Here's a tiny bit of morning news to get you going:
Liz Ann Sonders - summer void. Stocks should continue going up in the medium to longer term, but everyone's on vacation now so don't be surprised if the market does stupid things with the interns and robots in charge.
Calculated Risk - home inventory is increasing and that's okay. He's not concerned. Quote:
Sometimes rising inventory is a sign of trouble (I was pointing to increasing inventory in 2005 as a sign that the bubble was ending), but now inventory is so low that an increase is probably a positive.So quit piddling yourself about home inventories.
This increase in inventory will also slow house price increases - the recent rate of increase in some areas was unsustainable - and getting inventory back to normal levels is another step towards a healthier market.
Also - another step towards normal is the continuing decline in the number of properties in foreclosure and the downward trend for mortgage delinquencies.
Bespoke - plenty of oversold Dow stocks. Note though that the $DJI is a bullshit index. Come on, they only just got around to booting out Alcoa. But is there a reason MMM should be trading at -3SD? Or XOM at -2.5SD? I mean, other than people dumping dividend stocks to rotate into growth?