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Weekly Market Blog Post
What’s on our mind? You can read about it in our blog. Whether it’s ideas from the industry or emerging trends, you can read about it here. Keep checking in. We’re glad to have you reading along.
Argentina: Is the Pendulum Swinging, Again?
When Argentina entered the 20 th Century, its prospects looked bright. On a per person basis, its economy was on par with Canada and Sweden and about two-thirds of the United States. This all changed in 1946 when the country elected...
Read MoreConsumer Spending Set for Slower Growth
Now that we’re about to enter the Christmas shopping season, expect even more focus than usual on the consumer over the next several weeks. We are supply-siders and so usually cringe when we hear analysts and investors dwell on...
Read MoreThe Election Outlook is a Tax Outlook
We’re now less than a year away from a presidential election and control of the White House, Senate, and House are all up for grabs. One of the biggest issues facing the winners is going to be how to handle the federal budget. As...
Read MoreGovernment Is Too Darn Big
Two weeks ago, the yield on the 10-year Treasury Note was hovering around 5%, and the S&P 500 was in contraction territory, down over 10%. But last week, the 10-year yield dipped to 4.6%, while the S&P 500 saw a 6% gain. This market...
Read MoreIt’s the Same Bear Market
The S&P 500 closed at 4,117 on Friday, more than 10% below its recent peak in late July. Some are saying it’s a brand-new bear market for stocks. In this view there was a bear market in 2022, a bull market from October 2022...
Read MoreShow All
Growth Surge in Q3 Masks Weak Trend
We still think a recession is coming, but it definitely didn’t start in the third quarter. Instead, as we set out below, it looks like real GDP expanded at a 4.7% annual rate. If we are right about that number, that would be the...
Read MoreBig Government Weighing on Growth Octob
At the end of October we will get our first look at real GDP growth for the third quarter and it looks like it was very strong. We’ll have a more exact estimate a week from now– after this week’s reports on retail...
Read MoreCrisis Management Government Leads to No Good
Back in 2008, Ben Bernanke and Hank Paulson, using fear of financial collapse, convinced President Bush and Congress to 1) pass a $700 billion bailout of banks (called TARP) and 2) allow the Federal Reserve to pay banks interest on...
Read MoreTax Policy Outlook
The fiscal year ended last week, alarms went off both literally and figuratively, and a last-minute deal was reached to keep the government open for another forty-five days. Later in October the Treasury Department will figure out the...
Read MoreDon’t Fall for the Q3 Head-Fake
We have plenty of data reports to go, but, so far, the third quarter is shaping up to be a strong one for the US economy. The Atlanta Fed’s GDP Now model is tracking a Real GDP growth rate of 4.9% for Q3, which would be the...
Read MoreHigher Rates & A Shutdown On The Menu
The University of Colorado Buffaloes are undefeated and suck up a lot of oxygen in the college football world. After just three games as the new head coach, Deion Sanders was interviewed by 60 Minutes. For now, the Buffs have gone from...
Read MoreOur Stagflationary Future
A month ago, many people were pretty sure serious inflation concerns had passed. After the equivalent of 22 quarterpoint rate hikes and the biggest drop in the M2 money supply since the Great Depression, consumer prices rose only 0.2%...
Read MoreFiscal Madness
Back in the 1980s, President Reagan took enormous political heat (Sam Donaldson comes to mind) for being fiscally irresponsible. His offense? Presiding over a budget deficit that peaked at 5.9% of GDP in Fiscal Year 1983. But at least...
Read MoreStocks Look Pricey
At the heart of our assessment of the stock market is our Capitalized Profits Model. That model takes economy-wide profits (excluding profits or losses generated by the Federal Reserve) quarter by quarter going back nearly seventy...
Read MoreWhere is the Economy?
What’s going on with the markets and the economy? Long-term Treasury yields are up substantially since last Fall while the stock market, after a big rally, has stumbled so far this month. Meanwhile, the real economy appears to...
Read MoreAn Age of Fiscal Limits
Wars cost money, and throughout history countries have borrowed to fight them. There are plenty of examples of wars bankrupting countries, but the US was so dominant in the 1940s that at the end of World War II, its debt only cost...
Read MoreHere’s Something to “Fitch” About
What would you do if you won the Mega Millions? It’s now up to a record $1.55 billion! We would start a not-for-profit to educate people not to play the lottery. Why? Your odds of winning are 1 in 302.6 million…you are 70...
Read MoreNot All Recession Theories Make Sense
Austrians are different than Keynesians. Austrians think recessions are caused by government failure, while Keynesians think they are caused by market failure. Take the 2008 financial panic. Was it market failure and bad business...
Read MoreStill Growing
No one should be popping champagne when they see Thursday’s GDP report. The good news is that it won’t be negative. The bad news is that even if it hits our estimate of 2.1% this is a far cry from the robust growth of the...
Read MoreHas the Inflation Threat Passed?
The best news last week was that inflation came in below expectations for June. Consumer prices rose a moderate 0.2% for the month, while producer prices increased only 0.1%.That was good news for both stocks and bonds, because it made...
Read MoreStill Overvalued
Prior to 2008, when the Federal Reserve ran a “scarce reserve” monetary policy, just about every bank in the US had a federal funds trading desk. These trading desks lent and borrowed federal funds (reserves) amongst each...
Read MoreBurns or Volcker?
We get a big bunch of data reports this week: GDP revisions and economy-wide corporate profits for the first quarter; durable goods, new home sales, personal income, and consumer spending for May; home prices for April. Throw in some...
Read MoreIs the Recession Threat Dead?
Lately, it’s been easy to see the optimism. As of the Friday close, the S&P 500 is up 15% so far this year (not including dividends) and up 23% (again, without dividends) versus the lowest bear-market close back in October.Some...
Read MoreIt’s Still About the Money
The Federal Reserve will meet this week and announce its decisions on Wednesday. As of the close on Friday, the futures market indicated about a 30% chance of the Fed raising short-term rates by a quarter point, with about an 85%...
Read MoreJobs With Little Growth Means Less Productivity
We have used the word “unprecedented” to talk about the economy during and after COVID. We have never before locked down economic activity, while printing trillions of new dollars to help finance trillions of extra...
Read MoreDiscount the Happy Talk
The stock market finished Friday on a high note, with the S&P 500 index just north of 4,200 for the first time since August 2022 and up 17.6% versus the market bottom in October.Part of recent gains are related to optimism about the...
Read MoreAgents of Change?
If you’ve been to a high school or college commencement lately, then you know the drill: at some point at least one speaker will urge the graduates to be “agents of change,” suggesting they’d like to see these...
Read MoreBattle of the Budget
It’s hard to open up a newspaper these days and not see a scary story about the debt ceiling debate. The Biden Administration is saying that a “default” is approaching if an agreement isn’t reached soon.The US...
Read MoreBank Problems Aren’t Over, But It’s Not 2008
Yes, we have banking problems. No, this is not 2008. It’s much more like the 1970s Savings & Loan problems. In other words, we do not have credit problems today, we have duration (asset-liability) problems. These are exacerbated...
Read MoreAll Eyes on the Fed
For nine of the last fifteen years, few people thought about the Fed. Sure, we discussed QT and QE, but the Federal Reserve held interest rates at zero year after year. In 2017 and 2018, they lifted rates and it was all anyone talked...
Read MoreCloser to a Turning Point
In spite of weakness in some economic data, problems in the banking sector, and much higher interest rates, real GDP in the first quarter will almost certainly show moderate growth. Meanwhile, the S&P 500 is 15% higher than its low...
Read MoreJanuary Surge Kept Q1 Positive
The US economy is being tugged in two different directions right now. On the positive side we have the lingering effects of the massive stimulus of 2020-21, the renormalization of the service sector after COVID Lockdowns, and, as...
Read MoreHow to Lose Reserve Currency Status
History is full of economic and societal collapses. The Incan and Roman societies disappeared, the Ottoman Empire fell apart, the United Kingdom saw the pound lose its reserve currency status. So, anyone who says the US, and the dollar...
Read MoreStill Bearish
If you were bullish for 2023…congratulations! The S&P 500 rose 7.0% in the first quarter and, although we still have more data to analyze before we finalize our prediction, it looks like real GDP grew at about a 2.0% annual rate...
Read MoreThe Fed Waffles
The Federal Reserve raised short-term interest rates by another quarter point on Wednesday. That, by itself, was clear, with the Fed now targeting a range for short-term rates between 4.75% and 5.00%. The problem was that the Fed...
Read MoreHeading Toward a National Bank?
The late great Supreme Court Justice Antonin Scalia was often in dissent in key legal cases during his long career. Almost thirty years ago, he wrote that “Day by day, case by case, the Supreme Court is busy designing a...
Read MoreIgnore the Crazy
While many investors are focused on the financial troubles affecting Silicon Valley Bank (SVB) and whether those troubles will spread, there were two other major issues that hit the markets last week: the Biden budget and Fed Chief...
Read MoreWhat Happened to the Recession?
In multiple ways, this is the most difficult time we have ever seen to make a forecast. “Unprecedented” actions by government – locking down the economy, printing, borrowing, and spending trillions of extra dollars...
Read MoreHard Landing, Soft Landing, or No Landing
In the past few weeks, a growing chorus of economists and investors have decided that the pessimistic narrative had it wrong all along, that the US isn’t headed for a hard landing, which would mean a recession, it isn’t...
