FactSet StreetAccount Summary – US Weekly Recap: Dow (1.27%), S&P (1.24%), Nasdaq (1.48%), Russell 2000 (0.76%)
Last November 12, I posted Lonesome Cowboy after watching a Consuelo Mack interview with Cornerstone Macro’s star strategist François Trahan who eloquently displayed his bullishness on the U.S. economy and equity markets. On January 5, we learned that Cornerstone Macro had just turned bearish on U.S. equities, judging that the risk of economic contagion or international crisis has gotten too high. I will post on that shortly.
In the meantime, here’s Trahan’s former boss and mentor at ISI who also displayed his bullishness to Consuelo Mack. If you don’t know Ed Hyman, be aware that he has been voted the #1 economist by Institutional Investor for an unprecedented 35 consecutive years. Ed makes no bone of the fact that equity markets have been in bull mode for 6 years now as he argues that we are still in the early stage.
Many of us spend much time reading and listening to economists, often wondering what they really mean. Unfortunately, Google Translate has yet to tackle economists verbiage. It has, however, added significant new features as Leah Grace explains.
Climate experts from the National Aeronautics and Space Administration and the National Oceanic and Atmospheric Administration, working independently, calculated that the globally averaged temperature over land and ocean surfaces for 2014 was 58.24 degrees Fahrenheit, 1.24°F (0.69°C) above the 20th century average, the highest among all years since record keeping began in 1880. By their reckoning, nine of the 10 warmest years now on record all occurred during the 21st century.
Their finding confirms an analysis by the Japan Meteorological Agency, which announced earlier this month that 2014 was the hottest year world-wide on record. The records used by Japan go back to 1891.
The U.S. scientists said Friday that unusually high ocean temperatures combined with slightly cooler land-surface temperatures to make 2014 a record-breaking year. The averaged global ocean temperatures were 1.03°F (0.57°C) above the 20th century average. That too set a record. By themselves, the land temperatures were the fourth warmest on record.