Generated by All in One SEO v5.0.0.1, this is an llms.txt file, used by LLMs to index the site. # Philadelphia Wealth & Asset Management, Registered Investment Advisors ## Sitemaps - [XML Sitemap](https://towerbridgeadvisors.com/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [News](https://towerbridgeadvisors.com/blog/) - [June 12, 2023- : The S&P 500 traded into Bull market territory last week on the back of a broad market rally. The broadening of the rally is key to continued optimism in the market. However, the possibility of a recession still looms, despite the rally.](https://towerbridgeadvisors.com/blog/june-12-2023-the-sp-500-traded-into-bull-market-territory-last-week-on-the-back-of-a-broad-market-rally-the-broadening-of-the-rally-is-key-to-continued-optimism-in-the-market-however-the-pos/) - [August 5, 2026 - Stock markets rebounded this week on lower oil prices coming on the heels of a temporary cessation of Middle East tensions. Oil prices dropped about 10% this week, and corporate profits have been coming through stronger than expected. SpaceX reported its first quarter as a public company, and equity markets are once again rocketing to new all-time highs.](https://towerbridgeadvisors.com/blog/august-5-2026-stock-markets-rebounded-this-week-on-lower-oil-prices-coming-on-the-heels-of-a-temporary-cessation-of-middle-east-tensions-oil-prices-dropped-about-10-this-week-and-corporate-profi/) - [July 29, 2026 - As overstretched AI valuations fracture against a hawkish Federal Reserve and mounting consumer credit strain, the rotation out of tech into value equities proves that single-sector concentration is risky.](https://towerbridgeadvisors.com/blog/july-29-2026-as-overstretched-ai-valuations-fracture-against-a-hawkish-federal-reserve-and-mounting-consumer-credit-strain-the-rotation-out-of-tech-into-value-equities-proves-that-single-sector-co/) - Market Commentary: The Great AI Unwinding and the Fed’s Next Gamble For the past two years, Wall Street operated on a dangerously simple playbook: buy artificial intelligence at any cost and ignore the rest of the market. That era of blind optimism may have hit a wall. Investors are staging a rapid exit from overhyped - [July 22, 2026 - The stock market is behaving like a duck swimming feverishly underwater, but on the surface seems to be gliding along. We have seen rapid rotation between sectors as investors try to decipher moves in oil prices, inflation, interest rates and earnings. Major bank earnings came in ahead of expectations this quarter, and the consumer appears to be maintaining strong spending levels. However, technology stocks have risen and fallen like the tides. We will gain more clarity from some of the large AI spenders this week.](https://towerbridgeadvisors.com/blog/july-22-2026-the-stock-market-is-behaving-like-a-duck-swimming-feverishly-underwater-but-on-the-surface-seems-to-be-gliding-along-we-have-seen-rapid-rotation-between-sectors-as-investors-try-to/) - If It Walks Like A Duck The rebound in stocks yesterday came despite a rise in crude oil prices, reigniting inflation concerns that pushed bond yields to the highest in two months. Global benchmark Brent crude oil breached $90 per barrel, the highest since early June, as investors weighed the risk of disruptions to global - [July 15, 2026 - While Wall Street celebrates temporary cooling inflation, the multi-trillion-dollar collision of relentless government deficits and historic AI infrastructure spending means interest rates may stay high—making long-term bonds a trap and exposing speculative, cash-burning stocks to a harsh awakening.](https://towerbridgeadvisors.com/blog/july-15-2026-while-wall-street-celebrates-temporary-cooling-inflation-the-multi-trillion-dollar-collision-of-relentless-government-deficits-and-historic-ai-infrastructure-spending-means-interest-r/) - The Price of Capital in an Era of Structural Demand Today’s consumer price index (CPI) report brought some welcome relief to the markets, showing that inflation in June cooled to 3.5% year-over-year—a solid step down from the 4.2% we saw in May. Core inflation, which strips out volatile food and energy costs, also moderated to - [July 8, 2026 - Like the old steam locomotive going coast to coast for