Mike’s Morning Brief: A fast-break rundown of what’s going on.
Mike’s Morning Brief: Market opens flattish with the major indexes at fresh, all-time highs reached again yesterday. Morgan Stanley is out with a cautious call suggesting recent Market behavior does not reflect the fundamental landscape. Stocks have been up pretty much every day for weeks. There have been 47 record closes. Growth is not that strong. The Japanese Nikkei reached levels not seen since 1996. It remains a long way from its all-time high reached in 1989. The Catalan leader diffused some of the tension in Spain, proposing talks with Madrid about separation. President Trump declared a state of emergency in Northern California with the devastating fires, which have yet to be contained. There have been more major natural disasters in 2017 than I can remember. Earnings Season should dominate trading, starting tomorrow, and stocks are pricing in a lot already. Stay tuned.
Have a great morning,