The gap between services and manufacturing is rarely this large. Historically, when the gap gets this large, it has marked a bottom for manufacturing, but, sadly, also a peak for services. 

A trade war with China seems to be a perennial that just mutates into new forms. The latest is a chip war. 

The Federal Reserve released results from its latest bank stress tests. Surprising no one, every bank passed. 

A key challenge for investors is to not let their political opinions adversely affect their portfolios. Political winds change and they don’t tend to be the biggest drivers of returns in portfolios. 

In regards to the weekend 'mutiny' in Russia, maybe investors are simply asking, “What does this really mean for the profitability of corporate America?” Answer: probably not much. 

Different markets in different countries have their own dynamics. That’s where there can be a diversification benefit to investing globally.

The Fed's statements about what they *plan* on doing is referred to as “forward guidance.” But, their forward guidance is only as good as their forecasts.

Maybe the housing market is beginning to roar back, but investors should be careful. 

Consumers are doing well, but industrial activity isn’t so hot.

The market knows the Fed is flying blind and pushing things too far runs the risk of causing the economy to skid to a stop.