America’s 250th birthday celebration, old school stocks have been back in favor recently. Meanwhile, nearly two thirds of the S&P 500 Technology stocks were trading in bear market territory this week. The market continues chugging ahead in a noisy fashion heading into the start of second quarter earnings season. This could either underscore the bull case for tech stocks over the back half of the year or keep the rotation into other sectors rolling along.](https://towerbridgeadvisors.com/blog/july-8-2026-like-the-old-steam-locomotive-going-coast-to-coast-for-americas-250th-birthday-celebration-old-school-stocks-have-been-back-in-favor-recently-meanwhile-nearly-two-thirds-of/) - Big Boy Barrels Through One of the world’s largest steam engine trains, Union Pacific’s “Big Boy No. 4014”, passed through Philadelphia this week on its coast to coast “America 250” tour. An impressive sight to see. Twenty-five Big Boy trains were commissioned exclusively for Union Pacific# Railroad, the first of which was delivered in 1941. - [July 1, 2026 - During the second quarter of 2026, exceptionally strong corporate profits and massive artificial intelligence capital expenditures drove market growth. Still, we see increasing headwinds from a hawkish Federal Reserve interest rate pivot and an unprecedented avalanche of new stock and debt issuance.](https://towerbridgeadvisors.com/blog/july-1-2026-during-the-second-quarter-of-2026-exceptionally-strong-corporate-profits-and-massive-artificial-intelligence-capital-expenditures-drove-market-growth-still-we-see-increasing-headwind/) - The second quarter of 2026 was a brutal tug-of-war. On one side, blockbuster corporate earnings and an insatiable appetite for artificial intelligence (AI) pushed stocks forward. On the other side, a hawkish Federal Reserve and a historic flood of new stock and bond offerings capped those gains. The headline economic numbers look great. Under the - [June 24, 2026 - Technology stocks took a tumble yesterday after reaching new highs on excessive optimism for earnings growth. As former Federal Reserve Chairman Alan Greenspan once remarked, “Excessive optimism sows the seeds of its own reversal.” While warnings about technology sector euphoria are not new, selling on Tuesday was triggered by a session of volatility in South Korea, the world’s best‑performing international market this year.](https://towerbridgeadvisors.com/blog/june-24-2026-technology-stocks-took-a-tumble-yesterday-after-reaching-new-highs-on-excessive-optimism-for-earnings-growth-as-former-federal-reserve-chairman-alan-greenspan-once-remarked/) - The Greenspan Put Alan Greenspan passed away this week at the age of 100. Greenspan was one of the most influential Federal Reserve Chairmen in recent history, serving as Fed chief for 19 years from 1987 to 2006. This was a period of record US economic expansion and a long, sustained period of low and - [June17, 2026 - As trillions of dollars in market value hinge on a “frothy” AI trade and the unproven profitability of massive IPOs like SpaceX, investors must resist the siren song of parabolic gains and maintain a disciplined, diversified strategy before the market forces a brutal return to earthy valuations.](https://towerbridgeadvisors.com/blog/june17-2026-as-trillions-of-dollars-in-market-value-hinge-on-a-frothy-ai-trade-and-the-unproven-profitability-of-massive-ipos-like-spacex-investors-must-resist-the-siren-song-of/) - Navigating the Froth and Staying the Course The opening matches of the FIFA World Cup tournament are now underway, capturing global attention with a familiar blend of high stakes, intense strategy, and rapid shifts in momentum. In many ways, the current financial landscape mirrors the early stages of a premier international tournament, where headline-grabbing plays - [June 10, 2026 - Mega-cap initial public offerings (IPOs) are being filed fast and furious. SpaceX is the first to come public this week, while OpenAI and Anthropic are not far behind. The IPO pipeline is now worth about $3.6 trillion. While the initial euphoria may wax and wane, it will take time to grow into these valuations.](https://towerbridgeadvisors.com/blog/june-10-2026-mega-cap-initial-public-offerings-ipos-are-being-filed-fast-and-furious-spacex-is-the-first-to-come-public-this-week-while-openai-and-anthropic-are-not-far-behind-the-ipo-pipelin/) - To