While many an economic statistic says things are improving, there is a very good reason many Americans are not feeling it. Wages are simply not keeping up and the group struggling the most is the middle class. More here from Christopher Ingraham: http://www.washingtonpost.com/blogs/wonkblog/wp/2014/08/28/this-is-why-it-feels-like-the-recession-never-ended/
“Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”
~ Steve Jobs
Absolutely nothing. Including job growth during the Obama years. More interesting graphs here from James Pethokoukis: http://www.aei-ideas.org/2014/08/when-economists-talk-about-mismanaged-us-states-one-gets-special-mention/
The AAII Investor Sentiment Survey measures the percentage of individual investors who are bullish, bearish, and neutral on the stock market for the next six months; individuals are polled from the ranks of the AAII membership on a weekly basis. Only one vote per member is accepted in each weekly voting period.
The AAII Sentiment Index now has bulls at 52%. That’s the highest reading for the year and puts it near the most bullish levels since the 2009 low. We regard this measurement as a contrary indicator.
Our current 2000 day old rally is the fourth longest bull market since 1928. More here from Scott Krisiloff:
Shares of Williams-Sonoma are getting hit hard after the bell. The specialty retailer is off over 10% following their Q2 earnings report. This is a huge reversal for one of the top performing stocks in its sector. WSM closed today at fresh 52 week highs on very heavy trade. The stock had gained 13% this month and was up just shy of 45% from its February 2014 low. After the bell WSM is trading near $67.00, the July/early August lows. This is a very damaging move, one we expect to have an influence on other high-end retail names. We may find a few very tempting shorting opportunities as a a result.