Wer Englisch kann, sollte das Folgende lesen. In dem Artikel beschäftigt sich der Autor mit den Faktoren, die zur Zeit negativ auf die Aktienkurse einwirken.
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What's bothering stocks? A number of things, which I first highlighted in last week's column.
Let's start with interest rates. Although the Fed has yet to pull the trigger, interest rates in the bond markets have already gone up by more than a full percentage point over the last two months.
This may be good news for savers, but it's bad news for borrowers -- especially those seeking to obtain a home mortgage loan or to refinance an existing mortgage. Indeed, re-fi's have plunged by nearly 60 percent since March, depriving consumers of a big chunk of cash they've been using to supplement their incomes.
It's only a matter of time before these higher mortgage rates affect the housing market as well. And as home sales decline, so will spending on a raft of consumer goods.
The stock market, itself, is contributing to economic worries. More than half of all households own stock, while an even larger percentage watches the market and loses confidence when stock prices decline -- as they've been doing since the middle of February.
Other stimulants have disappeared as well. There's been no new tax cut to line people's pockets this year the way there was in each of the previous three years. Indeed, this year's tax refunds have been smaller than expected.
Meanwhile, the dollar has risen to multi-month highs. This threatens to erode the competitive advantage that the nation's beleaguered manufacturers have only recently come to enjoy.
To make matters worse, the cost of most necessities is soaring. Food prices are up as much as 20 percent in some parts of the country, ditto for health care, while energy costs are simply through the roof.
In the face of all this, it is nothing short of amazing that there are economists out there who are still looking for strong growth in the months ahead.
They must be looking out the rear window to where we've been -- not through the windshield at where we're going.
Quelle: cbs.marketwarch.com
So long,
Calexa
www.investorweb.de
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What's bothering stocks? A number of things, which I first highlighted in last week's column.
Let's start with interest rates. Although the Fed has yet to pull the trigger, interest rates in the bond markets have already gone up by more than a full percentage point over the last two months.
This may be good news for savers, but it's bad news for borrowers -- especially those seeking to obtain a home mortgage loan or to refinance an existing mortgage. Indeed, re-fi's have plunged by nearly 60 percent since March, depriving consumers of a big chunk of cash they've been using to supplement their incomes.
It's only a matter of time before these higher mortgage rates affect the housing market as well. And as home sales decline, so will spending on a raft of consumer goods.
The stock market, itself, is contributing to economic worries. More than half of all households own stock, while an even larger percentage watches the market and loses confidence when stock prices decline -- as they've been doing since the middle of February.
Other stimulants have disappeared as well. There's been no new tax cut to line people's pockets this year the way there was in each of the previous three years. Indeed, this year's tax refunds have been smaller than expected.
Meanwhile, the dollar has risen to multi-month highs. This threatens to erode the competitive advantage that the nation's beleaguered manufacturers have only recently come to enjoy.
To make matters worse, the cost of most necessities is soaring. Food prices are up as much as 20 percent in some parts of the country, ditto for health care, while energy costs are simply through the roof.
In the face of all this, it is nothing short of amazing that there are economists out there who are still looking for strong growth in the months ahead.
They must be looking out the rear window to where we've been -- not through the windshield at where we're going.
Quelle: cbs.marketwarch.com
So long,
Calexa
www.investorweb.de