Infinity and Beyond "To infinity and beyond!" is the iconic catchphrase popularized by fictional Buzz Lightyear in the “Toy Story” film franchise, first uttered in 1995. Voiced by actor Tim Allen, Buzz uses the phrase as an optimistic mantra to dream big, reach for the stars, and embrace limitless possibilities. SpaceX, Elon Musk’s aerospace, - [June 3, 2026 - While undisciplined investors set their capital on fire chasing the AI hype machine, Berkshire Hathaway’s multi-billion-dollar maneuvers prove that the greatest investment edge right now isn’t a smarter algorithm—it’s basic sanity.](https://towerbridgeadvisors.com/blog/june-3-2026-while-undisciplined-investors-set-their-capital-on-fire-chasing-the-ai-hype-machine-berkshire-hathaways-multi-billion-dollar-maneuvers-prove-that-the-greatest-investment-edge/) - In today’s investment landscape, it seems that there are two completely different corporate worlds. On one hand, we have the ongoing frenzy surrounding AI—a high-tech race where tech giants are spending money faster than a teenager with their first credit card. On the other hand, we have the world of traditional, brick-and-mortar businesses that actually - [May 27, 2026 - While today’s highly profitable AI leaders are structurally superior to the speculative firms of the 2000 dot-com boom, the market’s extreme concentration poses a severe valuation risk for retirees, making disciplined diversification essential before momentum shifts.](https://towerbridgeadvisors.com/blog/may-27-2026-while-todays-highly-profitable-ai-leaders-are-structurally-superior-to-the-speculative-firms-of-the-2000-dot-com-boom-the-markets-extreme-concentration-poses-a-severe/) - I spent some time over the Memorial Day weekend stepping away from the daily market noise to look at the bigger picture. As we enter the summer months, I wanted to focus my attention on the main topic that is on everyone’s mind. Today’s stock market feels incredibly familiar to anyone who watched the technology - [May 20, 2026 - Memorial Day travelers do not appear to be deterred by higher gasoline prices. Higher fuel prices are eating into travel-related company earnings, but bookings for cruises, hotels and air travel are up over last year. Consumer-related companies reporting earnings this week do not suggest any major changes in consumer spending trends short term.](https://towerbridgeadvisors.com/blog/may-20-2026-memorial-day-travelers-do-not-appear-to-be-deterred-by-higher-gasoline-prices-higher-fuel-prices-are-eating-into-travel-related-company-earnings-but-bookings-for-cruises-hotels-and/) - Hit the Road Jack Memorial Day is a day for remembering fallen U.S. military personnel who served in the United States Armed Forces. It is also considered to be the unofficial beginning of summer. A heatwave on the East Coast is a reminder of that. Right now, it looks like Americans are determined to keep - [May 13, 2026 - Amazon# is rolling out 30-minute delivery in certain cities in the U.S. That is less time than it takes to get a pizza delivered in many locales. While some everyday conveniences are getting faster and productivity is improving, some things are taking longer, such as mail delivery and passenger train service. AI is speeding up information gathering and analysis, but infrastructure bottlenecks are arising there too.](https://towerbridgeadvisors.com/blog/may-13-2026-amazon-is-rolling-out-30-minute-delivery-in-certain-cities-in-the-u-s-that-is-less-time-than-it-takes-to-get-a-pizza-delivered-in-many-locales-while-some-everyday-conveniences-are/) - This Time Is Different, Sort Of Amazon is rolling out 30-minute delivery service in certain cities in the U.S. Millions of U.S. customers can now get fresh groceries and household essentials delivered to their door in less time than it can take to get a pizza delivered in many locales. Amazon plans to expand this - [May 6, 2026 - April’s record rally proved that the AI infrastructure boom is the market’s new engine, yet with interest rate expectations shifting from cuts to hikes, the stage is set for a volatile mid-year collision between parabolic momentum and economic