Read MoreMonetary Mayhem Clouds Crystal Ball
You can’t read or watch financial news these days without a heavy dose of speculation about what the Fed is going to do with short-term interest rates, when it’s going to do it, and how long it’s going to do it for...
Read MoreJanuary Data Get Hot
Markets have been volatile, with reports convincing many that the Fed is done hiking rates. But this week, we get data that may change some minds. Why? Because the economic reports for January are likely to come in hot, with inflation,...
Read MoreThe Game Isn’t Over
At the beginning of the season, not many predicted that the Philadelphia Eagles would be in the Super Bowl this year. But, they had a fantastic season and are favored over the Kansas City Chiefs. Predicting this economy is equally hard...
Read MoreDebt Limit Drama
The US federal budget is on an unsustainable path…but not for the reasons that most people think.Yes, the national debt is $31 trillion, well higher than annual GDP, and only going higher. Yes, the budget deficit last year was...
Read MoreRearview Mirror OK, Collision Ahead
First, the good news: we estimate that real GDP grew at a solid 2.8% annual rate in the fourth quarter. But you shouldn’t dwell on the solid GDP report that comes out Thursday. Why? Because the report shows what’s going on...
Read MoreSoft Landing?
We wrote last week about the soft landing that markets now seem to expect. If the US does have a soft landing it would be because the Federal Reserve tightened enough to slow inflation, but not enough to throw the economy into...
Read MoreNot Goldilocks
Not long after Friday’s Employment Report multiple analysts and commentators were calling it a “goldilocks” report, by which they meant it showed that the economy was neither “too hot” nor “too cold...
Read MoreThe Housing Outlook for 2023
The housing sector was a huge and early beneficiary of the super-loose monetary policy of 2020-21. But, once the Fed started tightening, housing took the lead downward, as well. This isn’t a repeat of the 2006-11 housing bust,...
Read MoreStill Unprecedented
What a difference a year makes!One year ago the Federal Reserve was forecasting that real GDP would grow a strong 4.0% in 2022, that PCE prices would be up a relatively moderate 2.6%, and we should expect a grand total of three 25...
Read MoreS&P 3,900 – Dow 33,000
Predicting stock values in 2023 is tough. Unprecedented actions during COVID leaves a wide range of possible outcomes.Let us explain.As always, we start out with our Capitalized Profits Model. That model takes a government measure of...
Read MoreA Plow Horse With Shin Splints
Our position on the economy has been that the US is headed for a recession, but we’re not quite there yet. Nothing in all the recent data reports changes our minds. Look for a recession to start in the second half of 2023, with...
Read MoreThis Rally Shouldn’t Last
It’s that time of the year, and we will all hear and read a great deal about Black Friday, Thanksgiving Weekend, and Cyber Monday during the next few days. Many pundits are going to make sweeping conclusions about the economy...
Read MoreThe Aftermath Economy
We will forever believe that locking down the economy for COVID-19 was a massive mistake. There is virtually no evidence that death rates were lowered by government mandates and lockdowns.Business activity in certain sectors would...
Read MoreDemocrats Overperform
The Democratic Party substantially beat expectations on Tuesday, already having clinched control of the US Senate for the next two years and, for now, hanging on to a (very slim) possibility of keeping control of the House of...
Read MoreBeware a “Gridlock Rally”
Election day is tomorrow and will bring results for key Senate, House, and Governors races from all around the country, plus local legislative races and more. For the federal races, our projection is that the Republicans are...
Read MoreDrop in Budget Deficit is a “Sugar High”
After nearly three years of the economic and financial market distortion due to COVID lockdowns, money printing, and massive government borrowing, some of these distortions are subsiding. For example, the federal budget deficit in...
Read MoreThe Last Hurrah?
Most investors we talk to think the US is already in a recession or that a recession will start by the end of 2022. We think they’re wrong on both counts.Yes, we are fully aware that the reports on real GDP growth for the first...
Read MoreSecond Thoughts on Bernanke’s Nobel Prize
The Nobel Prize in Economics was recently awarded to former Federal Reserve Chairman Ben Bernanke, as well as professors Douglas Diamond and Philip Dybvig, for their work on understanding the role banks play in the economy, especially...
Read MoreReports: Solid Growth, Persistent Inflation
Recent economic reports further undermine the politically-motivated argument from earlier this year that the US was already in a recession. They also undercut the Fed’s hopes that inflation will soon subside.On the job front,...
Read MoreNo Recession, Yet
We are not “recession deniers,” we just don’t think one has started yet. The distortions of economic activity from lockdowns, massive deficit spending, and money printing are immense. It’s hard to imagine the US...
Read MoreMore Trouble Ahead
We had been bullish on stocks all the way back to March 2009, when mark-to market accounting was fixed and the Financial Panic started to recede. At that time the S&P 500 traded as low as 677. What a time to buy!After that we remained...
Read MoreWill Higher Interest Rates Tame Inflation?
We know many people think we are beating a dead horse, but this horse is far from dead. Instead, she’s in the middle of one of the most important races of her life. What we have been talking about – and will keep talking...
Read MoreThe Fed: What to Expect and What to Watch
If you’re still wondering how much the Federal Reserve will raise short-term interest rates next week, you should wonder no more: the Fed is almost certainly going to raise rates by three-quarters of a percentage point (75 basis...
Read MoreBiden’s Student-Loan Fiasco
The Dow Jones Industrial Average fell more than 1,000 points on Friday, caused apparently by Fed Chairman Jerome Powell’s attempt to use a brief speech to channel the ghost of Paul Volcker. Obviously, this was part of the...
Read MoreSilly Season
With less than three months left before the 2022 midterm elections, it is officially silly season when it comes to interpreting economic reports. For many analysts it’s pretty much all politics all the time, with data seen...
Read MoreTax Hikes: Bad, But Bearable
With the Senate having passed a budget plan yesterday with only Democratic votes as well as a tie broken by Vice President Harris, it is only a matter of time before President Biden signs the first significant tax hike since the...
Read MoreMonetary Muddle
The Federal Reserve raised short-term interest rates by three-quarters of a percentage point (75 basis points) on Wednesday. The day before, the Fed had released M2 money supply data for June and it fell slightly, the second decline in...
Read MoreStill No Recession
To many investors, this week’s GDP report is more important than usual. The reason is that real GDP declined in the first quarter and might have declined again in Q2. If so, this could mean two straight quarters of negative...
Read MoreRefocusing the Fed
If you follow the financial press, the conventional wisdom has come to the simple conclusion that the way to fight inflation is raising interest rates. Unfortunately, this is just not true. Yes, raising rates may slow the economy, but...
Read MoreMortgage Reset Alarmism Is Off the Mark
Some investors think the US is already in a recession. As we wrote two weeks ago and as recent data have confirmed, we don’t think that’s the case.Industrial production is up at a rapid pace so far this year, while payrolls...
Read MoreHow About More Freedom?
As we celebrate 246 years of national independence, our country is now more than two years into an economic recovery from the two-month COVID Lockdown Depression. Although the economy has improved dramatically from the complete...
Read MoreWe’re Not Already in a Recession
Real GDP declined at a 1.5% annual rate in the first quarter and, as of Friday, the Atlanta Fed’s “GDP Now” model projects zero growth in Q2.We still think real GDP will turn out to be positive in the second quarter,...
Read MoreRespect the Bear
We became bullish about stocks once mark-to market accounting was fixed in March 2009. We were also bullish after COVID-19 hit. We got called “perma-bulls,” but as we look back at the low interest rates and healthy profit...
Read More50 or More?
All eyes will be on the results of the Federal Reserve meeting on Wednesday when it announces how much it’s going to raise short-term rates, its new projections for the economy and short-term rates for the next few years, as well...
Read MoreNo Hurricane, Yet
JP Morgan CEO Jamie Dimon caused a stir lately when he talked about a “hurricane” hitting the US economy. We think he may eventually be right, but is way too early. The employment report for May confirmed that the US...
Read MoreThe Outlook for November
We are now about five months away from the mid-term elections that will decide who controls the Senate and House of Representatives for the next two years.For the House, we think the Republicans are overwhelming favorites, with odds of...
Read MoreRiding the COVID Rollercoaster
On Friday, news of a COVID-19 variant identified in South Africa, and the announcement of new travel restrictions, sent markets reeling. This is obviously not the only variant, and it won’t be the last, either. In our opinion,...
Read MoreInflation Returns
Inflation is back and worse than it’s been in decades. Consumer prices rose 0.9% in October and are up 6.2% in the last twelve months. Two more months of moderate increases, and the CPI will be 6.5% in 2021, the highest inflation...
Read MoreTuesday Results and the 2022 Economic Outlook
In spite of what listening to the mainstream media might make you think, the voting public doesn’t change much from year to year or election to election. As a result, when leaders try to take policy too far in one direction,...
Read MoreEyes on the Fed
Investors will be focused on the Federal Reserve this week and our expectation is that it will finally announce an overdue tapering of quantitative easing. In addition, we expect Chairman Jerome Powell to make it clear in the press...
Read MoreSlower Growth in Q3
Keynesianism can temporarily giveth, but ultimately always taketh away…and then some. When the US fell into the COVID crisis, the federal government went on a massive spending binge. Pre-COVID, in the twelve months through March...
