A sugar rush of epic proportions drove markets to the moon immediately following a Covid outbreak. Even the rebuilding during World War II didn’t see as much cash thrown into our economy (on an adjusted basis to today’s real dollar amount): The battle to tame inflation has likely hit its apex as market fears now …
June 22, 2022 – Yesterday’s relief rally looks to be another bear market one-day wonder. Any enduring rally needs to align with better economic news or signs that inflation is slowing. Oil prices seem to be stabilizing around the $110 per barrel range and other commodities have given back some ground lately. Those changes haven’t flowed through to retail prices yet, but they should. When signs are clearer there is room for stocks to rally.
Stocks staged a relief rally yesterday, but based on the futures market overnight, it isn’t likely to last. Bond yields moved a bit higher but are falling back this morning. Oil and crypto are also giving back yesterday’s gains. Last week was one of the worst weeks for stocks in recent memory. The first 5 …
June 17, 2022 – Fed officials gave what the markets priced in just 48 hours earlier, a 75bps increase in Fed Funds. This pull-forward of rate hikes comes in response to a robust job market and inflationary reports showing no slowdown in the economy or pricing. The fear now is that central banks only have one way to stop inflation, force a recession.
In what is becoming a common occurrence for markets, the Fed meeting was met with a substantial move higher in stocks during their Wednesday afternoon press conference, only to be reversed the following day. Chairman Powell’s timely leak to reporters on Monday opened the door for a 75bps hike, to which all but one voting …
June 15, 2022 – For months the Fed has been behind the curve when it comes to fighting inflation. As investors we have all paid the price. Today’s FOMC meeting gives it one more chance to be forceful, to roll out the heavy artillery. A 75-basis point rate increase is expected, but the real story will emanate from Jerome Powell’s post-FOMC press conference. There are already early signs of a slowing economy. The Fed simply has to convince investors that it will do whatever is needed to defeat inflation. It has talked the talk before. Investors want more details. If he can convince investors he has the right strategy and enough tools, markets can stabilize.
After three sessions that knocked the major averages down by a cumulative 7%+, yesterday’s modest loss almost seemed to be a victory. Today’s FOMC meeting outcome and an ensuing press conference with Fed Chair Jerome Powell will set the table for the markets’ next collective move. After last Friday’s dismal CPI report, a consensus seems …
June 13, 2022 – Friday’s report on Consumer Prices told us all that the fight against inflation will be harder than previously anticipated. This week, the Fed will increase interest rates again. It may suggest the ultimate Fed Funds rate this cycle will need to be higher than previously thought. None of this is good news for equity investors.
Friday’s CPI report didn’t make investors happy. Led by sharply higher energy expenses, and the fastest growing shelter costs in decades, the message loud and clear was that inflation shows no signs yet of abating. Recognizing that government steps to curb inflation only began in March, the numbers we are seeing now weren’t impacted one …
June 10, 2022 – CPI headlines should dominate trading action today. Markets have been trading in a tight, slightly negative range after an oversold bounce brought major averages up ~10% over the prior few weeks. Investors hope that today’s report offers positive glimpses at what we should expect over the slower summer months with respect to lower inflation.
By the time you get this report we will have an all-important inflation data point with CPI for May. I have no prediction, but a few analysts like JP Morgan’s team came out yesterday predicting a horrible number. Stocks dropped throughout the day. Most expect the CPI number to show a continued, albeit slow, decline …
June 8, 2022 – We are in that quiet zone between earnings seasons with little important economic news. Stocks move up one day and down the next. While Friday’s CPI report and next week’s FOMC meeting will be highlights, the collective outcome of second quarter earnings reports to be announced a month from now will be key to the market’s direction over the summer. Risks remain elevated.
Stocks staged an afternoon rally yesterday, erasing early losses. For the week to date, stocks are still in the red after falling 9 of the past 10 weeks. But the sickening pace of decline witnessed in April and early May has given way to a more volatile sideways pattern with a slight downward tilt. If …
June 6, 2022 – Last week stocks fluctuated in a seesaw pattern with a slight downward bias after the spectacular recovery two weeks ago. Obviously, a 6% weekly move can’t be sustained for long. It was encouraging to see markets act as well as they did in the face of uneven corporate and economic news.
