The Dow Jones Industrial Average hit 15,000 Friday - so will the stock market this week see another new high?
Money Morning Chief Investment Strategist Keith Fitz-Gerald joined FOX Business' "Varney & Co." program Monday morning to discuss how much higher the market can go. Listen to Keith's take on what's ahead for investors.
Bond Market Crash Will Strike By 2016, Expert Predicts
Not only is a bond market crash inevitable, but it will hit sooner than many think - by 2015 or 2016 at the latest, according to Michael Pento, president of Pento Portfolio Strategies.
"It's the most overpriced, over-owned, oversupplied market in the history of American economics," Pento said of the bond market in an interview with The Street.
Pento compared the current bond market, with its historically low interest rates and flood of U.S. Treasuries, to two of the most recent bubbles - the dot-com bubble of the late 1990s and the housing bubble that burst in 2007.
A sudden bond market collapse isn't likely, Pento said, but his models tell him it will happen, one way or another, within the next three years. And investors will need to be prepared.
The Next Wall Street Mega-Scandal Has Arrived
Well, it looks like the major financial institutions can't learn a lesson. They're neck deep in yet another financial scandal of global proportions.
U.S. and international securities regulators investigating manipulation of LIBOR, the world's most important set of benchmark interest rates, have uncovered another price-rigging scheme, this one in the $379 trillion market for interest rate swaps.
$379 Trillion, not Billion. Trillion.
The Commodity Futures Trading Commission (CFTC) has already issued subpoenas to Wall Street's biggest banks and is interviewing a dozen former and current brokers from the Jersey City, NJ, offices of ICAP Plc.
For investors in the big banks, new revelations may put an end to the upward push to the groups' stock prices, whose earnings of late have been helped by reductions in reserves meant as a cushion against future asset hits and litigation expenses.
Is "Dow 16,000" a Reachable Target?
We all saw it.
Barron's April 20 cover showed a cartoon bull on a pogo stock, with the exclamation "Dow 16,000!"
So what's the investor takeaway - are we all in to 16,000, or is it a contrarian signal to watch out for a looming market pullback?
Money Morning Chief Investment Strategist Keith Fitz-Gerald joined FOX Business Network's "Varney & Co." program to answer that question.
Watch the following interview with Fitz-Gerald to find out.
Stock Market Today: S&P 500 Reaches Record Before May Sell Off Hits
The stock market today (Tuesday) paused after kicking off the week with strong, across-the-board gains that took the Standard & Poor's 500 Index to an all-time closing high.
The S&P rose 11.37 points Monday, or 0.7%, to close at 1,593.61, a hair above the index's April 11 record of 1,593.37. The Nasdaq tacked on 27.76 points, or 0.8%, to 3307.02, its highest close since 2000. The Dow Jones Industrial Average climbed 106.20 points, or 0.7%, to 14818.75, inching closer to the anticipated 15,000 milestone.
Shortly before noon Tuesday, stocks took a breather. The Dow dipped 32.62 points, or 0.22%, at 14,786.13. The S&P slipped 1.95, or 0.12%, at 1,591.66. The Nasdaq notched a gain of 5.2%, or 0.16%, at 3,312.
As markets march into May, trading is expected to slow. The old "sell in May and go away" adage has many preaching caution. Bespoke Investments reports two of the ten worst months of May in S&P's history have occurred during the current bull market (2010 and 2012).
Stock Market Today: April Set to Continue 2013 Winning Streak
U.S. equities followed Europe's lead and headed higher when the stock market today (Monday) opened.
Wall Street's mood was lifted after Enrico Letta was sworn in as Italy's prime minister, ending weeks of political gridlock in the ailing European nation. The news also propelled Italian stocks up more than 1%.
Shortly before noon, the Dow Jones Industrial Average was up 68.55 points, or 0.47%, at 14,781.10. The Standard and Poor's 500 Index was higher by 8.59, or 0.54%, at 1,590.83. The Nasdaq climbed 26.72, or 0.81% at 3,305.98.
Another lift to the stock market today came from a report on March consumer spending. The read was 2%, much better than and 0.1% rise economists had expected and up from a 0.7% gain in February and a 0.4% advance in January.
With just two more trading sessions left in the month, U.S. stocks are set to end April with gains. That would mark the fourth consecutive positive month for equities.
But it's about that time when the familiar spring swoon weighs on stocks in the near term.
According to data from Bespoke Investment Group, over the past 30 years, an investor who bought the S&P 500 Index every Oct. 31 and sold the following April 30 would have reaped a 898% gain. In contrast, buying every April 30 and selling every late October would have returned just 56%.
Stock Market Today: Don't Miss These Earnings Reports
Coming off the worst week of the year, U.S. equities were mixed in the stock market today (Monday) at we kick off a big week for earnings.
In mid-afternoon trading, the Dow Jones Industrial Average was down 14.19, or 0.10%, at 14,533.32. The Standard & Poor's 500 Index gained 2.50, or 0.22%, to 1,558.93.
The Nasdaq was up 20.17, or 0.63%, to 3,226.23.
Gold, which lost 7%, or $105.70 a troy ounce last week, was down 20 cents, to $1,426.30.
The First Rule for Picking Winners in High-Tech Stocks
Last Sunday, I told you that the road to wealth was paved by tech.
I told you there was still hope for America - and for your retirement - because of the massive profits that high-tech stocks can generate.
But the truth is it's not enough to find an interesting company in a hot tech sector.
To score the kind of life-changing profits I told you about last week, you have to invest in the truly exemplary high-tech winners.
These are the companies that are changing the rules in computers, biotechnology, industrial materials, telecommunications, aerospace, and other cutting-edge sectors.
Those paradigm-changing ventures create markets where none existed, leapfrog existing technologies, and create products that their customers never even dreamed about... but then can't live without.
How to Beat Wall Street at Its Own Game
I'm a voracious reader. And I'm also a relentless networker.
In this business, I have to be. I need to see and hear as much as possible in order to form the opinions, forge the recommendations and assemble the market intelligence that enables us to help you pull down big profits.
Creating Private Briefing made it even easier for me to do all that for you.
Now I have direct, daily access to six of the most impressive investment gurus you're ever going to find - folks like Keith Fitz-Gerald, a globe-trotting expert and best-selling author with decades of experience in international markets ... or Peter Krauth, the natural resources expert who's so serious about his work that he lives in Canada to be close to the companies he covers ... or Martin Hutchinson, who has actually been hired by countries to fix their economies.
Let me tell you a quick story that shows why this matters. And after that we'll take a look at some investing strategies we think you need to consider - especially right now, with the market in record territory.
These are strategies that will allow you to keep pursuing profits on your existing holdings, to add new positions at prices that will help you extract the maximum-possible returns, and to protect all of your holdings against a possible correction.
So let's start with my story.
Adjusted for Inflation, Here's Where the "Real" Dow is Now
The economy may be sluggish, and the deficits out of control, but you could never tell it from the stock market.
Thanks to Ben Bernanke, the markets are at all-time highs.
But before you pop the champagne, you should know that there's a big difference between "nominal" and "inflation-adjusted" numbers.