Truth in Wealth Building

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Outstanding earnings season

Second quarter numbers were strong even without the boost from the new tax law, while guidance was generally positive despite tariffs and trade policy uncertainty. With just 15 index constituents left to report, S&P 500 Index earnings rose 25% year over year, nearly matching the 26% growth rate from the quarter before. Even without the…

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Looking for relief

The Commerce Department said orders for U.S.-made capital goods increased 1.4 percent in July. Core capital goods orders increased 7.2 percent on a year-on-year basis. If you were looking for relief on your state tax deduction you are going to be disappointed. The Treasury and IRS issued new rules to block high tax states’ attempts…

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With just 123 days left till Christmas

It is expanding its footprint in Oregon. Next stop for In-N-Out Burger is Keizer Oregon. (KPTV) Kroger, parent company of Fred Meyer, will eliminate plastic shopping bags from its supermarkets by 2025. (WSJ) Nordstrom approved a new $1.5 billion stock repurchase program. (CNBC) Lowe’s is closing all its Orchard Supply Hardware stores. The upscale hardware…

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Lowest since 1966

Short positions in Treasury futures were historically high just two months ago, and now they are 50% higher. Many of these short positions were put on over the last six months while the 10-year Treasury yield has hovered in its current 2.8-3.0% range. Yield moves meaningfully below that level could squeeze short positions, pressuring shorts…

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Treasury yield curve flattens

Today the current bull market tops the 1990s bull market as the longest ever. However, be aware that the 1990s bull market saw the S&P 500 Index gain 417%, while the current bull market is up approximately 320%—so you can’t call this the greatest bull market…yet. (LPL) The S&P 500 Index made a new all-time…

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26th consecutive monthly gain

S&P 500 earnings growth is now tracking to +24.6% year over year for the second quarter. Revenue growth is tracking to +9.4% year over year. (LPL) The Conference Board’s Leading Economic Index increased 0.6% in July, its 26th consecutive monthly gain. The LEI, which is a composite of 10 economic indicators (like manufacturers’ new orders,…

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