Last week, four moments stood out: 1. JPMorgan Chase’s CEO Jamie Dimon’s somewhat pessimistic economic outlook 2. Microsoft’s# announcement reining in Q2 earnings estimates 3. The jump in bond yields 4. Friday’s employment report Mr. Dimon has a reputation of being both smart and candid. As a result, people pay attention to what he says. …
June 3, 2022 – A confusing “hurricane” update from Jamie Dimon of JP Morgan#. A lowered earnings projection from Microsoft#. Profit headwinds for Salesforce relative to expectations. Lackluster jobs report from ADP on private payrolls. An unexpected departure from Facebook’s# C-Suite. 10-year Treasury rates jumping 20bps back towards 3%. A lot of negative headlines, but stocks are holding their own…so far.
It is often noted that stocks bottom before all the bad news is reported and vice versa. We’ve discussed here numerous times that a really bad earnings update, followed by the stock going higher, is a great sign. Yes, the news is bad, but it is a stock’s reaction that matters more. Is all of …
June 1, 2022 – Stocks lost a bit of ground yesterday after a sterling week that essentially erased all of May’s losses. At yesterday’s close both the Dow Jones Industrials and the S&P 500 finished virtually unchanged for May, after last week’s gains of about 6% wiped out losses for the month. For the year-to-date, however, all three major averages remain solidly in correction territory, with the NASDAQ still in the midst of its own bear market, down well over 20%.
Last week’s rally triggered my two-day rule at Tuesday’s close, putting the offense back on the field for the first time this year. The sharp gains all week formed a very decisive V-shape that often signals the bottom of a bear market or major correction. However, sometimes the rally is a sharp recovery within the …
May 27, 2022 – Stocks spiked higher yesterday, shrugging off lackluster earnings updates from the likes of huge pandemic winners Nvidia and Snowflake. Retailer updates were impressive, showing the consumer is not done yet, especially the high-end and those ready to travel. Is this rally the start of something lasting?
Summary: Stocks spiked higher yesterday, shrugging off lackluster earnings updates from the likes of huge pandemic winners Nvidia and Snowflake. Retailer updates were impressive, showing the consumer is not done yet, especially the high-end and those ready to travel. Is this rally the start of something lasting? For the first Friday in two months, major …
May 25, 2022 – While the Dow tries to find its footing, the NASDAQ continues in steep decline as one former darling after another faces reality. It’s an ugly picture and it isn’t over for the speculative end of the market. for those looking for safer havens, more dependent on predictable cash flow growth, the picture is far better. The contrast between the two worlds was most evident yesterday.
Stocks fell once again although a sharp afternoon rally reduced the damage. Still, the NASDAQ fell another 2.4% after a prominent social media company lowered earnings guidance just a month after it previously offered a somber outlook. As a group, social media and related companies depend on advertising for revenue. With the economy slowing and …
May 23, 2022 – We avoided a bear market with a late day rally on Friday, but it’s hard to assume that a bottom is in. With stocks now down about 20%, we are more than halfway to a bear market bottom using historic averages as a guide. If we assume, at least for now, that any pending recession might be milder than average, hopefully, peak-to-trough, this market can be kinder to investors than the average bear market. Bear markets are ugly but they don’t last long, usually months, not years. Hopefully, we can see an end before too long.
Stocks fell once again last week despite a sharp rally Friday afternoon. For the Dow Industrials, last week was the eighth straight down week, the longest such losing streak since 1923, an interval that includes the Great Depression, the Great Recession, and dozens of bear markets. For the S&P 500 and NASDAQ, it was the …
May 20, 2022 – Retail earnings wreaked even more havoc on stock prices this week. Discretionary and Staple stocks suffered the most, and bonds finally offered a safe haven. A small relief rally yesterday came as options expire today. Volatility is still here, but valuations are back to historic norms.
Almost all of the S&P 500 constituents have now reported first quarter earnings. Every quarterly earnings update period ends with retailers, which is what we have received this week. Although not a total disaster for actual EPS, one could use that term to describe investor reactions this week. Home Depot#, Lowe’s#, Walmart#, Target, Kohl’s, BJ’s …
May 18, 2022 – Stocks have finally begun to rally, a sign that market valuations have normalized. Perhaps the recent sharp declines were too much. While a V-shape may be forming, hinting at a bottom, there are few signs that speculative fever has been fully purged or that investors can see clearly past the series of interest rate increases to come. An interim bottom seems more logical than a final one.
