This year has not been an exciting time for investors.

Charts for some stocks show a steady decline.  Charts for others show a fairly level range of prices through April, followed by a jump and then a second leveling off ever since.  

If there is one group of stocks showing actual gains, it is the railroads.

But check the railroads.  Take a look at Canadian National (CNI); Canadian Pacific (CP); CSX; Norfolk Southern (NSC); Union Pacific (UNP):  you will see slow, gradual gains to be sure – but gains nonetheless.  

The same is true for the trucking business:  J.B. Hunt (JBHT) shows nice gains.

If stocks are generally wallowing without direction, it should mean that the economy is showing little real growth.  But rising transportation stock prices should reflect increased shipping of hard goods.

Investors are not losing money, but they are not making much money, either.

Other stocks trending up include JPMorgan Chase (JPM).  Since when is a staid bank’s stock a good investment?  

Looking at the bigger environment, politics does not seem to be affecting stock prices.  Despite a GOP President and GOP control of both the House and the Senate, no real pro-business bills are being enacted.  Political doldrums seem to be marching in concert with economic doldrums.

Inflation is up, at 4.1%.  The Fed’s target range is also high, at 3.5% to 3.75%.  Those numbers are higher than is usually thought of as acceptable, but they are fairly steady.  The employment rate is also fairly steady at 4.2%.  

You could read that and surmise that we are living in a quiet economic period – with increasing productivity.  

With a President like Donald Trump, we might expect to see a more dynamic economy, full of changes.  But instead, things are relatively quiet.

If the old Chinese curse, “May you live in interesting times,” has any meaning, then we are living in a time that is less “interesting” in the sense of the curse – which is good times for those of us living through it, and working towards profitable investments.  

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