reality.](https://towerbridgeadvisors.com/blog/may-6-2026-aprils-record-rally-proved-that-the-ai-infrastructure-boom-is-the-markets-new-engine-yet-with-interest-rate-expectations-shifting-from-cuts-to-hikes-the-stage-is-set/) - [March 4, 2026 - Major stock market averages stumbled this week as the Middle East conflict rattled investors. However, markets recovered from yesterday’s morning lows, and the S&P 500 is down less than 1% year to date. This comes after the S&P 500 has been trading near all-time highs recently and after three strong years of market returns. Four of eleven S&P 500 sectors are down this year, although 7 sectors are in positive territory and five sectors are up 10% or more. The effects of this Black Swan event remain to be seen, depending upon the extent and duration of the conflict and its impact on energy supplies, economic growth and inflation. Stock market futures are indicated positive this morning.](https://towerbridgeadvisors.com/blog/march-4-2026-major-stock-market-averages-stumbled-this-week-as-the-midde-east-conflict-rattled-investors-however-markets-recovered-from-yesterdays-morning-lows-and-the-sp-500-is-down/) - [February 25, 2026 - While artificial intelligence is driving real business capabilities, the massive infrastructure costs and uncertain long-term profitability have triggered wild fluctuations in stocks tied to AI themes. Rather than reacting to these daily market swings, ignore the volatility and keep your focus on identifying the true long-term winners as they begin to demonstrate tangible financial success.](https://towerbridgeadvisors.com/blog/february-25-2026-while-artificial-intelligence-is-driving-real-business-capabilities-the-massive-infrastructure-costs-and-uncertain-long-term-profitability-have-triggered-wild-fluctuations-in-stoc/) - [January 14, 2026 - Following a strong, three-year bull market, we view the start of 2026 as a pivotal shift where sticky inflation, mixed earnings, and rising geopolitical tensions are replacing the era of easy, momentum-driven gains. While the near-term economy remains resilient, the market will need to see confirmation in upcoming earnings releases to continue its march higher.](https://towerbridgeadvisors.com/blog/january-14-2026-following-a-strong-three-year-bull-market-we-view-the-start-of-2026-as-a-pivotal-shift-where-sticky-inflation-mixed-earnings-and-rising-geopolitical-tensions-are-replacing-the-e/) - [November 17, 2025 - Last week saw massive rotation out of technology leaders into value stocks long forgotten in this year’s rally. Tech investors were spooked by a growing chorus of concerns around circular investing and stretched balance sheets. Some of the fears are real and some probably exaggerated. Given the strong performance over the last two years, some consolidation was clearly called for. Is the correction over? There certainly hasn’t been any panic or capitulation yet. If one looks closely, the big companies doing the best, experienced only modest declines in their stock prices. Those whose promises might have been exaggerated started to pay the price. That purge probably has more room to go.](https://towerbridgeadvisors.com/blog/november-17-2025-last-week-saw-massive-rotation-out-of-technology-leaders-into-value-stocks-long-forgotten-in-this-years-rally-tech-investors-were-spooked-by-a-growing-chorus-of-concern/) - [October 27, 2025 - With President Trump making news overseas, and Canada facing more tariffs, Wall Street will focus on the earnings of five big major tech companies this week. In the short-term, meaning between now and year-end, the prospect of continued solid earnings and lower short-term interest rates should keep stocks moving higher. But there are always warning signs. The biggie is debt. Too much debt burst the balloon in 1929 and again in 2008, the two biggest calamities of the last century. Debt levels aren’t quite threatening yet but they are moving in the wrong direction and bear watching.](https://towerbridgeadvisors.com/blog/october-27-2025-this-is-a-significant-week-in-back-to-the-future-movie-lore-the-famous-time-travel-movie-of-1985-highlighted-a-trip-back-30-years-and-also-ahead-30-years-predictions-of-future-t-2/) - [August 25, 2025 - The Fed’s shift in policy, as stated by Jerome Powell