Stocks rallied once again, the second strong session of the past three. Bond yields climbed but remained within their recent range with the 10-year Treasury closing at slightly below 3%. In a market up just under 2%, transportation stocks were up more than 3%. Homebuilders rose a like amount. Leading semiconductor manufacturers rose 4% or …
May 16, 2022 – Stocks had a strong rally Friday after a sharp recovery Thursday afternoon, but to be convincing, we need another strong follow through today. We’ll see. Markets seem to have made a fair adjustment to a slowing economic outlook and a good part of the speculative purge has been accomplished. But, while stocks have returned to fair value, they may not yet be cheap enough to ignite a powerful, sustainable rally.
Stocks staged a solid rally on Friday on the heels of a sharp recovery Thursday afternoon. An encouraging sign was a strong last half hour although a surge late Friday may have been no more than short covering going into the weekend. The strength late Thursday and Friday, however, didn’t erase earlier losses in the …
May 13, 2022 – The 2nd worst start to the year for equities is finally bringing numerous signs of finding a floor. We’re not at the all-clear signal yet, but many world class companies are now trading at relatively favorable entry points for long-term investors. Numerous questions remain, so baby steps are suggested for those with excess cash waiting to re-enter markets.
Happy Friday the 13th! The CPI and PPI reports did little to quell inflation fears. Although they helped make the case that inflation is peaking, the decline in prices was not enough. Fueled by rents, airline fares and a methodology change to vehicle pricing that took out a lot of the recent declines, both CPI …
May 11, 2022 – The messages of the bond and stock markets over the past week have been quite different. Bond prices are about where they were before the FOMC meeting, while stocks continue in free fall. The NASDAQ has performed worse as speculation continues to be purged from the market. That process is well advanced but shows no sign of ending yet.
Yesterday was a volatile session of give and take after Monday’s rout. When it was over equities were marginally higher, although the Dow Industrials fell for the fourth straight session. This morning the 10-year Treasury yield sits at 2.93%, less than five basis points higher than where it was as the FOMC issued its statement …
May 9, 2022 – Last week’s market was highly volatile, with very little net change except for the high P/E NASDAQ names. The Fed did what was expected, and both earnings and economic data were in line with forecasts. Unless the outlook changes appreciably in the weeks ahead, expect volatility to slow. Against that backdrop, reducing risk is a better path than speculation.
The market has been volatile all year, but last week was volatility on steroids. The Federal Reserve on Wednesday did exactly what we outlined last Wednesday prior to the conclusion of the FOMC meeting. Exactly. It raised the Fed Funds rate by 50 basis points. It said it would likely do the same at the …
May 6, 2022- Cinco de Mayo was not a festive affair. Initially, it seemed Chair Powell threaded the needle yet again with stocks staging a massive run after his speech Wednesday afternoon. That rally only lasted a few hours as rates spiked and stocks got whacked yesterday. We remain range-bound but are teetering on critical support levels.
Previous Fed Chair Alan Greenspan was nicknamed the “maestro”, not because he resembled a Seinfeld character, rather, he oversaw the Fed during a steady economic growth period from 1987 – 2006. The Dow quadrupled during his tenure resulting in the greatest cumulative return for any Chairperson. His easy money policies eventually led to the Great …
May 4, 2022 – The key to the market today is Jerome Powell’s press conference at the conclusion of the FOMC meeting. What is key is whether or not he deviates from the current consensus on rate hikes and future reductions in the Fed’s balance sheet. Stocks are off to their worst annual start since 1939. I suspect today isn’t the day Mr. Powell wants to add more fuel to the fire.
Stocks struggled to turn in a positive performance for the second straight session after taking a shellacking last week. Earnings news is starting to be less and less consistent with what we have witnessed the past two weeks. Yields on 10-year Treasuries have touched 3% and fallen back. The trend remains higher but the pace …
May 2, 2022- When leadership gets taken out to the woodshed, the whole market dies. That is what happened last week. While some escaped (e.g., Microsoft) the loud and clear message is that the big boys of the S&P 500 are now at or near economic maturity. That isn’t a message a market already worried about interest rates and recession wanted to hear.
Stocks sank on Friday to close out one of the most miserable months for equities in many years. The NASDAQ took it on the chin the worst after Amazon# reported a weaker than expected outlook for its retail business when it reported results Thursday night. On Friday, Amazon# suffered its worst percentage loss since the …
April 29, 2022 – Some Eskimo-Aleut tribes have dozens of words to describe particular snow conditions, but it is hard to find a precise word to best describe the current economic and market environment. Low unemployment, sky-high inflation, war-impacted, supply-chain constrained post-pandemic reopening doesn’t quite capture it. Stagflation? Maybe. Soft landing? We will see. We should have better clarity as we get through this earnings season and into the second half of the year.
