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Dr. Steven Miran Article on Global Trade.pdf

During the first quarter of 2025, the Dow Jones Industrial Average declined 1.3%, the Standard and Poor’s 500 Index fell 4.6% and the Nasdaq Composite dropped 10.4%. It was a weak quarter that followed two very strong years of +20%...

In calendar 2024, the Dow Jones Industrial Average gained 12.9%, the Standard and Poor’s 500 Index added 23.3% and the Nasdaq Composite surged 28.6%. These excellent returns were eerily similar to the previous year (2023) when the Dow...

This is a snippet that Bill Baxter Jr. wrote in our newsletter from January 1992 on the Turkey Tally. It reflects back on the small economic contraction in 1991 and serves as a reminder that indicators of consumer demand and the...

During the first nine months of 2024, the Dow Jones Industrial Average gained 12.3%, the Standard & Poor’s 500 Index advanced 20.8% and the Nasdaq Composite added 21.2%. In the third quarter, the Federal Reserve began its...

Equity markets were strong in the first half of 2024. For the first six months of the year, the Dow Jones Industrial Index gained 3.8%, the Standard & Poor’s 500 Index added 14.5% and the Nasdaq surged 18.1%, mostly on the back of...

For the first quarter of 2024, the Dow Jones Industrial Average, Standard & Poor’s 500 Index, and the Nasdaq Composite gained 5.6%, 10.2% and 9.1%, respectively. After a solid fourth quarter of equity gains, driven by the “Magnificent...

In calendar 2023, the Dow Jones Industrial Average gained 13.7%, the Standard and Poor’s 500 Index added 24.2% and the Nasdaq Composite surged 43.4%. It was almost a mirror image of the carnage in the markets during 2022 when the DJIA...

The end of the third quarter of 2023 saw higher interest rates and some softness in equity prices. On a year-to-date basis, stock performance was still positive through the end of September, but the major indices all logged negative...

Equity markets were strong in the first half of 2023. For the first six months of the year, the Dow Jones Industrial Index gained 3.8%, the Standard & Poor’s 500 Index added 15.9% and the Nasdaq surged 31.7%, mostly on the back of...

For the first quarter of 2023, the Dow Jones Industrial Average, Standard & Poor’s 500 Index, and the Nasdaq Composite gained 0.4%, 7.0% and 16.8%, respectively. After a weak February, equity markets rallied in March. The S&P 500...

As the Federal Reserve engineered an increase in interest rates, financial institutions saw losses emerge on their fixed income portfolios. Similarly, financial institutions saw their funding costs increase dramatically. After thirteen...

After a very strong year for equities in 2021, we worried that the Federal Reserve was seriously behind the curve with regard to likely inflation rates, and that this could make for a rocky 2022. They were and it did. The Dow Jones...

The end of the third quarter of 2022 marked the continuing decline of equity markets worldwide. The Dow Jones Industrial Average lost 20.9% year-to-date, the Standard and Poor’s 500 Index was down 24.8% and the Nasdaq Composite...

The equity markets were weak through the end of the second quarter of 2022. The Dow Jones Industrial Average lost 15.3% through June 30th, the Standard and Poor’s 500 Index was down 20.6% and the Nasdaq Composite dived 29.5%. This was...

Equity markets were weak at the start of 2022. For the first quarter, the Dow Jones Industrial Index lost 4.6%, the Standard & Poor’s 500 Index fell 4.9% and the Nasdaq declined 9.1%. Most equity indices did rather poorly in the first...

We have some close friends who live in the United States with family living in Ukraine. We are praying for their safety and the well-being of the entire nation. This is a serious event impacting many families worldwide. However, from...

The equity markets were very strong in 2021. Throughout 2021, investors looked forward to a post-pandemic economic recovery, flush industrial and consumer balance sheets, solid earnings growth and aggressive fiscal and monetary...

The equity markets paused in the third quarter of 2021, but retained most of their gains from the first six months of the year. Through September 30th, the Dow Jones Industrial Average advanced 10.6%, the Standard & Poor’s 500 Index...

The equity markets ran hot in the first half of 2021. Through June 30th, the Dow Jones Industrial Average advanced 12.7%, the Standard & Poor’s 500 Index surged 14.4% and the Nasdaq Composite gained 12.5%. During the second quarter,...

The equity markets performed well through the end of the first quarter 2021. The Dow Jones Industrial Average gained 7.8%, the Standard and Poor’s 500 Index added 5.8% and the Nasdaq Composite increased 2.8%. Positive stock performance...

The past year was a challenging ordeal, full of vitriol, anguish and tumult. A global pandemic led to a worldwide public health intervention that led to the greatest economic contraction since the Depression that led to the largest...

Stocks put in a strong third quarter, but the equity markets were mixed year-to-date through the end of the third quarter 2020. The Dow Jones Industrial Average lost 2.7% year-to-date, the Standard and Poor’s 500 Index was up 4.1% and...

What a long, strange trip it’s been… and it is only July. The equity markets were mixed through the end of the second quarter 2020. The Dow Jones Industrial Average lost 9.6% year-to-date, the Standard and Poor’s 500 Index was down 4...

If the question posed was: “What do you get when you combine an emerging and atypical deadly pandemic, a near-global economic cease-and-desist order, a worldwide oil price war, partisan and dysfunctional political maneuvering, and...

As a firm that has served investors since 1924, Baxter Investment Management has experienced the whole gamut of stock market cycles through the years. Many of these cycles have seen meaningful gains, as the stock market has provided...