The looming recession, intractable current account deficit, shrinking dollar and housing slump that shows no signs of abating aren't preventing the Dow Jones Industrial Average from beating all of the world's biggest stock markets. That's because the Federal Reserve is the only central bank determined to drive interest rates lower.
Even as U.S. stocks suffered the worst January in 18 years, they still outperformed Japan, China, the U.K., France, Hong Kong, Germany, Canada, India and Brazil. Home Depot Inc., General Motors Corp. and JPMorgan Chase & Co. helped the Dow limit last month's loss to 4.6 percent compared with a 9.1 percent drop by MSCI Inc.'s index of 22 other developed markets.
More on https://www.peterdag.com/.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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