Anthropologist Franz Boas was traveling through Baffin Island in northern Canada during the 1880s and wanted to study the life of the local Inuit people. What Boas found was a language that can ascribe a deeper meaning and nuance in forming a single word. For example: qanuk: ‘snowflake’, kanevvluk: ‘fine snow’, qanisqineq: ‘fallen snow floating …
April 27, 2022 – You all know the old expression, “it’s darkest before the dawn”. Bear market moves can be sudden and vicious. Yesterday, leadership tech companies got hit particularly hard. When the carnage catches up to the best-in-breed, you know you are closer to the end than the beginning. Temporary relief is in sight, but longer term the focus will remain on the battle to tame the pace of wage and rent growth.
Stocks took another sharp leg down yesterday, and the selling spread aggressively to the top- tier tech names. Microsoft#, Alphabet#, Amazon# and Tesla all fell by 5% or more. After the close, both Alphabet and Microsoft reported earnings. From the market’s standpoint, it was a split decision. Alphabet missed forecasts but Microsoft beat. While both …
April 25, 2022 – For weeks Fed officials have been upping the ante, discussing more rapid moves in interest rates. Markets are no longer following the Fed; they are once again leading. Consensus says a neutral Fed Funds rate is near 3%, but that’s a guess not a fact. If 3% is too low, markets will have to take another leg lower. We will get a hint of that answer depending on the pace at which inflation recedes over the balance of this year. Thus, for now, the threat of higher rates and lower P/Es continues to weigh on stock prices.
Stocks got crushed on Friday as interest rates continued to climb. Key Fed officials last week began to speak of 75 basis point increases in the Fed Funds rate. Others tried to talk that back saying 75 basis point increments are unlikely for now, but the damage was done. A year ago, Fed officials still …
April 22, 2022 – Another volatile day on Wall Street with the usual suspects: Fed comments, spiking interest rates and damage in tech and growth stocks. We’re still in a tight range with minimal real movement for months now, except in bond land.
Stocks staged an impressive opening yesterday, led by solid earnings reports out of Tesla, airlines and the healthcare sector. Nearly 20% of S&P 500 constituents have reported first quarter results so far. Our next two weeks are jam packed with a lot more earnings updates and are sure to bring more fireworks for individual movers. …
April 20, 2022 – Yesterday’s rally was nice, but it needs follow through today to be taken seriously. Otherwise, investors still have to live in a world with cloudy crystal balls. While virtually everyone has an opinion, whether the pending economic slowdown evolves into a recession or not is much more a guess than a fact. As more data appears, futures can be better defined and volatility can fall. Until then, it’s more of the same, although earnings season will clearly add some data points.
Stocks soared yesterday, the best day in April. The Dow has now turned positive for the month, although the S&P still hasn’t and the NASDAQ is still down 4%. The 10-year Treasury yield continued to rise, soaring past 2.9%. When markets are weak, the business media gives more airtime to those espousing dire outlooks. They …
April 18, 2022 – We are entering peak earnings season. The focus will be almost exclusively on forward-looking guidance. Expect it to be tempered but positive. There are signs of a slowing economy but no signs yet of a pending downturn.
Stocks finished lower again on Friday with the NASDAQ Composite once again leading the decline. The 10-year Treasury yield ended the week at 2.83%, a high water mark post pandemic. Philadelphia became the first major city to require masks indoors once again. Given the rise of the newer Omicron variant and seeing the statistics from …
April 13, 2022 – Investors are increasingly assuming that a recession is likely. Stocks of cyclical industries highly dependent on both volume and price growth are getting slaughtered, a sure sign that thoughts of recession are quickly becoming imbedded in stock prices. Market assumptions aren’t always correct. Bond prices, while rising, don’t suggest that 3%+ inflation is embedded in long-term expectations. Perhaps some signs that inflation is moderating in the months ahead will be key to stopping the current market downdraft.
Stocks fell again despite a CPI report that was a bit better than expected. Investor fears of inflation continue to rise as real time survey data begins to show some slowdown. Slowdown isn’t recession, but no one can disprove a premise that deceleration won’t end until the economy is slipping backwards. Earnings season begins this …
April 11, 2022 – Markets remain both cautious and conflicted. Defensive stocks rule. But as evidence starts to appear in the months ahead that inflation will start to recede, markets will rotate once again. That inflection point is still ahead of us, but buying defensive stocks today, near all-time valuation highs, is much riskier than it was two months ago. Meanwhile, the purge of excess speculation continues. That battle isn’t over.
