It’s like Dawn of the Dead on Wall Street. Zombies are everywhere.
Even as stocks continue to push to new highs, the number of money-losing companies listed on US stock markets has ballooned to levels not seen since the dot-com bubble of the late 1990s.
According to a recent Wall Street Journal article, nearly 40% of US-listed companies are losing money.
The Dow Jones was down over 280 points yesterday, marking the third straight day of declines. Sudden pessimism about a trade deal has tanked stocks. In his latest podcast, Peter Schiff talked about it.
Typically, December is a strong month for stocks with the so-called “Santa Claus rally.” Peter said maybe the Grinch is going to steal that rally this year.
Last Tuesday, the S&P 500 made a record high as markets anticipated another Fed rate cut. Some analysts say the big risk is that we’re seeing a boost in asset prices but no real uptick in the actual economy. Peter Schiff appeared on RT Boom Bust to talk about it. He said investors buying onto all of this Wall Street hype are in for a painful awakening.
You would think folks on Wall Street would be pretty good at economics. Some of them are. But as Alex Merced will attest, just because somebody lands a job as a stockbroker doesn’t mean they’re a good economist.
Alex works as a Wall Street trainer. He also teaches economics. In fact, he’s produced hundreds of videos on economic topics ranging from basic to advanced. In this episode of It’s Your Dime, host Mike Maharrey and Alex talk about economics and investing.
Wednesday was another ugly day on Wall Street.
Stocks tanked, wiping out gains for the year in both the Dow Jones and S&P 500 Index. The Dow fell 608 points and the S&P 500 shed 3%. The Nasdaq plunged 329 points and lapsed into a correction territory. It was the largest daily decline on Wall Street since 2011.
In his most recent podcast, Peter Schiff asked a key question: will the Federal Reserve swoop in and change the nature of the game?
SchiffGold’s It’s Your Dime features “straight talk” interviews with movers and shakers in the world of precious metals, investing and economics.
In this episode, I talk with Peter Schmidt about the dunces of Washington and Wall Street.
The Dow cracked 22,000 this week, marking the third 1,000-point milestone in 2017. The Dow industrials are up 20% since election day.
In fact, Pres. Trump is taking credit for the rise. As the Dow approached the 22,000 mark, the president tweeted that the market has gone up 4,000 points since his election.
In his most recent podcast, Peter Schiff once again points out that the economic fundamentals don’t support this stock market bull run, saying there are cracks in the foundation.