Read MoreRespect Millennials
Politics today is in large part about pitting one group against another and convincing one side they’ve been treated unfairly. One of those groups is the younger generation of workers known as Millennials, who are supposedly up...
Read MoreFocus on Data, Not Spin
In 2009, after overly strict mark-to-market accounting rules were altered, we said the Financial Crisis was over. It was hard to get our voice heard, though, because both sides of the political aisle were busy saying the economy stunk....
Read MoreThe Cost of Lockdowns
Last March, when the government was considering whether to lockdown the economy, we argued that the longer we stayed locked down the more permanent the damage we would do to the underlying economy. It is now clear that the cost of the...
Read MoreLess Government, More Employment
Usually, the most important economic data report every month is the Employment Report and usually that key report comes out the first Friday of every month. But this month is throwing one of those periodic knuckleballs and so we need...
Read MoreResist Inflation Complacency
Some analysts and investors breathed a big sigh of relief on inflation when it was reported last week that the Consumer Price Index rose 0.3% in August versus a consensus expected 0.4%. But we think any sense of relief is premature....
Read MoreStocks Versus the Economy
If you’ve read our two most recent Monday Morning Outlooks, you know we raised our forecast for the S&P 500, but lowered our forecast for real GDP growth. How can that be? The first thing to recognize is that when we say...
Read MoreFed Being Tempted Into SIN
Narratives get more energy these days because of social media and cable TV, but they’ve always existed. Back in the 1970s, one narrative was that inflation was not caused by too much money creation by the Fed, as Milton Friedman...
Read MoreCapitalism vs. Socialism
As we wrote last week, it’s not possible to analyze the economy these days without focusing heavily on what government is doing. Between the Federal Reserve, fiscal policy, and COVID-related restrictions, little in our lives...
Read MoreProjecting Government
In an ideal world, analysts and investors wouldn’t have to spend much time, perhaps none at all, trying to manage around changes in government policy. In that world, government – be it in terms of spending, taxes, or...
Read MoreThe Seeds of Stagflation
Last week, the government reported real GDP in the US grew at a 6.5% annual rate in the second quarter and was up 6.4% at an annual rate in the first half of 2021. Real GDP is now 0.8% larger than it was at its peak just prior to COVID...
Read MoreInflation, Shutdowns, Spending
Someone once said, “technology has never moved this fast, and at the same time, will never move this slow again.” So true! A partial list of recent technological advances includes: messenger RNA (mRNA) gene therapies, 5G...
Read MoreStrong Growth in Q2
Another quarter for consumers to rely on massive stimulus payments, extremely loose monetary policy, and the continued re-opening of the US economy combined to push real GDP up at a very rapid pace in the second quarter, with the...
Read More4,500…Or Higher
Many are convinced that a US stock market correction, or even a bear market, is inevitable. So, when the S&P 500 was down 1.6% last Thursday, many thought it had arrived. Then, the S&P 500 rebounded and hit a new all-time high on...
Read More“Twin Deficits” Won’t Tank the Dollar
Many analysts have been thinking and writing about the “twin deficits” and whether the record-breaking size of those two deficits, combined, mean the US dollar is about to plummet versus other currencies. Before we get into...
Read MoreWho Will Be the Next Fed Chief?
One of the key decisions President Biden will make later this year is who is going to run the Federal Reserve for the next four years. Current Fed chief Jerome Powell’s term as chairman runs out in February 2022. We think the...
Read MoreThe “Fake Tight” Labor Market
Is the United States’ job market tight? Well, that totally depends on your perspective. From a national perspective, it certainly isn’t tight. Total nonfarm payrolls were 144.9 million in May 2021, still down 7.6 million...
Read MoreTaper Tantrum Two?
To drive home his commitment to easy monetary policy and low interest rates in mid-2020, Federal Reserve Chairman Jerome Powell declared the Fed was not even “thinking about thinking about raising rates.” The Fed meets...
Read MoreThere’s Nothing Normal About This Recovery
We keep hearing people make comparisons between this recovery and those of the past as if it’s apples-to-apples. For example, comparing job growth today to job growth after the 2008-2009 Panic. All in an effort to make the case...
Read MoreA Question for the Fed
It’s not a surprise. Inflation is running hot. But, is it transitory and temporary, or is it real and here for the longer term. How hot will the Federal Reserve let it run, and for how long? When does transitory and cyclical...
Read MoreUnsustainable
The US economy is recovering rapidly from the COVID-19 disaster. The rollout of vaccines, the lifting of restrictions, loose monetary policy, and a massive increase in government spending are all playing their parts. The problem is...
Read MoreBiden and Powell Versus Summers and Dudley
One of the best economic debates that’s happening right now isn’t between Republicans and Democrats or liberals versus conservatives, it’s between policymakers who want to go full steam ahead with as much fiscal and...
Read MoreResisting the Budget Blowout
President Biden and Congress agreed to a roughly $2 trillion stimulus back in March and are now contemplating two new additional multi-trillion dollar pieces of legislation, on both infrastructure and social spending, as well as some...
Read MoreThe Sugar High Economy
Mix extremely loose monetary policy, a federal government cutting checks like it’s going out of style, and extensive roll-out of the COVID-19 vaccines, and what do you get? Answer: Some really strong economic data. The problem is...
Read MoreYes, Stocks Are Still Cheap
The S&P 500 fell almost 35% between mid-February and mid-March 2020, during the initial stages of the pandemic. It bottomed at roughly 2,224 during the nationwide strategy of shutting down for “15 days to slow the spread.”...
Read MoreHousing Boom to Continue
Housing prices have soared in the past year. The national Case-Shiller index is up 11.2% in the past twelve months, the largest gain since 2005-06. The FHFA index is up 12.0% in the past twelve months, the largest on record (going back...
Read MoreJobs Are Booming
When the scientists said “15 days to slow the spread,” some of us actually believed that by Easter the shutdowns would end. That was last year. Now, a full year, and $5 trillion in government spending later, we may finally...
Read MoreTax Hikes Are Coming
The federal budget deficit hit an all-time record high of $3.1 trillion last year. With the passage of the recent blowout “stimulus” bill, it’s set to be even higher in 2021. Now we watch and wait for a potential...
Read MoreThe Fed, Regulation, and MMT - Irresponsible
You’ve got to hand it to the Federal Reserve. With the cleverness of a seasoned head coach – think Jim Boeheim leading Syracuse in the NCAA basketball tournament – they figured out how to accomplish a great deal while...
Read MoreInflation and The Fed
We believe inflation is still, and always will be, a monetary phenomenon. It is defined as “too much money chasing too few goods and services” – but that doesn’t mean every period of higher inflation is going to...
Read MoreThe Fed Can’t Fix COVID Lockdowns
The Full Employment and Balanced Growth Act of 1978 gave the Fed a “dual mandate” – to promote maximum sustainable employment and stable prices. Over the years, the meaning of these two mandates has changed. Initially...
Read MorePowell Disses Uncle Milty
Those of us who are concerned about inflation increasing faster than the Federal Reserve anticipates are focusing on the rapid increase in the M2 measure of the money supply. This measure has soared since COVID-19 hit the US, up about...
Read MoreOverstimulation on the Way
Things are looking up for the US economy. Later this week we’ll get an update on real GDP growth for the 4 th quarter of 2020. We estimate that’ll be revised up to a 4.3% annual rate of growth from a prior estimate of 4.0%....
Read MoreIt’s Not a Bubble
Ever since the stock market bottomed in 2009 during the financial crisis, people have been coming up with reasons why the bull market was about to end. We heard every reason Brexit, the end of Quantitative Easing, too much debt, COVID,...
Read MoreThe Return of Inflation
Inflation is not dead. It is not gone. It has not been tamed. We know it seems like it, especially after the past few decades which generated in many an “inflation-complacency” that feels justified. After all, following the...
Read MoreAOC and Ted Cruz, Agree!
Yes, 2021 is starting off as crazy as 2020. They don’t agree on the Green New Deal, or Socialism, but Ted Cruz and AOC both agree that limiting investor access to markets is a mistake. In case you missed it, last week, Robinhood,...
Read MoreCan Massive Deficits Really Be Financed?
The budget deficit for fiscal year 2020, which ended 9/30/2020, was $3.1 trillion, the highest ever on record in dollar terms, and the highest relative to GDP since World War II. This year the deficit will be even larger. Before the...
Read MoreJanuary 11, 2021 - Markets Start 2021 on a High
The Week on Wall Street Shrugging off COVID-19 infections and the disruption at the Capitol on January 6, stocks powered higher to kick off a new year of trading.The Dow Jones Industrial Average gained 1.61%, while the Standard &...
Read MoreElections Have Tax Consequences
The seemingly endless election of 2020 is finally over, with Democrats winning both Senate seats in Georgia. As a result, President Biden will have slender majorities in the House and Senate. These slender majorities limit many...
Read MoreJanuary 4, 2021 - The Year in Review
The Week on Wall Street Stocks moved higher during a holiday-shortened week of trading, capping off a turbulent, but otherwise strong year for equity investors. The Dow Jones Industrial Average gained 1.35%, while the Standard &...
Read MoreKeeping Good State Policies
When it comes to attracting people, jobs, and businesses, some states are just better than others. While the total US population increased 6.5% from 2010 to 2020, it increased 17.1% in Utah, 16.3% in Texas, 16.3% in Idaho, 16.1% in...
