Attack on the Saudi Oil Fields – The Big One - September 18, 2019

Or is it?

Policymakers have fretted over a major attack on Saudi Arabia’s oil fields for decades. It finally happened on Saturday, with an attack knocking out 5.7 million barrels/day of production, or almost 6% of the world’s daily supply (WSJ).

  • Lost production may be fully restored within two to three weeks, Reuters reported on Tuesday. Other reports suggest it could be longer.

Is it really a big deal? Well, yes and no.

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Headlines - September 16, 2019

Over the medium and longer term, the fundamentals are the key drivers of stock prices. These drivers include economic growth, corporate profits, interest rates and bond yields, and the level of inflation.

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September Gloom - September 11, 2019

October has a gloomy reputation.

  • The 1929 market crash and the 1987 market crash were in October.
  • During the 2008 financial crisis, stocks were badly beaten up in the month that sports Halloween.

Yet, since 1970, the worst performing month for the S&P 500 Index2 has been September, per St. Louis Federal Reserve data.

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Cross-Currents in August - September 6, 2019

August can be hot and muggy. It leaves one pining for a fresh autumn breeze. Since 1970, August has, on average, been a lackluster performer for stocks (St. Louis Federal Reserve S&P 500 data). Last month was no exception – hot and muggy.

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