Outbreaks and New Rates In our previous commentary, “War-Torn Week”, we adapted the blues song “Stormy Monday” to describe the tone of the market. We expressed our belief that in the upcoming week that the war would be the primary determinant of the direction of...
Growth Stocks Slip Growth investors have enjoyed a terrific party for the last five years, with the punch bowl spiked with zero percent interest rates and ultra-accommodative fiscal and monetary policy. During that period, the return on the S&P 500 Growth Index...
Cheer Over Fear With the holiday season approaching, the market produced one of its best weekly returns since Valentine’s Day, as buyers saw silver linings in all the otherwise cloudy news. Showing cheer rather than fear, investors shrugged off the consumer price...
Powell's Policy Persists On Friday, at the Jackson Hole Economic Symposium, Chairman Powell delivered the message that whereas tapering is coming, the Delta variant makes the timing uncertain. He also made it clear that the plan to taper does not suggest that any...
Last Week: In the Kuby’s Commentary version of “Rally, Rinse, Repeat,” we once again report that the market set new record highs, the economic data was mixed, the battle with COVID-19 raged on, and the politicians were mired in debate over the size and scope of...
Last Week: Trading was extremely volatile with the VIX surging over 50% to 33.09 and the S&P 500 shedding 3.31%. It seems worth noting that these spikes in volatility and sell-offs in equities occur regularly and should not be alarming. What is alarming is the...
Last Week: The wintertime blues seem to be settling in as this very strange year comes to a close. Perhaps my mood is colored by the Chicago Bears' inexplicable loss the previous Sunday, or the grey skies and blustery weather, but the news on Main Street seemed pretty...
Markets: What a difference a week makes. A blue undertow (Biden won, but the Senate appeared likely to remain with a Republican majority) swept into the sea of red and turned the market green. Volatility vanished and FOMOTINATE (Fear Of Missing Out There Is No...
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 market rallied towards record highs as the corporate earnings, trade, and Fed headlines were all somewhat sanguine. Corporate earnings continued to modestly exceed the low bar that was set for the third quarter, as the blended (combines actual results...
Last Week: The S&P 500 declined 1.01% and the Russell 2000 sank 2.52% as trade, IPO, impeachment, and economic concerns dictated the mood on Wall Street. The yield on the Ten-Year Treasury slipped 9 basis points to 1.68% and the Dollar gained 0.5% to test its...
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: The G20 Relief Party lasted through the Independence Day Holiday, with the market advancing for six straight days to reach a new record high on Wednesday. The very light volume suggested that many traders headed to their beach houses early in the week, and...
Last Week: “He rocks in the White House all day long Hoppin' and a-boppin' and singing his song All the little traders on Wall Street Love to hear the President go tweet-tweet-tweet” Adapted from the Bobby Day classic “Rockin Robin” These are strange times indeed that...
Last Week: The market treaded water until Friday morning, when a flurry of positive news stories invigorated Wall Street. Strong Chinese exports and money supply growth, record earnings form JPMorgan, a well-received DIS streaming analyst meeting, and a big $50B oil...
Last Week: The market held onto its post-Christmas gains as reasonably good corporate earnings outweighed new evidence of a slowing global economy and continued uncertainty over trade policy. On the earnings front the blended (combines actual results for companies...
Last Week: On Tuesday night, the mid-term elections went pretty much as planned, and the market responded with an impressive rally on Wednesday. Perhaps there was relief that the Democrats didn’t take control of both the House and the Senate, or perhaps there was...
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