Last Week: We concluded our June 8th commentary with “Perhaps the glass is half full?” noting the surprising strong jobs report and the 43% bounce in the S&P 500 from its March 23 lows. On Monday the S&P 500 broke even for the year, and the Nasdaq Composite...
Last Week: It is an occupational hazard of the investment advisory business that we are often asked whether the stock market is rational (always an uncomfortable question, but as Hyman Roth said “this is the business we’ve chosen”). The recent disconnect between the...
Last Week: In our May 18 Kuby’s Commentary (Happy Birthday Brooke Kuby) we noted the extraordinarily difficult year small cap stocks were having, posting more than double the S&P 500’s decline. In an attempt to “accentuate the positive”, we suggested that “when...
Last Week: Fortunately we don’t need to repeat the repeat of “Rally Interrupted”, as the market posted its best performance since November 2018 as the S&P 500 jumped 3.2% and the Nasdaq composite surged 4%. As is often the case, there was good, bad, and ugly news...
Last Week: The economic releases were consistent with a slowing economy in August, with the manufacturing ISM cracking below the 50 level (contraction) and the BLS jobs report coming in at 130,000 versus an estimate of 158,000. Neither of those reports should be cause...
Last Week: There is much ado about the plummeting interest rate offered by the Ten-Year Treasury. Many experts are interpreting those declining rates at as harbinger of an impending recession. It’s interesting to take note that we have seen this pattern twice before...
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