last Friday, moves away from a focus on inflation and more toward insuring full employment. Such a shift suggests more short-term rate cuts and a willingness to tolerate some inflation as long as it stays below 3%. A willingness to tolerate a bit more inflation may sound innocuous but it could lead to unanchored long-term inflation expectations and keep 10-year Treasury yields elevated. If so, the euphoria expressed in Friday’s market rally may have been a bit too exuberant.](https://towerbridgeadvisors.com/blog/august-25-2025-the-feds-shift-in-policy-as-stated-by-jerome-powell-last-friday-moves-away-from-a-focus-on-inflation-and-more-toward-insuring-full-employment-such-a-shift-suggests-more/) - [August 21, 2025 - This Friday we will receive commentary from the Federal Reserve after its annual gathering in Jackson Hole, Wyoming. The central-bank gathering has sometimes been a venue for marking shifts in Fed policy. Last year Fed Chairman Powell used it to signal that rate cuts were coming, and followed through the next month. The Snake River, which runs through Jackson Hole, provides an apt backdrop for the Fed’s meeting where the waters can be turbulent and winding. In the meantime, technology stocks have retreated this week and a number of consumer-focused companies have provided both encouraging and uncertain signals.](https://towerbridgeadvisors.com/blog/august-21-2025-this-friday-we-will-receive-commentary-from-the-federal-reserve-after-its-annual-gathering-in-jackson-hole-wyoming-the-central-bank-gathering-has-sometimes-been-a-venue-for-markin/) - [August 18, 2025 - The noise of front-page news doesn’t seem to coincide with record stock prices. War, ICE raids, violent storms and tariffs may be the topics of the Sunday talk shows, but the stock market cares more about earnings and interest rates. Earnings are rising and interest rates are stable. Will that continue? Earnings growth should slow a bit as the full impact of tariffs hits. While the Fed Funds rates should start to decline this fall, markets will focus on changes in the 10-year Treasury yield more than the Fed Funds rate.](https://towerbridgeadvisors.com/blog/august-18-2025-the-noise-of-front-page-news-doesnt-seem-to-coincide-with-record-stock-prices-war-ice-raids-violent-storms-and-tariffs-may-be-the-topics-of-the-sunday-talk-shows-but-th/) - [July 17, 2025 - Stocks rebounded after President Trump clarified his stance on Federal Reserve Chair Jerome Powell. While consumer and producer price indexes suggest some inflation moderation, particularly in services, certain tariff-exposed goods continue to see price increases. Despite these pressures, the U.S. economy shows underlying strength, exemplified by strong bank earnings and robust consumer spending, though the long-term impact of escalating tariffs remains a key uncertainty.](https://towerbridgeadvisors.com/blog/july-17-2025-stocks-rebounded-after-president-trump-clarified-his-stance-on-federal-reserve-chair-jerome-powell-while-consumer-and-producer-price-indexes-suggest-some-inflation-moderation-particu/) - [May 30, 2025 - Amidst a volatile market, significant economic risks such as high interest rates and trade policy are creating a tense environment where stock market gains may be capped. Key sectors, like housing, are already showing signs of strain from elevated rates, while the bond market remains turbulent. Therefore, a diversified and defensive investment strategy is recommended, emphasizing fundamental analysis and valuation discipline for stocks while holding high-quality bonds to navigate the expected volatility.](https://towerbridgeadvisors.com/blog/may-30-2025-amidst-a-volatile-market-significant-economic-risks-such-as-high-interest-rates-and-trade-policy-are-creating-a-tense-environment-where-stock-market-gains-may-be-capped-key-sectors-l/) - [March 27, 2025 - A couple of weeks ago, NCAA college basketball March Madness was just getting underway. After several surprise upsets and some chaos among millions of brackets, we now know which teams are in the Sweet Sixteen final games. Over the past 40 years, only three men’s teams have had a long streak of winning years making it into the finals. As in the stock market, last year’s darlings may not be this year’s