Wild Ride It was a volatile week that finished with equity market index losses after Fitch downgraded its U.S. credit rating below the top AAA level; this launched U.S. Treasury yields on a wild ride that somewhat ironically narrowed the 10-year versus 2-year...
Winter Is Coming The selling deluge continued with the S&P 500 losing 2.9% to finish at its lowest level since Christmas 2020. The storyline remained the same as the PCE, the Fed’s preferred inflation measure, rose a whopping 0.1% more than forecasters expected....
A Shift Back to Dovish Against the backdrop of the Fed raising rates and a shrinking GDP, the stock market finished July with a flourish as the S&P 500 rallied 4.5%, the Nasdaq gained 4.7%, and the Russell 2000 advanced 4.3%. The Oil and Gas sector was the...
How the Grinch Almost Stole the Stock Market On Monday the stock market Grinches smelled the Omicron wave of Covid-19, and declared “Stink, Stank, Stunk” – by Thursday the Santa Claus rally had cleared the air leading to the S&P 500 closing at a record high for...
This Market Does Not Spook Easily October 2021 is shaping up to have more treats than tricks, following a scary September. After a rough start to the week, the market mounted a powerful rally on Thursday and Friday, with the S&P 500 posting a 1.82% gain to reach...
Last Week: The economic outlook continued to brighten, with the pandemic subsiding and the potent combination of monetary and fiscal policies priming the growth pump. The Big Bad Bond market growled as the 10-year Treasury yield jumped 8 basis points to 1.64%, hitting...
As we approach the Thanksgiving holiday, it would be an epic understatement to say that 2020 has been a most unusual year. In our family my birthday on March 12 comes first in the calendar and my son Alex’s on November 19th comes last. Flashing back to March 12th, I...
Markets: The high for the week was set on the opening Monday morning, but those modest gains quickly evaporated by lunch time as the S&P went negative -0.5%, and basically stayed around that level the rest of the week. Small and Mid-Cap stocks fared slightly...
Last Week: Earnings season produced no surprises with 9% of the S&P 500 companies having reported results which were consistent with forecasts for a 44% decline in profits for the quarter. If -44.0% is the actual decline for the quarter, it will mark the largest...
Last Week: Concerns that the porridge was getting too cold appear to have been unwarranted. The S&P 500 and the Nasdaq Composite hit record highs as strong earnings reports and economic reports fueled investor enthusiasm. Earnings season is about half way over and...
Last Week: The porridge heated up enough to nourish the Goldilocks rally for another week. Stronger than expected economic data from China on Monday and a solid U.S. jobs report on Friday were the bookends to continued perceived progress on the trade front during the...
Last Week: The market resumed its downward trend, with the S&P 500 shedding 1.61% and the Russell 2000 declining 1.42%. All ten sectors experienced losses, with Oil & Gas shares faring the worst as crude oil prices dropping for a record 12 straight days to...
Last Week: Earnings season got back on track, and the market responded with a nice rebound early in the week, only to have the gains dissipate with the market finishing flat to slightly lower by the close on Friday. So far, major bank earnings in particular are...
Last Week: In the words of the legendary rocker Bruce Springsteen, “You can’t forsake the ties that bind”. In today’s market those “TIEs” are Trade, Interest rates, and Earnings. Trade continues to dominate the narrative, probably because President Trump is a master...
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