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Aug 19 2014

Strong rally as geopolitical tensions

Market Recap:

Stocks kicked off the week with a strong rally as geopolitical tensions between Russia and Ukraine eased and word spread that Kurdish soldiers had secured a large portion of land surrounding Iraq’s largest dam, effectively pushing back ISIS and greatly reducing the risk of the terrorist group blowing up the dam and flooding several major cities located along the Tigris river. More significantly, from a fundamental perspective, economic news was positive with home builder confidence rising more than forecast, and corporate earnings continued to impress. While investors remain nervous of a looming correction, we believe that any such event is likely to be short-lived. Watch our Monday afternoon discussion on Fox Business here:

Fox Business

Looking Ahead:

Equity futures are pointing to a higher open on Tuesday morning after European and Asian bourses followed through on Monday’s rally in the U.S. In addition to economic data, market participants are preparing to dissect speeches from major Central Bankers later this week, as they meet for the annual meeting at Jackson Hole. In our view, investors should temper their expectations as it is unlikely that any new news will be revealed from the conference.

Make sure to tune into Money Matters with Gary Goldberg this Saturday at 2:00 PM and Sunday at 11:00 AM on WOR 710 AM Radio to hear our latest economic analysis, interviews with some of today’s most respected business leaders, as well as our ongoing market commentary. Visit our website for details.