Stock prices have had a tendency to rise during the first trading day of every month. The S&P 500 has been up 0.3% on average during the 52 such days since the start of the current bull market on March 9, 2009. It was up 0.5% yesterday. The S&P 500 has been up 65% of those days with an average gain of 1.1%. The average decline during down days was 1.3%.
The most financially savvy country and western crooner in America, Merle Hazard, returns with the must-watch release of a new economics chart-topper: "The Great Unwind." As Warren Buffett previously noted, "all over the world, everybody that manages money is waiting to catch the signal that the Fed will reverse course," and this two-minutes of country-music magnificence should concentrate the mind as "we've never had the degree of disgorgement that might be called for down the line, and who knows how it'll play out."