Watching the stock market on a daily basis is a good way to go insane. If you doubt this, all you have to do is read the various explanations for the daily gyrations – which rarely make much sense. Nevermind them. Since the start of 2016 the market’s been in a serious funk, which is to say it’s had a major urge to get down.
The official explanation is “China”. Something about China, at least. We’ve never bought that here at Barataria, focusing instead on the positive news that surrounds us every day. No, we’re not joking. There is indeed positive news and the market reflects this – sort of, at least.
Like good funk, the story of the stock market today comes with a backbeat and a solid bass line. It’s all about how the vagaries of international finance flow through the news and the market with a beat that so infectious ev’rbody has to dance.