Last Week: The FOMOTINA Rally (Fear of Missing Out There Is No Alternative) kicked into high gear, with U.S. stocks hitting record closing highs again on Friday and the S&P 500 registering a 1.65% gain, its biggest weekly rise since early September. The rally was...
Last Week: It was a pretty quiet news week, as the Wall Street Bears remained in hibernation, while the Chicago Bears emerged (a win is a win). As we moved into the ninth inning of earnings season, the blended (combines actual results for companies that have reported...
Last Week: The first movement of August 2019 sounded like a reprise of the atonal first stanza of October 2018, with Fed and Trade policies combining to hurt the ears and wallets of investors. On Wednesday the Fed delivered a 25-basis point reduction in the target...
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: At the end of August, we noted a disconnect between the news flow and the markets performance: “The often-cited adage is that the stock market climbs the wall of worry. I would suggest that the current market is instead climbing the wall of “whatever”,...
Last Week: Pessimism has taken root, as the impact of the “trade war” on global economies has become manifest. In a sporting contest there is usually a winner and a loser. You strategize to beat your opponent. Global trade is not a sporting contest. Quite to 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: Tuesday was a tough day, with the S&P 500 sliding 1.3% and the yield on the Ten-Year Treasury topping 3% inter-day. The rest of the week, the stock market made up those losses to finish unchanged, and the Ten-Year Treasury also finished where it...
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