The Strongest Headwinds

Joe Terranova
The equity market recovery in July has encountered multiple headwinds in August. I believe it began with Wednesday, August 11th’s import data from China (Fig 1.1).

China PMI

Joe Terranova
During the last week of July, market expectations for the upcoming China PMI began to fall, somewhat dramatically.

Oil Market Update

Joe Terranova
Oil inventories continue to rise here in the United States; in fact, they are approaching the uncomfortably high levels of May 2009.

A Good Inning!

Joe Terranova
For all the negative sentiment that flavored our 4th of July bar-b-ques, I would say the month of July caught most money managers by surprise.

Choke Up On The Bat

Joe Terranova
The S&P 500 Index aggressively declined 2.88% on Friday, July 16, quickly dropping the monthly gain for the Index to 3.315%.

Past performance is not a guarantee of future results.

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