NEW YORK (TheStreet) -- "Black swans" are supposed to be rare, almost unpredictable disasters. But now they're flocking over a black hole. Today I update my recent ideas on the markets and the Fed: "Stock Market Charts Are Positive, But Investors Should Beware" and "Treasury Yields Are Rising; the Fed Will Hike 'When Doves Cry.'" Let's look at my outlook for the markets and Federal Reserve policy, and define those black swans.
Here is a list of the black swans that are flying above the stock market black hole:
- The price of gold (GLD) has been on the rise since the beginning of 2014 as an alternative asset to stocks and bonds.
- The price of crude oil has been declining since June 13, peaking at $107.68, which is a sign of a weaker-than-expected economy.
- There are several hot spots of geopolitical tensions headlined by the Middle East.
- Big banks remain in the cross-hairs of Attorney General Eric Holder's investigations of mortgage-related lawsuits.
- A major bank in Portugal missed an interest payment on a debt.
- Continued data from many regions of the world show weaker than expected economic growth.
So how will this affect the markets?
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