victors, but good companies can reinvent themselves and market volatility can work both ways.](https://towerbridgeadvisors.com/blog/march-27-2025-a-couple-of-weeks-ago-ncaa-college-basketball-march-madness-was-just-getting-underway-after-several-surprise-upsets-and-some-chaos-among-millions-of-brackets-we-now-know-which-tea/) - [December 19, 2024 - The Federal Reserve lowered its key interest rate by a quarter percentage point yesterday, but signaled that only two more rate cuts may be coming in 2025 instead of the four cuts widely expected. Fed Chairman Powell said it is like “driving on a foggy night or walking into a dark room full of furniture: you slow down, you go less quickly.” That hawkish and more uncertain tone was not well received by markets. While the stock market is typically volatile on Fed decision days, the 10-year yield backed up to 4.5% and stocks dropped about 3% following the Fed’s remarks. Markets have been strongly positive this year, but a pause on this news provides a chance to focus on better valuations. Stock market futures are indicated positively this morning.](https://towerbridgeadvisors.com/blog/december-19-2024-the-federal-reserve-lowered-its-key-interest-rate-by-a-quarter-percentage-point-yesterday-but-signaled-that-only-two-more-rate-cuts-may-be-coming-in-2025-instead-of-the-four-cuts/) - [August 12, 2024 - Last week’s volatility exposes the heightened level of uncertainty in today’s financial markets. This week, the largest retailers report earnings and may offer some clarity into consumer spending trends. But uncertainty is likely to remain elevated until we get closer to the November elections.](https://towerbridgeadvisors.com/blog/august-12-2024-last-weeks-volatility-exposes-the-heightened-level-of-uncertainty-in-todays-financial-markets-this-week-the-largest-retailers-report-earnings-and-may-offer-some/) - [December 8, 2023 - Markets rallied yesterday but remained in tepid anticipation of today’s employment report and next week’s CPI report. The November employment report came in close to expectations with gains of 199,000. Not sure from the early read how much those numbers were enhanced by the end of the auto and Hollywood strikes. Markets reacted negatively to the report as month-over-month wages increased slightly more than anticipated. The unemployment rate fell to 3.7% as the labor participation rate rose to a pre-pandemic high.](https://towerbridgeadvisors.com/blog/december-8-2023-markets-rallied-yesterday-but-remained-in-tepid-anticipation-of-todays-employment-report-and-next-weeks-cpi-report-the-november-employment-report-came-in-close-t/) - [September 18, 2023 - Markets are directionless, torn between better economic activity and an increase in storm clouds from labor unrest to China. What is crucial is the future trend for interest rates. Investors will parse this week’s FOMC meeting for clues, but probably won’t get a much clearer picture for their efforts.](https://towerbridgeadvisors.com/blog/september-18-2023-markets-are-directionless-torn-between-better-economic-activity-and-an-increase-in-storm-clouds-from-labor-unrest-to-china-what-is-crucial-is-the-future-trend-for-interest-rate/) - [August 2023 Economic Update – Towering Deficits and a Ratings Downgrade; Do They Matter?](https://towerbridgeadvisors.com/blog/august-2023-economic-update-deficits-ratings-downgrade/) - [May 12, 2023 - While mega caps keep gaining steam, the average stock is now down for the year. Eight of the last nine trading sessions have been negative for the Dow Jones Industrial Average. The Fed may be done raising rates, but an all-clear signal is far off in the distance. Transitions are hard!](https://towerbridgeadvisors.com/blog/may-12-2023-while-mega-caps-keep-gaining-steam-the-average-stock-is-now-down-for-the-year-eight-of-the-last-nine-trading-sessions-have-been-negative-for-the-dow-jones-industrial-average-the-fed/) - [April 26, 2023 - Markets are being buffeted by crosscurrents. The banking crisis has come back into focus amid turmoil at First Republic. Earnings reports move individual stocks both ways. Bond market strength portends a weakening economy and slower inflation. Yet pockets of economic strength endure, mostly in the travel and leisure sectors. The net for equity