Read MoreInflation, Debt, MMT, and Bitcoin
We can’t possibly exhaust our thoughts on all these topics in one Monday Morning Outlook, but we thought we’d give it the old college try. This year, 2020, has been exceptionally interesting for investors. Not only have...
Read MoreDecember 21, 2020 - Vaccine Rollout Spurs Markets
The Week on Wall Street Stocks climbed higher amid the COVID-19 vaccine rollout and an improving outlook for a fiscal stimulus bill.The Dow Jones Industrial Average, which has lagged all year, gained 0.44%. The Standard & Poor’s 500...
Read MoreDecember 14, 2020 - Cases Rise, Stocks Retreat
The Week on Wall Street Stocks retreated last week on rising COVID-19 infections and slow progress on an economic relief bill. The Dow Jones Industrial Average dipped 0.57%, while the Standard & Poor’s 500 dropped 0.96%. The Nasdaq...
Read MoreStimulus, Bailouts, and the Fed
Back room deals in Washington, DC always die and come back to life, over and over, again. And, even though a “COVID-shutdown rescue package” seems like a no brainer, it’s been caught up in politics for months....
Read MoreDecember 7, 2020 - Is Stimulus Near?
The Week on Wall Street Stocks marched higher last week on an improving outlook for the passage of a fiscal stimulus package. The Dow Jones Industrial Average rose 1.03%, while the Standard & Poor’s 500 tacked on 1.67%. The Nasdaq...
Read More2021: Robust Growth, Higher Inflation
The COVID-19 Recession is the weirdest we’ve ever had. There is no way anyone could have forecast it. It did not happen because the Fed was too tight. It did not happen because of a trade war. It was self-inflicted, caused by...
Read MoreNovember 30, 2020 - Dow Hits 30,000
The Week on Wall Street Stocks surged last week, ignited by another COVID-19 vaccine announcement, encouraging economic data, and the easing of political uncertainty.The Dow Jones Industrial Average rose 2.21%, while the Standard &...
Read MoreS&P 4,200 - Dow 35,000
In December 2019, we made a year-end 2020 forecast of 3,650 for the S&P 500. With the index closing Friday at 3,638, that looks like a very good call. But we’d be fibbing if we didn’t admit to getting whipsawed by COVID-19....
Read MoreNovember 23, 2020 - New Infections Increase Anxiety
The Week on Wall StreetDespite news of another COVID-19 vaccine candidate, stocks were mixed amid investor anxiety over an increase in new infections and economic lockdowns.The Dow Jones Industrial Average fell 0.73%, while the...
Read MoreMnuchin, Powell and the Georgia Elections
Who’s in charge of fiscal policy? That’s the real issue behind the recent dispute between Treasury Secretary Steve Mnuchin and Federal Reserve Chairman Jerome Powell regarding the Treasury’s decision to end certain...
Read MoreNovember 16, 2020 - Vaccine Triggers Rally
The Week on Wall Street News of a COVID-19 vaccine ignited a rally in economically sensitive stocks and a broad retreat in technology companies last week, though enthusiasm was tempered by reports of rising new infections and fresh...
Read MoreGiving Thanks, Double Dip Unlikely
Give Thanks! The US economy continues to heal. Payrolls keep growing, unemployment claims - though still elevated - are shrinking, key measures of the manufacturing and service sectors remain well into positive territory, and, as this...
Read MoreNovember 9, 2020 - Markets React to Election
The Week on Wall Street Stocks soared last week as investors anticipated that a split Congress would raise legislative hurdles to changing corporate taxes and adjusting regulatory oversight of big technology companies.The Dow Jones...
Read MoreNo Wave is Good News For Stocks
While the election is still not certified, and court battles will drag on, it appears that we can draw two firm conclusions from the 2020 election. First, the pollsters were horribly wrong again. Secondly, American voters do not want a...
Read MoreNovember 2, 2020 - No Stimulus, Stocks Lag
The Week on Wall Street Stock prices dropped last week as hopes for a fiscal stimulus bill faded and investors focused on rising COVID-19 infections, here and abroad. The Dow Jones Industrial Average slid 6.47%, while the Standard &...
Read MoreNo More Lockdowns
As the US opened up, real GDP rebounded sharply in the third quarter, growing at a 33.1% annual rate. However, real GDP is still down 2.9% from a year ago and the economy got a huge boost from spending by the federal government, which...
Read MoreOctober 26, 2020 - No Stimulus, Stocks Lower
The Week on Wall Street The failure to reach an agreement on a new fiscal stimulus bill soured investor sentiment and sent stocks modestly lower for the week. The Dow Jones Industrial Average fell 0.95%, while the Standard & Poor’s...
Read MoreEconomy Poised for More Growth
To reiterate, this Thursday morning we expect the government to report a huge, and virtually unprecedented, surge of a 33.4% annualized growth rate in real GDP growth for the third quarter. There are still a few monthly reports due...
Read MoreOctober 19, 2020 - A Difficult Week for Stocks
The Week on Wall Street Stocks treaded water last week amid fading prospects for a stimulus bill, fears of a second wave of COVID-19 cases, and increasing political and regulatory pressures on Big Tech companies.The Dow Jones...
Read MoreGDP Soars in Third Quarter
There is nothing normal about the 2020 recession. Massive nationwide shutdowns of “non-essential” businesses caused real GDP to drop at a 31.4% annual rate in the second quarter, the biggest drop since the 1930s. However,...
Read MoreOctober 12, 2020 - Stocks Rise, Stimulus Uncertain
The Week on Wall Street Stocks staged a powerful rally last week, riding a wave of optimism over the prospect of the passage of a new fiscal stimulus bill.The Dow Jones Industrial Average rose 3.27%, while the Standard & Poor’s 500...
Read MoreProfits Poised for Growth
COVID lockdowns crushed the economy in the first half of 2020, with real GDP down 5.0% at an annual rate in the first quarter and 31.4% at annual rate in the second quarter, the latter of which was the steepest drop in real GDP for any...
Read MoreOctober 5, 2020 - Special Update: Quarterly Report
The Week on Wall Street Stocks advanced last week, propelled by hopes that legislators may reach an agreement for a new fiscal stimulus package and optimism generated by a few corporate deal announcements and initial public offerings....
Read MoreSeptember 28, 2020 - Stocks Mixed Amid Uncertainty
The Week on Wall Street Stocks were mixed last week as worries that stretched from Washington D.C., where prospects of a new fiscal stimulus bill dimmed, to Europe, which saw an increase of new COVID-19 cases.The Dow Jones Industrial...
Read MoreSeptember 21, 2020 - Tech Sector Slip Continues
The Week on Wall Street Stocks slipped as the technology sector remained under pressure and a mid-week announcement by the Federal Reserve failed to inspire investors.The Dow Jones Industrial Average declined 0.03%, while the Standard...
Read MoreSeptember 14, 2020 - Stocks Continue Downward Slide
The Week on Wall Street Stocks traveled a volatile path last week as investors appeared concerned about the upcoming elections, an uncertain economy, and more delays with additional fiscal stimulus. The Dow Jones Industrial Average...
Read MoreSeptember 8, 2020 - Stocks Stall as Recovery Continues
The Week on Wall Street A late week sell-off sent stocks broadly lower as investors took some profits after stocks reached all-time highs earlier in the week. The Dow Jones Industrial Average slid 1.82%, while the Standard & Poor’s...
Read MoreAugust 31, 2020 - Stocks Power Higher
The Week on Wall Street Stocks advanced relentlessly last week on positive COVID-19 developments, encouraging economic data, and a supportive policy shift in the Fed’s approach to its target inflation rate. The Dow Jones Industrial...
Read MoreAugust 24, 2020 - Stocks Reach New Highs
The Week on Wall Street Stocks powered to another week of gains as the S&P 500 and Nasdaq Composite set multiple new record highs along the way.The Dow Jones Industrial Average was essentially unchanged while the Standard & Poor’s 500...
Read MoreAugust 17, 2020 - Stocks and Consumer Prices Rise
The Week on Wall StreetStock prices drifted higher in an otherwise quiet news week, as a slowdown in new COVID-19 cases outweighed a Congressional impasse on a new fiscal-spending measure. The Dow Jones Industrial Average gained 1.81%...
Read MoreAugust 10, 2020 - Earnings Season Winds Down
The Week on Wall StreetOverlooking stalled efforts by Congress to pass a new fiscal stimulus bill, stocks marched higher last week with the Dow Jones Industrials leading the way and the NASDAQ Composite setting multiple fresh record...
Read MoreAugust 3, 2020 - Stocks Have Mixed Reaction
The Week on Wall Street Stocks were mixed last week amid a busy week of earnings, some troubling economic data, and seemingly little progress on a new fiscal stimulus package.The Dow Jones Industrial Average slipped 0.16%, while the...
Read MoreJuly 27, 2020 - Stocks React to Jobs Report
The Week on Wall Street Stocks slipped in the final days of trading last week on higher jobless claims and rising tensions in the U.S.-China relationship. The Dow Jones Industrial Average lost 0.76%, while the Standard & Poor's 500...
Read MoreJuly 20, 2020 - Stocks See a Mixed Week
The Week on Wall StreetStocks were mixed last week as investors reacted to positive economic data, progress on a COVID-19 vaccine, and the continued nationwide increase in COVID-19 cases. The Dow Jones Industrial Average gained 2.29%,...
