Currently, market breadth is very strong with over 80% of stocks in long-term upward trends and does not indicate a top is in the process of being formed. Also, more than 92% of the 50 states in the US are experiencing economic growth and the risk of a recession is quite remote.
It’s been dubbed the “Least Loved” Bull market in history. The US-stock market rally is now 57-months old, and over this time period, the S&P-500 index has climbed a “wall of worry,” rising +170% from its March 9th, 2009 low, and hitting an all-time high, above the 1,800-level.
Most understand the "too big to fail" banks have gotten bigger and bigger over time as they swallow up smaller banks bit by bit.
The Second Estimate for Q3 GDP, to one decimal, rose to 3.6 percent from the 2.8 percent of the Advance Estimate. Investing.com had forecast 3.0 percent. The GDP deflator used to calculate real (inflation-adjusted) GDP was lifted slightly from 1.9 percent to 2.0 percent.
It is not really clear yet whether the recession in the euro area has ended. The rule-of-thumb definition of a recession as two consecutive quarters of negative growth is not very helpful and, in fact, is not used by the official arbiter in the US.
On Tuesday, Shell floated the hull for its industry-changing Prelude floating liquid natural gas (FLNG) vessel, the biggest object ever put to sea.
Today the Institute for Supply Management published its latest Non-Manufacturing Report. The headline NMI Composite Index is at 53.9 percent, signaling slower growth than last month's 55.4 percent.