investors is a standoff, one likely to endure for some time amid persistent rotation of leadership.](https://towerbridgeadvisors.com/blog/april-26-2023-markets-are-being-buffeted-by-crosscurrents-the-banking-crisis-has-come-back-into-focus-amid-turmoil-at-first-republic-earnings-reports-move-individual-stocks-both-ways-bond-mar/) - [April 2023 Economic Update – The Banks, The Economy and Valuation](https://towerbridgeadvisors.com/blog/april-2023-update-banks-economy-valuation/) - [October 26, 2022- Stocks have now risen sharply for three straight sessions as both the value of the dollar and the yield on 10-year Treasuries retreated. But disappointing earnings last night from a trio of tech names may spoil the party this morning. Or at least give it some reason to pause. The poor numbers from tech land remind us to look forward, not back. The great opportunities that technology created over the last quarter century are now maturing. The good news is that new opportunities will appear. They always do in a capitalistic entrepreneurial society.](https://towerbridgeadvisors.com/blog/october-26-2022-stocks-have-now-risen-sharply-for-three-straight-sessions-as-both-the-value-of-the-dollar-and-the-yield-on-10-year-treasuries-retreated-but-disappointing-earnings-last-night-from-a/) - [October 12, 2022- As we enter earnings season, attention will shift from interest rate fears to corporate performance. Pepsi kicked it off this morning with good results, hopefully an encouraging sign. As always, the story for the season will revolve around expectations versus reality. In July, reality beat expectations sparking the best rally of the year. The key will be the relative performance of the large tech names, notable laggards coming into earning season.](https://towerbridgeadvisors.com/blog/october-12-2022-as-we-enter-earnings-season-attention-will-shift-from-interest-rate-fears-to-corporate-performance-pepsi-kicked-it-off-this-morning-with-good-results-hopefully-an-encouraging-sig/) - [October 5, 2022 - Two huge up days in a row put bulls back in charge. Is this the market bottom? Only time will tell. It will largely depend on the severity of the pending economic downturn. But retreating interest rates, and weaking labor market statistics suggest the end to the Fed’s cycle of higher interest rates is nearing an end. That is at least one key ingredient to the end of a market downturn.](https://towerbridgeadvisors.com/blog/october-5-2022-two-huge-up-days-in-a-row-put-bulls-back-in-charge-is-this-the-market-bottom-only-time-will-tell-it-will-largely-depend-on-the-severity-of-the-pending-economic-downturn-but-r/) - [August 26, 2022 - Markets continued to consolidate the ~20% spike off June’s low with minor rebounds the past few days. In anticipation of Chairman Powell’s long-awaited speech at Jackson Hole today, stocks are priced for a somewhat hawkish update. Anything that deviates from that position could release energy in either direction. Other news items require some attention as well that could affect GDP going forward.](https://towerbridgeadvisors.com/blog/august-26-2022-markets-continued-to-consolidate-the-20-spike-off-junes-low-with-minor-rebounds-the-past-few-days-in-anticipation-of-chairman-powells-long-awaited-speech-at-jacks/) - [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.](https://towerbridgeadvisors.com/blog/june-13-2022-fridays-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-aga/) - [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.](https://towerbridgeadvisors.com/blog/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-its-an-ugly-picture-and-it-isnt-over/) - [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.](https://towerbridgeadvisors.com/blog/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-bo/) - [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.](https://towerbridgeadvisors.com/blog/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/) - [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.](https://towerbridgeadvisors.com/blog/march-21-2022-the-fed-did-what-it-said-it-would-do-economic-growth-remains-intact-and-the-war-isnt-getting-worse-by-leaps-and-bounds-that-set-the-table-for-a-strong-rally-in-stocks-is/) - [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.](https://towerbridgeadvisors.com/blog/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-clos/) - [February 