Read MoreJuly 13, 2020 - Stocks Gain After Volatile Week
The Week on Wall StreetStock prices notched solid gains last week, looking past an increase in COVID-19 cases and any potential economic concerns raised by the trend. The Dow Jones Industrial Average increased by 0.96%, while the...
Read MoreJuly 6, 2020 - Special Update: Quarterly Report
The Week on Wall StreetIn a holiday-shortened week, stock prices turned higher as encouraging economic data outweighed an increase in COVID-19 cases and a rollback in economic re-openings.The Dow Jones Industrial Average rose 3.25%,...
Read MoreJune 29, 2020 - Rise in Cases Inspires Turbulence
The Week on Wall StreetA jump in COVID-19 cases dampened investor enthusiasm last week, sending stock prices lower on worries that rising infections could derail the economic recovery. The Dow Jones Industrial Average slumped 3.31%,...
Read MoreJune 22, 2020 - U.S. Economy Gains Momentum
The Week on Wall StreetStocks moved higher last week on news of more Federal Reserve market support and diminished concerns that new COVID-19 cases might lead to another economic shutdown. The Dow Jones Industrial Average rose 1.04%,...
Read MoreJune 15, 2020 - Markets React to Fed Report
The Week on Wall StreetInvestor sentiment turned negative last week, amid an increasing number of COVID-19 cases in states where reopening has been underway as well as a subdued economic forecast from the Federal Reserve. The Dow Jones...
Read MoreJune 8, 2020 - Recovery Optimism Builds
The Week on Wall StreetA positive jobs report sent stocks soaring last Friday, capping a solid week as evidence of a global economic recovery outweighed concerns over civil unrest and tensions with China.The Dow Jones Industrial...
Read MoreJune 1, 2020 - Optimism for Re-Opening
The Week on Wall StreetThe shortened week, which began with a powerful two-day rally of trading, was enough to drive the markets into another week of solid gains. The Dow Jones Industrial Average rose 3.75%, while the Standard &...
Read MoreMay 26, 2020 - Markets React to Positive Outlook
The Week on Wall StreetUpbeat comments by the Federal Reserve Chairman and more signs of an economic turnaround combined to help fuel a powerful rally in the stock market last week.The Dow Jones Industrial Average rose 3.29%, while...
Read MoreMay 18, 2020 - Powell Somber on Recovery
The Week on Wall StreetStocks drifted lower last week, weighed down by Federal Reserve Chairman Jerome Powell's unsettling comments on the economy and signs of renewed tensions with China.The Dow Jones Industrial Average fell 2.65%,...
Read MoreMay 11, 2020 - Jobs Down, Stocks Up
The Week on Wall StreetDespite a historic downturn in employment, stocks managed to climb higher last week as investors were emboldened by the pace of economic re-openings, both here and abroad.The Dow Jones Industrial Average gained 2...
Read MoreMay 4, 2020 - Economic Normalization Near?
The Week on Wall StreetStock prices ended the week slightly lower, despite news of positive results from a test trial of a COVID-19 drug treatment and several states easing their economic lockdowns. The Dow Jones Industrial Average...
Read MoreApril 27, 2020 - Markets React to Oil Prices
The Week on Wall StreetStock prices bounced around last week as investors reacted to wild swings in the price of oil and reports that called into question the efficacy of two potential virus treatments.The Dow Jones Industrial Average...
Read MoreApril 20, 2020 - First Post-COVID-19 Data Arrives
The Week on Wall StreetStock prices pushed higher last week as news of a White House plan to reopen the economy and reports of a potential COVID-19 treatment helped the market overcome weak economic data and an ugly start to the...
Read MoreApril 13, 2020 - Markets Rally
The Week on Wall StreetThe stock market staged a broad rally this week, buoyed by the prospect that COVID-19's grip on the nation may be easing and news of another Federal Reserve program to help stabilize businesses.The Dow Jones...
Read MoreApril 6, 2020 - Special Update: Quarterly Report
The Week on Wall StreetModest declines in stock prices this week masked the volatile inter- and intraday price swings as investors digested poor economic data and a warning from the president that the worst days of the COVID-19...
Read MoreMarch 30, 2020 - Congress Approves Stimulus
An open-ended commitment by the Federal Reserve to support American businesses and capital markets along with the passage of a $2 trillion aid package improved investor sentiment and drove a strong rally in stock prices. The Dow Jones...
Read MoreMarch 23, 2020 - More Coronavirus Volatility
The Week on Wall StreetThe stock market suffered through another volatile week as it wrestled with the health and economic fallout of the domestic spread of the coronavirus. Swift and decisive actions by the Federal Reserve and policy...
Read MoreMarch 16, 2020 - Volatility Continues
The Week on Wall StreetMarkets remained exceptionally volatile, buffeted by the spreading impact of coronavirus, uncertain responses from federal policymakers, and the sudden drop in oil prices.The Dow Jones Industrial Average fell 10...
Read MoreMarch 9, 2020 - Rallies and Retreats
The Week on Wall StreetHeightened coronavirus fears, falling yields, and Super Tuesday primary results sent stocks on a rollercoaster ride of sharp price swings, leaving stocks marginally higher for the week.The Dow Jones Industrial...
Read MoreMarch 2, 2020 - The Virus Becomes the Focus
The Week on Wall StreetStocks fell sharply last week as Wall Street considered how the coronavirus outbreak might influence global business activity and household spending.The selloff became a correction for the U.S. markets. The S&P...
Read MoreFebruary 24, 2020 - Virus Anxieties Affect Stocks
The Week on Wall StreetTraders paid close attention to coronavirus developments and earnings last week, while wondering how the former might eventually impact the latter. Concern over updated infection numbers moderated risk appetite.A...
Read MoreFebruary 18, 2020 - Weekly Gains for Big Benchmarks
The Week on Wall StreetDaily headlines about the coronavirus had little impact on stock market averages last week. Earnings and mergers had more influence. All three Wall Street benchmarks improved. The Nasdaq Composite rose 2.21%,...
Read MoreFebruary 10, 2020 - Stocks Bounce Back
The Week on Wall StreetStocks advanced four days out of five during the past market week, erasing the losses of the week before. The Nasdaq Composite surged 4.04%, the S&P 500 3.17%, and the Dow Jones Industrial Average 3.00%. Foreign...
Read MoreFebruary 3, 2020 - Equities Slip on Virus Concerns
The Week on Wall StreetStock benchmarks declined for a second straight week as coronavirus news tempered risk appetite.The S&P 500 fell 2.14% on the week. The Nasdaq Composite dipped 1.76%, and the Dow Jones Industrial Average, 2.55%....
Read MoreJanuary 27, 2020 - Stocks End the Week Lower
The Week on Wall StreetStock prices fell last week as investors considered the potential health and economic risks of the flu-like coronavirus.Foreign stock markets, as tracked by the broad MSCI EAFE index, fell 1.03% for the week....
Read MoreJanuary 21, 2020 - Fresh Record Highs
The Week on Wall StreetTraders were in an upbeat mood last week, reacting to news out of Washington: the signing of the phase-one trade deal between the U.S. and China as well as the Senate passage of the U.S.-Mexico-Canada Agreement...
Read MoreJanuary 13, 2020 - Further Gains for Stocks
The Week on Wall StreetThe market had a choppy five days, with traders reacting to geopolitical developments and weaker-than-expected jobs data. Even so, the three major U.S. equity indices posted weekly gains and continued their...
Read MoreJanuary 13, 2020 - Further Gains for Stocks
The Week on Wall StreetThe market had a choppy five days, with traders reacting to geopolitical developments and weaker-than-expected jobs data. Even so, the three major U.S. equity indices posted weekly gains and continued their...
Read MoreJanuary 13, 2020 - Further Gains for Stocks
The Week on Wall StreetThe market had a choppy five days, with traders reacting to geopolitical developments and weaker-than-expected jobs data. Even so, the three major U.S. equity indices posted weekly gains and continued their...
Read MoreJanuary 6, 2020 - Concerns About Oil
The Week on Wall Street Stocks descended from record highs Friday, as traders reacted to a U.S. drone strike that killed Iran's top military officer. Oil prices rose more than 3% following the breaking news.[1] Wall Street benchmarks...
Read MoreDecember 30, 2019 - The Year in Review
What Drove the Markets? Four factors influenced investment performance in 2019: a shift in U.S. monetary policy, the ongoing trade dispute between the U.S. and China, earnings, and the economy. Stocks reached record highs in 2019. The...
Read MoreDecember 16, 2019 - Phase-One Trade Deal Reached
The Week on Wall Street The U.S. and China announced a limited trade agreement last week. That news lifted U.S. and foreign stocks, leading to weekly gains. Advancing 0.91% on the week, the Nasdaq Composite outperformed the S&P 500...
Read MoreDecember 9, 2019 - Stocks Ride Out a Choppy Week
The Week on Wall Street Key Wall Street benchmarks were up and down last week – or rather down and then up. A Tuesday retreat was offset by a Friday rally spurred by the Department of Labor’s November jobs report. While the S&P 500...
Read MoreDecember 2, 2019 - November Concludes With Gains
The Week on Wall Street As November wrapped up, U.S. equity benchmarks advanced. Stocks were again aided by a sense of optimism that a preliminary U.S.-China trade deal could be near. For the week, the Nasdaq Composite added 1.87%;...
