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@theMarket: Month-End Musings
By Bill Schmick,
03:36PM / Saturday, August 01, 2015

While the summer months are usually the slowest season on Wall Street, July has proven to be anything but. As we enter the month of August, can we expect the same?

Whether we focus on overseas markets or review our own, it is clear that volatility remained and will remain elevated. Overseas markets in Asia took it on the chin, while the United States was trapped in a trading range that will continue in the month ahead. The good news is that this range appears to have an upward bias, so we can expect some minor new highs as time passes.

For the month, the S&P 500 Index managed to stay above water with a 2.2 percent gain bringing the year's total to an unsatisfying 2.4

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@theMarket: O Ye of Little Faith
By Bill Schmick,
09:28AM / Saturday, July 18, 2015

What a difference two weeks make. Back then, if one took the warnings/advice of the media and much of Wall Street, we were facing financial Armageddon. Today, the markets are flirting with new highs. What lessons can we learn from that?

Number one: the media's first and foremost objective is to sell advertising, if that means scaring its target markets into staying tuned (or reading the next page) then so be it. And I'm not just talking about the fringe elements. Greece, China and Puerto Rico led the list of doomsday stories that littered the headlines of some of the top news organizations both here and abroad.

That's where Wall Street comes in. Reporters need

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@theMarket: Global Markets Weather a Wild Week
By Bill Schmick,
08:02AM / Saturday, July 04, 2015

After weeks of trading in a narrow range, world markets broke to the downside. The culprit was once again Greece. Now investors must wait until this Sunday to discover if there is more selling ahead.

Last weekend's move by Prime Minister Alexis Tsipras of Greece to call a voter referendum in the middle of last-minute negotiations with its creditors effectively destroyed what chance there had been for a reasonable solution to that country's debt crisis.

European negotiators from the European Union, the European Central Bank and the International Monetary Fund (commonly known as the Troika) stormed away from the bargaining table. They withdrew further financial support

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@the Market: Second Quarter Earnings on Deck
By Bill Schmick,
07:53PM / Sunday, June 28, 2015

Next week we get to do it all over again. The second quarter ends in three days and investors will begin to focus on company results once again. The first quarter was nothing to write home about and the second quarter may be more of the same.

The final revision of first quarter GDP resulted in a contraction of minus-0.02 percent, which was less than the minus-0.07 percent decline that was originally reported. The culprits: bad weather, the West Coast port disruptions, a decline in energy spending and a strong dollar. Over the second quarter some of these negatives should begin to dissipate.

Weather has taken care of itself. The ports are back to business, although the logjam

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@theMarket: From Russia With love
By Bill Schmick,
08:05AM / Saturday, June 20, 2015

The newest wrinkle in the Greek debt crisis occurred this week when Greek officials met with Vladimir Putin to discuss a gas pipeline extension as well as the possibility of lending the cash-strapped nation additional funds.

Deliberate leaks to the press during negotiations, accusations that Europe is blackmailing Greece and constant grandstanding by Geek Prime Minister Alexis Tsipras has not only turned off EU, IMF and ECB negotiators, but has created a growing chorus of those who just want an end to the farce. There will be another last-ditch attempt at some sort of reconciliation on Monday, in an emergency summit of sorts in Brussels. Greece still has 12 days to make its monthly

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