Stocks were mixed on Friday as interest rates continued to rise. The 2-10 year yield curve is marginally upward sloping once again although the 2-5 yield curve is inverted. Conservative utility, health care, and consumer staples stocks led the market Friday while tech and other high multiple names continued to lead the retreat. Clearly, investors …
April 8, 2022 – More Fed tightening measures and continued inflationary pressures create as much uncertainty as we can remember. When the range of outcomes is this wide, volatility is likely to persist. High quality assets remain the preferred play.
Fed Governor Lael Brainard warned us on Tuesday. Former Fed President Bill Dudley’s Op-ed followed on Wednesday, noting “One thing is certain, to be effective, it’ll (the Fed) have to inflict more losses on stock and bond investors than it has so far.” Meeting minutes released from the Fed on Wednesday afternoon confirmed what both …
April 6, 2022 – Fed Vice-Chair Lael Brainard threw a bucket of cold water on the heads of those hoping that inflation would somehow vanish without aggressive Fed intervention. Markets retreated and it looks like the rout will continue this morning. Fed minutes of the March meeting to be released later today may offer more details. In an economy that is slowing and facing strong Fed headwinds for many months ahead, it is premature to be overly optimistic.
Stocks fell sharply yesterday, with the NASDAQ leading the way down after Federal Reserve Vice-Chair Lael Brainard said simply that the Fed is going to go all out to fight inflation. 50-basis point rate increases are on the table at each meeting. In addition, the FOMC should lay out a map to reduce the size …
April 4, 2022 – Inflation woes have many causes but they all come down to too much demand. Even many of the supply shortages are caused by too much demand. Too many cars on the road create gridlock. The cures are obvious and the Fed has the tools. It remains unclear whether they can use them without creating a recession. In March, investors showed more hope than earlier in the year, but the conclusion simply hasn’t been written. Markets will adjust to the changing winds until that happens.
Stocks closed mixed Friday to start the second quarter. The S&P closed down close to 5% in the first quarter rallying hard in the last three weeks to cut losses for the quarter by more than 50%. As we start the second quarter, growth is starting to decline from the torrid pace of 2021 as …
April 1, 2022 – As the calendar rolls into April, we close out a wild first quarter. Somehow, we ended with just as many open-ended questions as when the year started. Under the surface markets have been volatile, offering risks and opportunities alike.
To say this quarter has been unusual would be an understatement. Before the start of 2022, we cautioned that easy money had been made in stocks, considering ~25%+ annual returns over the last three years. We did not expect this type of volatility: • Inflation accelerated even further with oil up 80% at one point. …
March 30, 2022 – Even a whisper of peace in Ukraine encourages investors as we saw yesterday. But Russian talk rarely matches Russian actions. The future course of markets is more dependent on the war against inflation, not Ukraine. That battle only started this month and could take years to play out. One doesn’t stamp out 6% inflation overnight. How that battle unfolds will determine the destiny of the stock market. If rates continue to move higher, bonds won’t be a satisfying alternative.
Stocks continued to rally as peace talks progressed, trying to end the Ukraine war. Bond yields fell sharply, especially at the long end of the curve. Any movement toward a secure and enduring peace is going to be difficult. There is much distrust. You can never listen to Russian words without watching their actions, often …
March 28, 2022 – Stocks continued to recover last week but higher interest rates slowed the pace. Investors are going to keep a laser focus on inflation and growth data. The impact of Fed tightening is months away, but investors will be looking for any indication that trends will move in the right direction without creating recession. There is enough momentum to avoid recession this year. Next year is still an open question.
Stocks managed to achieve a second week of gains despite a continued rise in interest rates. Investors took apparent advantage of the selling climax two weeks ago to scoop up bargains. Whether the sharp rally after an equally sharp decline constitutes an end to the market correction will depend on the economy’s course over coming …
March 25, 2022 – Investors continue to grapple with inflation, war news, Fed tightening and valuations. Historians will point to stocks not topping until earnings peak, inversion occurs and/or better alternatives. We got some answers over the past few weeks but cloudiness prevails, for now.
A few weeks ago, there were almost no positives to think of. Most investment advisors were bearish. Cash was sitting on the sidelines earning nothing. Short sellers were pressed. Russian invasion continued to look worse by the hour. Oil, wheat, natural gas and many other commodities spiked higher even after doubling since Covid. The most …
March 21, 2022- The Fed did what it said it would do, economic growth remains intact, and the war isn’t getting worse by leaps and bounds. That set the table for a strong rally in stocks. Is the bottom in? Or is this just a bounce? The answer may be a little yes and a little no. For some stocks, the bounce might be over, but if the economy stays solid, there remain plenty of opportunities.