Read MoreNovember 25, 2019 - Major Indices Move Lower
The Week on Wall Street Stocks declined last week as mixed signals emerged about the progress of U.S.-China trade negotiations. The three major Wall Street benchmarks all took weekly losses. The Dow Jones Industrial Average declined 0...
Read MoreNovember 18, 2019 - A New Dow Milestone
The Week on Wall StreetStock benchmarks were little changed for much of last week, but a rally occurred Friday after news broke that the U.S. and China could be closing in on the first phase of a new trade pact. At Friday's close, the...
Read MoreNovember 11, 2019 - Dow, S&P 500 Extend Win Streaks
The Week on Wall Street Domestic and international stocks rose last week. Risk appetite outweighed concerns about the state of U.S.-China trade discussions. The Dow Jones Industrial Average, Nasdaq Composite, S&P 500, and MSCI EAFE...
Read MoreNovember 4, 2019 - More Historic Highs
The Week on Wall Street A better-than-forecast jobs report prompted a stock market rally Friday, two days after traders witnessed another interest rate cut by the Federal Reserve. Both the S&P 500 and Nasdaq Composite ended the week...
Read MoreOctober 28, 2019 - S&P 500 Nearly Makes History
The Week on Wall Street The S&P 500 came within 0.1% of a record close Friday. Stocks were lifted last week by positive news on U.S.-China trade negotiations, plus earnings announcements. The Nasdaq Composite posted the largest weekly...
Read MoreOctober 21, 2019 - Nasdaq Composite, S&P 500 Rise
The Week on Wall Street Earnings helped give the Nasdaq Composite and S&P 500 a slight lift last week, offsetting investor disappointment over the small scope of the preliminary U.S.-China trade deal reached on October 11. Blue chips...
Read MoreOctober 14, 2019 - Trade Winds Move the Market
The Week on Wall Street Stock prices pushed higher last week, as investors remained hyper-focused on any new developments with the U.S. trade negotiations with China. The Dow Jones Industrial Average picked up 0.91%, while the...
Read MoreOctober 7, 2019 - Special Update: Quarterly Report
The Week on Wall Street The fourth quarter started with a mixed week for equities. The Dow Jones Industrial Average lost 0.92% for the week; the S&P 500, 0.33%. In contrast, the Nasdaq Composite improved 0.54%. Overseas stocks pulled...
Read MoreSeptember 30, 2019 - Benchmarks End Week Lower
The Week on Wall Street Stocks retreated last week. Traders worried that the formal impeachment inquiry of President Donald Trump might distract White House officials from their pursuit of a trade deal with China, and shift the focus...
Read MoreSeptember 23, 2019 - Stocks Stage a Modest Retreat
The Week on Wall Street Investors reacted to two major news items last week, one far more of a surprise than the other. The Federal Reserve did indeed make a rate cut, matching Wall Street expectations. Drone strikes on two of the...
Read MoreSeptember 16, 2019 - Dow Logs 8-Day Win Streak
The Week on Wall Street Stocks edged toward all-time peaks during a relatively calm week marked by easing trade tensions. Friday marked the eighth straight daily advance for the Dow Jones Industrial Average.[1] Small-cap shares, as...
Read MoreSeptember 9, 2019 - Dow, Nasdaq, S&P 500 Advance
The Week on Wall Street Stocks rose last week, with help from two developments: the announcement of further U.S.-China trade talks as well as August hiring and manufacturing numbers that seemed to bolster the argument for a rate cut...
Read MoreSeptember 3, 2019 - Stocks Rally as August Ends
The Week on Wall Street Fears of an impasse in the U.S.-China trade dispute lessened last week. While additional U.S. tariffs on Chinese imports were scheduled to take effect on September 1, China's government communicated that it...
Read MoreAugust 26, 2019 - China Announces More Tariffs
The Week on Wall Street Traders assumed that the week's biggest news event would be Federal Reserve Chairman Jerome Powell's speech at the annual Jackson Hole banking conference. Instead, China seized the headlines by announcing new...
Read MoreAugust 19, 2019 - Equities Face Some Volatility
The Week on Wall Street U.S. stock indices saw significant ups and downs last week, with traders looking for economic cues from Treasury yields and also developments in the tariff fight between the U.S. and China. The S&P 500 lost 1...
Read MoreAugust 12, 2019 - Trade Tensions Affect Stocks
The Week on Wall Street Stocks spent much of last week rebounding from a Monday drop that reflected nervousness about the U.S.-China trade fight. By Thursday's closing bell, the S&P 500 had regained all its Monday losses - but it...
Read MoreAugust 5, 2019 - Fed Cuts Rates, Stocks Retreat
The Week on Wall Street Last week, the Federal Reserve cut interest rates for the first time in more than a decade, in line with Wall Street's expectations. Ironically, stocks had their worst week of 2019. The S&P 500 finished the...
Read MoreJuly 29, 2019 - S&P & Nasdaq Outgain Dow
The Week on Wall Street Last week, investors assessed earnings and the initial estimate of second-quarter economic growth, while awaiting the Federal Reserve's next announcement about interest rates. Stocks rose for the week;...
Read MoreJuly 22, 2019 - Stocks Descend from Recent Peaks
The Week on Wall Street Stock benchmarks retreated during the first week of the second-quarter earnings season. As some big names shared quarterly results, investors seemed more interested in what might happen at the Federal Reserve's...
Read MoreJuly 15, 2019 - S&P 500 Tops 3,000
The Week on Wall Street Friday, the S&P 500 settled above 3,000 for the first time, after rising 0.78% for the week. The Dow Jones Industrial Average chalked up a milestone of its own: the blue chips ended the week above 27,000,...
Read MoreJuly 8, 2019 - Special Update: Quarterly Report
The Week on Wall Street U.S. stock benchmarks opened a new quarter positively. The S&P 500 gained 1.65% in the opening week of July; the Dow Jones Industrial Average, 1.21%; the Nasdaq Composite, 1.94%. Overseas, stocks in developed...
Read MoreJuly 1, 2019 - Down Week Ends Strong Month
The Week on Wall Street A month of gains for stocks ended with a weekly retreat. The S&P 500 lost 0.30%; the Nasdaq Composite, 0.32%; the Dow Jones Industrial Average, 0.45%. In contrast, overseas shares, tracked by the MSCI EAFE...
Read MoreJune 24, 2019 - Stocks Touch Record Highs
The Week on Wall Street The S&P 500 hit an all-time peak of 2,964.03, in intraday trading Friday, while improving 2.20% across five market days. The Dow Jones Industrial Average and Nasdaq Composite posted respective, 5-day advances...
Read MoreJune 17, 2019 - Further June Gains
The Week on Wall Street Stocks advanced for a second straight week. The S&P 500 benchmark rose 0.47%; the Nasdaq Composite, 0.70%; the Dow Jones Industrial Average, 0.41%. Overseas shares, as tracked by the MSCI EAFE developed markets...
Read MoreJune 10, 2019 - Big Gains for the Major Indices
The Week on Wall Street Stocks rallied during a week in which Wall Street was buffeted by headlines. The S&P 500 rose 4.41%. The Nasdaq Composite and Dow Jones Industrial Average respectively added 3.88% and 4.71%. The MSCI EAFE index...
Read MoreJune 3, 2019 - May Ends with a Retreat
The Week on Wall Street Stocks struggled during a 4-day market week as the U.S.-China trade standoff continued to weigh on the minds of market participants. From the Friday, May 24 close to the Friday, May 31 close, the S&P 500...
Read MoreMay 28, 2019 - Trade Tensions Linger
The Week on Wall StreetStocks drifted lower last week as investors considered the possibility that the world's two largest economies might take some time to resolve key trade issues. The S&P 500 retreated 1.17%; the Nasdaq Composite,...
Read MoreMay 20, 2019 - Trade News Moves the Market
The Week on Wall Street Stocks fell sharply at the start of last week over trade tensions, then recovered with help from strong earnings and indications that U.S.-China trade talks would continue. Even so, the major indices had a down...
Read MoreMay 13, 2019 - Higher Tariffs Take Effect
The Week on Wall Street As we noted recently, Wall Street has a wandering eye. Last week, it focused on the new tariff threats in the ongoing U.S.-China trade dispute. Stocks fell across five trading sessions: the Dow Jones Industrial...
Read MoreMay 6, 2019 - Major Indices Have a Mixed Week
The Week on Wall Street Stocks were up and down last week, and the three major benchmarks ended up little changed after five trading days. The S&P 500 rose 0.20% for the week; the Nasdaq Composite, 0.22%. The Dow Jones Industrial...
Read MoreApril 29, 2019 - S&P 500 Reaches a New Peak
The Week on Wall Street Stocks returned to record territory, with both the S&P 500 and the Nasdaq Composite closing at historic highs. The S&P gained 1.20% for the week; the Nasdaq, 1.85%. The Dow Jones Industrial Average lagged,...
Read MoreApril 22, 2019 - A Mild Week for the Market
The Week on Wall Street A short and relatively placid trading week wrapped up Thursday, with the major indices turning in mixed performances. The S&P 500 retreated 0.08%, the Nasdaq Composite advanced 0.17%, and the Dow Jones...
Read MoreApril 15, 2019 - The Q1 Earnings Season Begins
The Week on Wall Street Stocks broke out of a narrow range on Friday following news that two major banks grew their bottom line in the first quarter. For the week, the S&P 500 rose 0.79%; the Nasdaq Composite, 0.91%. The Dow Jones...
