Markets were squeezed last week as oil rose again, even as the U.S. Labor Department reported the third month of improving unemployment rates. The unemployment rate fell to 8.9 percent in February, down from 9 percent in the previous month. Orders for airplanes pushed factory orders up for January, but excluding airplanes the manufacturing sector came with the lowest increase since October. Bank downgrades also pressured Wall Street, and volume was low as investors attempted to ride out the latest volatility. They're tugging at each other, employment and oil," said Jack Ablin, chief investment officer of Harris Private Bank. "Oil is high enough that it has to be a concern. The longer it remains at this level, the greater the chance that it upends our recovery.
INDIANAPOLIS, Nov. 22, 2011 /PRNewswire/ -- It's here - Black Friday: the official start of the holiday shopping rush. A retailer typically makes around 20 percent of their annual sales during the four weeks of the holiday season. Are consumers planning to hold back their spending due to the lack of confidence in the market? Contrary to historic trends, consumer spending is no longer taking its lead from confidence in the market, or lack thereof. Going back as far as 1996, consumer confidence and retail sales growth followed each other hand in hand. Based on a report from the US Census Bureau, beginning in late 2010 that match has taken a dramatic shift. Tepid consumer confidence would have implied negative sales growth at recession-like levels; however, retail sales activity has climb...
Markets rose last week on a private report that said businesses hired twice as many people in June as expected. Although the week's jobs disappointed, with employers creating the fewest jobs in nine months, the week ended Friday in positive terrain, with stocks closing near their 2011 highs on Thursday. Investors are expecting positive earnings results for the reporting season to begin this week. Retail sales also surprised, with June sales at their highest since 1999, and same-store sales up 6.9 percent in the 28 reporting retailers. The closest thing to an unadulterated barometer of our progress is same-store sales," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. "Everything is tied to it: Sales drives profits, profits drive hiring and hiring drives sale...
KANSAS CITY, Kan., Nov. 22, 2011 /PRNewswire/ -- It's here - Black Friday: the official start of the holiday shopping rush. A retailer typically makes around 20 percent of their annual sales during the four weeks of the holiday season. Are consumers planning to hold back their spending due to the lack of confidence in the market? Contrary to historic trends, consumer spending is no longer taking its lead from confidence in the market, or lack thereof. Going back as far as 1996, consumer confidence and retail sales growth followed each other hand in hand. Based on a report from the US Census Bureau, beginning in late 2010 that match has taken a dramatic shift. Tepid consumer confidence would have implied negative sales growth at recession-like levels; however, retail sales activity has ...
NEW YORK -- As stocks keep climbing, there's an argument to be made that Wall Street's recovery has come too far, too fast. But others say a little perspective adds impetus to the view of further positive equity returns to come. Investors, especially those who stuck to the sidelines for much of the market's rally, "remain astonished at the pace of gains the market has logged since the early March bottom," wrote Jack Ablin, chief investment officer at Harris Private Bank, in a note.
House-hunters have to be nimble to realign their searches with the new economic realities. Buy the mortgage before you buy the house," says Jack Ablin, chief investment officer with Harris Private Bank, based in Chicago and owned by the Bank of Montreal. "Get that set, get the terms right, and you'll have a better understanding of the affordability, and you'll be an attractive buyer because you can seal the deal.
Homeowners have a lot at stake in the political showdown over the country's debt ceiling. One of the major concerns to arise from the negotiations for many is the fate of a valued tax break. The benefit, which allows taxpayers to deduct their mortgage interest payments, is used by 35 million households.
... one of the safest investments around, notes Jack Ablin, chief investment officer for Harris Private...
NEW YORK (Reuters) - Whether the Federal Reserve likes it or not, its unprecedented monetary polices over the last few years have conditioned the financial markets to expect a helping hand when the going gets tough. That's why all eyes will be on Ben Bernanke, the central bank's chairman, when he speaks Friday [Aug. 26] at the Fed's annual symposium in Jackson Hole, Wyo.
... are becoming more cynical," said Jack Ablin, chief investment officer at Harris Private Bank i...
NEW YORK (AP) -- On the eve of the bull market's second anniversary, billionaire investor Carl Icahn has an unsettling message for his investors: Take your money back. Icahn told investors in his hedge funds that he didn't want to be responsible to them for "another possible market crisis," especially given the rapid increases over the past two years. Stocks have nearly doubled since hitting 12-year lows on March 9, 2009. Icahn, who has built a fortune from taking stakes in well-known companies and then pressing for changes, also said he was concerned about the economic outlook and political tensions in the Middle East. Icahn's targets over the years have included Yahoo Inc., RJR Nabisco and Revlon.
...Jack Ablin, chief investment officer at Harris Private ...
By Nathaniel Popper Los Angeles Times
... in the calm in the eye of the storm," said Jack Ablin, chief investment officer at Harris Private ...
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