Last Week: On Wednesday night I got into an Uber and greeted my driver by saying that it was a beautiful evening. “Yes” he responded, “but the 2-10 curve has inverted and there is a recession coming in 18 months”. I’m not joking. That actually happened. The market had...
Last Week: Since the end of September, Federal Reserve and Trade policies have been the two storylines that have influenced the mood on Wall Street. Simply stated, the market wants the Fed to lower interest rates and for tariffs to go away. As a result, slightly cold...
Last Week: Baby, it’s cold outside, and on Wall Street. Parenthetically, the Frank Loesser classic holiday song of that title (the “Elf” rendition is my favorite) has been banned from certain radio stations, but that’s a topic for a different forum. The glow from the...
Last Week: A bagful of earnings, economic data, and tweets, left investors to digest whether these were tricks or treats. By Friday’s close the verdict was primarily treats, as the S&P 500 snapped its losing streak to finish +2.42%. Nevertheless, there were a few...
Last Week: It was the worst week for the equity market since early February, with the S&P 500 declining 4.1%, erasing over half the gains for the year. Only a relief rally of over 1% in the last hour of trading Friday allowed the index to break a six-day losing...
Last Week: Despite enthusiasm on Monday morning over the new U.S.-Mexico-Canada Agreement (take note that the word “Trade” disappeared from the agreement formally known as NAFTA), as the week progressed the trade and interest rate headwinds once again intensified. On...
Last Week: The short story is that the S&P 500 gained 1.99%, as easing trade tensions with China, strength in the Energy sector, and the outset of a very strong earnings season provided the backdrop. The long story is that each day exhibited volatile swings, with...
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