Read MoreApril 8, 2019 - Special Update: Quarterly Report
The Week on Wall Street Stocks just posted their second straight weekly gain. Investors were encouraged by the latest jobs report and new signs of progress on a U.S.-China trade deal. The Dow Jones Industrial Average advanced 1.17% in...
Read MoreApril 1, 2019 - Gains Conclude a Great Quarter
The Week on Wall Street Stocks ended last week higher as volatility slowed, completing their best quarter since 2009. A Friday tweet from Treasury Secretary Steven Mnuchin encouraged investors, referring to "constructive" discussions...
Read MoreMarch 25, 2019 - Treasury Yields Prompt Concerns
The Week on Wall Street Friday, the yield of the 3-month Treasury bill exceeded the yield of the 10-year Treasury note for the first time in 12 years. For some analysts, this "inverted yield curve" may imply a short-term lessening of...
Read MoreMarch 18, 2019 - Dow, S&P, Nasdaq All Rise
The Week on Wall Street The big story last week was the sudden grounding of Boeing 737 Max 8 and 9 passenger jets in dozens of countries. The financial effects of this ban could potentially impact the airline industry and segments of...
Read MoreMarch 11, 2019 - Stocks Dip on Growth Concerns
The Week on Wall Street As in February, investors spent most of the first full trading week of March hoping for new details in U.S.-China trade negotiations. While they waited, stock benchmarks drifted downward. From Monday's open to...
Read MoreMarch 4, 2019 - S&P Ends Week Little Changed
The Week on Wall Street Stocks lost a little ground as February gave way to March. While domestic and overseas political developments made headlines, the market stayed relatively calm: from Monday's open through Friday's close, the...
Read MoreFebruary 25, 2019 - Optimism Spurs a Broad Rally
The Week on Wall Street Stocks rallied last week as optimism about a potential U.S.-China trade deal grew. The S&P 500 advanced 0.80% during the 4-day trading week to 2,792.67. The Nasdaq Composite improved 0.86% to 7,527.54, and the...
Read MoreFebruary 19, 2019 - Dow, S&P, Nasdaq Climb Higher
The Week on Wall Street Stocks ended a good week on a high note, as hints of progress in U.S.-China trade talks encouraged investors. When the closing bell rang Friday, the S&P 500 settled at 2,775.60, after rising 2.50% in five days....
Read MoreFebruary 11, 2019 - Stocks Post Small Weekly Gains
The Week on Wall Street Major U.S. stock benchmarks eked out slight gains last week, with corporate profit reports and news about U.S.-China trade negotiations vying for investor attention over five trading sessions. The big three...
Read MoreFebruary 4, 2019 - Markets Gain Again
Last week closed out one of stocks' top January performances in years. In fact, both the S&P 500 and Dow posted their best January results in at least 3 decades.[1] For the week, major domestic indexes were also up. The S&P 500 gained...
Read MoreJanuary 29, 2019 - Stocks Muted, Big Week Ahead
For the first time in months, U.S. markets experienced little movement last week.[1] The Dow and NASDAQ did have their 5th week of gains in a row, but their increases were small: 0.12% and 0.11%, respectively. Meanwhile, the S&P 500...
Read MoreJanuary 22, 2019 - The Rally Continues
U.S. markets were up again last week, as major domestic indexes posted their 4th weekly gains in a row.[1] In fact, the S&P 500 was no longer in correction territory at Friday's close - and was in the middle of its best yearly start...
Read MoreJanuary 14, 2019 - Markets Relax and Rally
After months of volatility, markets relaxed a bit last week. For the first time since October, the S&P 500 went 5 days without a 1% gain or loss.[1] The Cboe Volatility Index, or VIX, also fell to lower than 20 - in December, it...
Read MoreJanuary 7, 2019 - Markets Up - And Volatile
U.S. markets experienced more wild sessions last week before ending in positive territory as the recent turbulence continued. In fact, we are currently in the middle of some of the most volatile market performance in more than eight...
Read MoreDecember 31, 2018 - Year-End Special Edition: A Look Back at 2018
The close of the year provides an opportunity for investors to step back and consider the wider financial landscape. This week, we're reviewing some key issues that defined 2018, as well as some factors that may influence financial...
Read MoreDecember 24, 2018 - Turbulence Continues
Last week, domestic markets had some of their worst performance in 10 years.[1] The S&P 500 lost 7.05%, the Dow declined 6.87%, and the NASDAQ dropped 8.36%. All three indexes have now lost at least 8% in 2018.[2] On Friday, December...
Read MoreDecember 17, 2018 - Stocks Down, Change Ahead?
Last week brought more volatility to the markets. While domestic indexes had some rallies as positive trade news emerged earlier in the week, by Friday, December 14, they had erased any gains. The last time major U.S. indexes ended in...
Read MoreDecember 10, 2018 - Volatility Continues
Markets went for another wild ride last week, as major domestic indexes swung back and forth. By Friday, December 7, markets had posted their worst weekly performance since March - and the S&P 500 and Dow both moved into negative...
Read MoreDecember 3, 2018 - Markets Rebound
U.S. markets ended a volatile month on a high note Friday. All three major indices posted impressive increases for the week, buoyed by news from the Fed Reserve and international trade.[1] The S&P 500 jumped 4.85%, and the NASDAQ...
Read MoreNovember 26, 2018 - Why Did Stocks Drop?
Last week was a tough one for markets. The S&P 500 dropped 3.79% and experienced its worst results during a Thanksgiving week since 1939.[1] While the index officially entered correction territory on Friday, it closed 10.2% below its...
Read MoreNovember 19, 2018 - Analyzing Data Amid Declines
Markets experienced more volatility last week, as perspectives on trade, tech, and retail pulled investor sentiment back and forth. Although domestic indexes were up on Friday, November 16, they still posted losses for the week.[1] In...
Read MoreNovember 12, 2018 - The Impact of Oil and Elections
Last week, markets experienced a 4-day winning streak before dropping on Friday, November 9. Despite those losses, domestic indexes posted gains for the week.[1] The S&P 500 increased 2.13%, the Dow added 2.84%, and the NASDAQ was up 0...
Read MoreNovember 5, 2018 - Markets Bounce Back
Markets posted strong gains last week after struggling for much of October. The S&P 500 had its best weekly performance since May, and the NASDAQ had its first positive week since September.[1] Despite domestic markets dropping on...
Read MoreOctober 29, 2018 - Why Did Stocks Drop?
Last week did nothing to dispel October's reputation as a tough month for the markets. The S&P 500 lost 3.94%, the Dow declined 2.97%, and the NASDAQ dropped 3.78% during what was one of 2018's most volatile weeks so far. All three...
Read MoreOctober 22, 2018 - Examining October
Stock performance was mixed last week as investors considered the impact of interest rates, international affairs and corporate earnings.[1] The S&P 500 gained 0.02%, and the Dow added 0.41% to post its first weekly gains in October....
Read MoreOctober 15, 2018 - Stocks Take a Ride
Volatility was back in full force last week. The three major domestic indexes posted several days of losses before experiencing wide swings on Friday. By week's end, the Cboe Volatility Index (VIX), which investors use to help measure...
Read MoreOctober 8, 2018 - Examining Economies
Although new data continued to show strength in the U.S. economy, markets stumbled across the globe last week.[1] The S&P 500 lost 0.98%, the Dow dropped 0.04%, and the NASDAQ declined 3.21%.[2] International stocks in the MSCI EAFE...
Read MoreOctober 1, 2018 - Special Update: Quarterly Report
Friday, September 28, was the last trading day in 2018's 3rd quarter, and the S&P 500 posted its strongest quarterly return in nearly 5 years.[1] The Dow also showed impressive returns by beating expectations for the quarter, while...
Read MoreSeptember 24, 2018 - New Records and Changes
Last week brought new tariffs and data, and another look at changes coming to equity classifications. Overall, the S&P 500 gained 0.85% and the Dow was up 2.25%, while the NASDAQ dropped 0.29%.[1] International stocks in the MSCI EAFE...
Read MoreSeptember 24, 2018 - New Records and Changes
Last week brought new tariffs and data, and another look at changes coming to equity classifications. Overall, the S&P 500 gained 0.85% and the Dow was up 2.25%, while the NASDAQ dropped 0.29%.[1] International stocks in the MSCI EAFE...
Read MoreSeptember 17, 2018 - Stocks Up as Milestone Passes
Last week, the East Coast prepared for Hurricane Florence, which roared through the Carolinas and Georgia. As investors kept their eyes on the weather and its potential for destruction, estimates emerged of up to $27 billion in...
Read MoreSeptember 17, 2018 - Stocks Up as Milestone Passes
Last week, the East Coast prepared for Hurricane Florence, which roared through the Carolinas and Georgia. As investors kept their eyes on the weather and its potential for destruction, estimates emerged of up to $27 billion in...
Read MoreSeptember 10, 2018 - A Shaky Start to September
Domestic markets fell last week due to negative trade news and declining tech stocks, with the S&P 500 and Dow both breaking their multi-week winning streaks. Meanwhile, the NASDAQ posted losses for 4 days in a row for the first time...
Read MoreSeptember 10, 2018 - A Shaky Start to September
Domestic markets fell last week due to negative trade news and declining tech stocks, with the S&P 500 and Dow both breaking their multi-week winning streaks. Meanwhile, the NASDAQ posted losses for 4 days in a row for the first time...
