Investor Confidence Sends Stock Indexes to New Highs – Ep. 53

The Peter Schiff Show

  • Friday 13th was not unlucky for Wall Street
  • S&P 500 traded to an all-time record high
  • The Dow closed above 18,000
  • NASDAQ at almost a 15-year high
  • Despite overall trend of weak corporate earnings
  • Weak economic data does not dampen Wall Street’s spirits
  • Central Banks are behind the surge with excess liquidity
  • Wednesday – Mortgage Applications plunged 9%
  • Purchases declined 7% following a 2% decline prior week
  • 10% decline in Mortgage Refinances
  • Jobless claims up 25,000 from prior week
  • Biggest back-to-back decline in Retail Sales since October of 2009
  • Consumer Confidence is down 2 weeks in a row
  • Business Inventories rose by just .1% contrary to expectations
  • Inventory to sales ratio highest since July 2009
  • Huge drop in Consumer Sentiment
  • Jobs number is a lagging indicator
  • Part-time economy is a double-edged sword

Peter Schiff is an economist, financial broker/dealer, author, frequent guest on national news, and host of the Peter Schiff Show Podcast.

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