2022 Economic Update – The New Normal?](https://towerbridgeadvisors.com/blog/february-2022-the-new-normal/) - [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.](https://towerbridgeadvisors.com/blog/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-e/) - [December 2021 Economic Update - “2022 Outlook"](https://towerbridgeadvisors.com/blog/december-2021-economic-update-2022-outlook/) - [November 22, 2021 - Record highs in the stock market masked an overall deterioration as slowing growth and rising costs impact more companies. While some of the pressures may be peaking or have already peaked, the clear sailing witnessed last spring is unlikely to return.](https://towerbridgeadvisors.com/blog/november-22-2021-record-highs-in-the-stock-market-masked-an-overall-deterioration-as-slowing-growth-and-rising-costs-impact-more-companies-while-some-of-the-pressures-may-be-peaking-or-have-alre/) - [November 17, 2021- It’s amazing how well corporations have navigated a minefield littered with disease, shortages, and rising inflation. The ability to pivot quickly is the hallmark of good leadership.](https://towerbridgeadvisors.com/blog/november-17-2021-its-amazing-how-well-corporations-have-navigated-a-minefield-littered-with-disease-shortages-and-rising-inflation-the-ability-to-pivot-quickly-is-the-hallmark-of-good-l/) - [October 2021 Economic Update - “This time is different - or is it?”](https://towerbridgeadvisors.com/blog/october-2021-economic-update/) - [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.](https://towerbridgeadvisors.com/blog/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-de/) - [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.](https://towerbridgeadvisors.com/blog/october-4-2021-a-tough-september-is-not-a-harbinger-of-whats-to-come-the-delta-variant-is-fading-and-interest-rates-are-not-likely-to-rise-as-fast-as-they-did-in-september-inflation-c/) - [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.](https://towerbridgeadvisors.com/blog/october-1-2021-concerns-they-are-aplenty-markets-ended-september-on-a-sour-note-as-major-averages-tested-last-weeks-spike-lows-the-key-to-the-next-5-move-revolves-around-equities-hold/) - [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?](https://towerbridgeadvisors.com/blog/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-w/) - [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.](https://towerbridgeadvisors.com/blog/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-e/) - [February 22, 2021 - The biggest factor this morning is the ongoing rise in 10-year bond yields. Higher yields mean lower P/Es for stocks. They impact growth stocks more than value names. As the economy recovers in a rising rate environment, watch for better relative performance from value sectors and a sharp headwind to excessive speculative activity.](https://towerbridgeadvisors.com/blog/february-22-2021-the-biggest-factor-this-morning-is-the-ongoing-rise-in-10-year-bond-yields-higher-yields-mean-lower-p-es-for-stocks-they-impact-growth-stocks-more-than-value-names-as-the-eco/) ## Pages - [Home](https://towerbridgeadvisors.com/) - Philadelphia Wealth & Asset Management, Registered Investment Advisors (RIA), Private Wealth Management | Tower Bridge Advisors - [Tom Blair - Qualified Plan Advisor, Portfolio Manager](https://towerbridgeadvisors.com/people/tom-blair/) - [People](https://towerbridgeadvisors.com/people/) - [Why TBA?](https://towerbridgeadvisors.com/why-tba/) - [Wealth Management Inquiry: Outstanding Wealth Management Services Since 2001](https://towerbridgeadvisors.com/wealthmanagementinquiry4/) - Philadelphia Wealth & Asset Management, Registered Investment Advisors (RIA), Private Wealth Management | Tower Bridge Advisors - [Factors to Consider When Choosing a Wealth Management Firm](https://towerbridgeadvisors.com/how-to-select-the-best-wealth-management-firms/) - [Form ADV & CRS Information](https://towerbridgeadvisors.com/adv-information/) - [Jeffrey Kachel - CFO, Principal & CTO](https://towerbridgeadvisors.com/people/jeffrey-kachel/) - [James M. 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