Stocks rose sharply all week as the NASDAQ rebounded out of bear market territory and both the Dow and S&P 500 cut their 2022 losses roughly in half. Oil prices remained volatile closing at over $100 per barrel. Pain at the pump continues but it isn’t getting worse, at least for now. Interest rates rose …
March 7, 2022 – While the war outcome continues down a path leading to a Russian occupation of Ukraine, the economic costs are becoming both starker and more apparent. Gasoline prices are rising close to $0.50 per week. If anything, the pace is accelerating. Wheat, aluminum, copper and palladium are spiking as well. These root commodity price increases will flow into a massive array of products. Inflation is quickly becoming more supply constrained than demand driven. The Fed’s weaponry can’t increase supply.
Stocks fell last week for the fourth week in a row, a combination of inflation fears and the war in Ukraine. Bond yields fell amid a flight to safety. The news from Ukraine is discouraging, to say the least, but it isn’t unexpected. Russia has overwhelming military advantages and continues to make progress in its …
January 10, 2022 – If there was a message last week, it was that speculative fever is dissipating as the Fed winds down its pace of bond purchases. No one knows when the purging of speculation will end but it probably will be with a thud, not a whimper. Market rotation to financials, industrials and energy names suggests the economy continues to thrive despite Omicron. The rotation can go a bit farther. The high growth sector got very overpriced, outpacing cyclical and value stocks for years, and it could take several more months for the rotation to run its course, allowing for some intermittent bounces and reversals. The overall market is down only modestly as the speculative fringes blow apart.
It was a tough week for stocks particularly on the NASDAQ. The speculative end of the market took the biggest hit as bond yields rose in line with continued economic growth. I noted last week the relevance of the January barometer. While not always valid, there is a trend that says, “as goes January, so …
October 11, 2021 – Markets remain volatile as growth slows, interest rates rise, and Washington politics remain a mess. Until supply chain problems are resolved the picture is unlikely to change. Demand is strong but much of it is unfilled. Perhaps it is time for Washington to take notice.
Stocks gave up some ground on Friday but still finished the week with decent gains. Trading remained volatile. Leadership rotated between growth and value stocks several times depending on the economic news of the day and trends in interest rates. The week ended with 10-year Treasury yields crossing the 1.60% barrier for the first time …
October 4, 2021 – A tough September is not a harbinger of what’s to come. The Delta variant is fading, and interest rates are not likely to rise as fast as they did in September. Inflation concerns remain. However, that should mute future upside. Higher earnings, on the other hand, will mute the downside.
Stocks rallied at the end of a dismal September. While growth in September deteriorated a bit thanks to the persistence of the Delta variant of Covid-19, stocks fell due to a combination of issues, a slowdown in growth being just one. Interest rates rose, the Fed hinted at tapering bond purchases before year end, and …
October 1, 2021 – Concerns, they are aplenty. Markets ended September on a sour note, as major averages tested last week’s spike lows. The key to the next 5% move revolves around equities holding near current support levels. Near-term headwinds are compounding, pointing to more downside risk. Rest assured, this bull market is not over yet.
Another quarter is in the books as we enter October which historically has been a favorable seasonal time to be invested. This is especially true in years where stock market returns are already generous. History says we should expect a solid finish for 2021. Even after a nearly 5% drop across the board in September, …
June 18, 2021-Fed announcements usually take a few days before the market figures out what they really said. This time is no different as rates initially spiked but made a 180 degree turn yesterday. Winners and losers in the stock market also flip-flopped. What to do now?
Market participants, in both stocks and bonds, waited with bated breath for the conclusion to the 2-day Federal Reserve Meeting. After two straight months of worrisome inflationary data, lower than expected employment reports and a continued rise in consumer spending, many were frightened at the prospect of the Federal Reserve changing their stance and pulling …
May 21, 2021 – After a 3-week hiatus, buyers came rushing back to the markets. Technology stocks rebounded the most, coinciding with a slight reversal in interest rates. Taper talk is coming, and we examine what that means for markets from here.
After three straight days of losses in the overall market, bargain hunters stepped up to the plate yesterday with technology stocks leading the charge higher. The Nasdaq bounced back 1.8%, pointing towards hope of at least a short-term bottom after another mini-correction. The Dow closed up 0.5% and the Russell 2000 Small Cap Index gained …