Read MoreSeptember 4, 2018 - Markets Up Again
Trade continued to dominate the news last week and cause market volatility as investors monitored discussions of the North American Free Trade Agreement (NAFTA) and tension with China. While Mexico and the U.S. reached a new trade...
Read MoreSeptember 4, 2018 - Markets Up Again
Trade continued to dominate the news last week and cause market volatility as investors monitored discussions of the North American Free Trade Agreement (NAFTA) and tension with China. While Mexico and the U.S. reached a new trade...
Read MoreAugust 27, 2018 - The Bull Market Continues
Last week marked a noteworthy milestone in our economy: On Wednesday, August 22, the bull market entered its 3,453rd day, the longest such run in U.S. history. In the past 9 plus years, domestic indexes have come quite a ways since...
Read MoreAugust 27, 2018 - The Bull Market Continues
Last week marked a noteworthy milestone in our economy: On Wednesday, August 22, the bull market entered its 3,453rd day, the longest such run in U.S. history. In the past 9 plus years, domestic indexes have come quite a ways since...
Read MoreAugust 27, 2018 - The Bull Market Continues
Last week marked a noteworthy milestone in our economy: On Wednesday, August 22, the bull market entered its 3,453rd day, the longest such run in U.S. history. In the past 9 plus years, domestic indexes have come quite a ways since...
Read MoreAugust 20, 2018 - Trade & Turkey Drive Markets
Challenges in emerging markets affected both U.S. and global stock performance last week, with the S&P 500 experiencing several down days.[1] By market close on Friday, however, two of the three major domestics posted gains for the...
Read MoreAugust 20, 2018 - Trade & Turkey Drive Markets
Challenges in emerging markets affected both U.S. and global stock performance last week, with the S&P 500 experiencing several down days.[1] By market close on Friday, however, two of the three major domestics posted gains for the...
Read MoreAugust 13, 2018 - Mixed Results as Turkey Stumbles
Stocks ended the week in mixed territory as trouble with Turkey's currency affected U.S. equity performance on Friday, August 10.[1] For the week, the S&P lost 0.25%, the Dow declined 0.59%, and the NASDAQ increased 0.35%.[2]...
Read MoreAugust 13, 2018 - Mixed Results as Turkey Stumbles
Stocks ended the week in mixed territory as trouble with Turkey's currency affected U.S. equity performance on Friday, August 10.[1] For the week, the S&P lost 0.25%, the Dow declined 0.59%, and the NASDAQ increased 0.35%.[2]...
Read MoreAugust 6, 2018 - Stocks Up as Data Comes In
Domestic markets ended last week in positive territory, as the S&P gained 0.76%, the Dow was up 0.05%, and the NASDAQ increased 0.96%.[1] This performance marked the 5th week in a row that the S&P 500 and Dow posted gains.[2]...
Read MoreAugust 6, 2018 - Stocks Up as Data Comes In
Domestic markets ended last week in positive territory, as the S&P gained 0.76%, the Dow was up 0.05%, and the NASDAQ increased 0.96%.[1] This performance marked the 5th week in a row that the S&P 500 and Dow posted gains.[2]...
Read MoreJuly 30, 2018 - Examining Economic Growth
Markets experienced a push-and-pull last week between data indicating strong economic growth and lagging performance from several tech stocks' earnings reports.[1] Domestic indexes had mixed results, as the S&P 500 gained 0.61%, the...
Read MoreJuly 23, 2018 - Earnings Season Continues
On Friday, July 20, stocks lost a small amount of ground after President Trump escalated his threats of increasing tariffs on China. However, strong quarterly earnings reports from several large companies helped provide balance in the...
Read MoreJuly 16, 2018 - Special Report: Quarterly Update
Last week, trade tensions with China lessened somewhat, while the 2nd quarter corporate earnings season started with mixed results. Against this backdrop, domestic stocks experienced sizable growth. By market's close on Friday, July...
Read MoreJuly 9, 2018 - Jobs Push Stocks Up
Domestic stocks only traded for 4 days last week, due to the Independence Day holiday. In that time, all 3 major domestic indexes posted positive results for the week. The S&P 500 added 1.52%, the Dow gained 0.76%, and the NASDAQ...
Read MoreJuly 2, 2018 - Trade and Tariffs Rattle Markets
International trade concerns continue to create uncertainty in markets around the world.[1] Despite the markets' slight rises on Friday, June 29, they recorded losses for the week.[2] The S&P 500 fell 1.33%, the Dow gave back 1.26%,...
Read MoreJune 25, 2018 - The Power of Corporate Earnings
Stocks stumbled across the globe last week as trade tensions continued to escalate. Despite rebounding somewhat on Friday, the S&P 500 experienced its first weekly loss in a month, and the Dow posted its worst week since March.[1] The...
Read MoreJune 18, 2018 - Trade and Interest Rates
Last week stocks showed mixed results as political headlines continued to dominate the news. The Dow lost 0.89% and the S&P 500 was almost flat with a 0.02% gain.[1] The NASDAQ, on the other hand, reached a record high on Thursday and...
Read MoreJune 11, 2018 - Strength, Growth, and Tension
As last week ended, tension between the U.S. and some of its greatest allies was on the rise. Trade remained a hot-button topic ahead of the G-7 meeting in Canada, but investors seemed largely unfazed by the drama.[1] In fact, all 3...
Read MoreJune 4, 2018 - Jobs Report Calms Volatility
Markets experienced heightened volatility this week, with the S&P 500 rising 0.49% and Dow dropping 0.48%. Meanwhile, the NASDAQ rose 1.62%, as international markets took a small dip, with the MSCI EAFE losing 1.10%.[1,2] The markets'...
Read MoreMay 29, 2018 - Stocks Up, Signals Mixed
Geopolitical uncertainty affected stocks last week, as the historic summit between the U.S. and North Korea began to look less likely. On Thursday, May 24, President Trump announced that the summit was off, and stocks stumbled in...
Read MoreMay 21, 2018 - Tackling Trade & Treasuries
Major domestic indexes went down last week after all three gained more than 2% the previous week.[1] The S&P 500 dropped 0.54%, the Dow gave back 0.47%, and the NASDAQ lost 0.66%.[2] International stocks also stumbled; the MSCI EAFE...
Read MoreMay 14, 2018 - Markets Post Week of Growth
On Friday, the markets closed the week gaining traction. The Dow had 7 days of consecutive growth, rising 2.34% - its largest weekly gain since March.[1] Meanwhile, the S&P 500 rose 2.41%, the NASDAQ jumped 2.68%, and the MSCI EAFE...
Read MoreMay 7, 2018 - Examining Employment
Domestic indexes posted strong results on Friday, May 4, as the latest labor report data lessened investors' concerns about inflation and interest rates. Nonetheless, stocks had mixed results last week.[1] The S&P 500 dropped 0.24%...
Read MoreApril 30, 2018 - Earnings Rise, Stocks Stumble
We just finished the busiest week of 1st quarter earnings season, and although many companies shared positive results, stock indexes experienced modest declines.[1] The S&P 500 lost 0.01%, the Dow dropped 0.62%, and the NASDAQ gave...
Read MoreApril 23, 2018 - Examining Earnings & Yields
Stocks posted moderate gains last week, as the S&P 500 added 0.52%, the Dow increased 0.42%, and the NASDAQ rose 0.56%.[1] International stocks in the MSCI EAFE followed suit, gaining 0.41%.[2] We received numerous new data updates...
Read MoreApril 16, 2018 - Earnings Season Begins
Market volatility continues. Stocks slid on Friday, April 13, but still held on to gains for the week.[1] The S&P 500 increased 1.99%, the Dow added 1.79%, and the NASDAQ was up 2.77%.[2] International stocks in the MSCI EAFE also...
Read MoreApril 16, 2018 - Earnings Season Begins
Market volatility continues. Stocks slid on Friday, April 13, but still held on to gains for the week.[1] The S&P 500 increased 1.99%, the Dow added 1.79%, and the NASDAQ was up 2.77%.[2] International stocks in the MSCI EAFE also...
Read MoreApril 9, 2018 - Special Update: Quarterly Report
Domestic stocks lost ground last week as trade war concerns continued to rattle investors. With these declines, the Dow officially moved back into correction territory.[1] For the week, the S&P 500 lost 1.43%, the Dow dipped 0.95%,...
Read MoreApril 2, 2018 - Markets Increase
Markets were closed on March 30 for Good Friday, but in the four days of trading, stocks recovered some of this year's losses.[1] For the week, the S&P 500 added 2.09%, the Dow gained 2.67%, and the NASDAQ increased by 1.03%.[2]...
Read MoreMarch 26, 2018 - Stocks Drop as Tariffs Rise
Markets experienced significant declines last week. The S&P 500 lost 5.95%, the Dow dropped 5.66%, and the NASDAQ declined 6.54%.[1] With these losses, all 3 domestic indexes had their worst weekly performance in more than 2 years.[2]...
Read MoreA Look Back - March 19, 2018
Markets were up on Friday, but domestic stocks lost ground for the week as political turmoil and potential trade wars weighed on investors' minds.[1] The S&P 500 dropped 1.24%, the Dow gave back 1.54%, and the NASDAQ decreased 1.04%...
Read MoreMarch 12, 2018 - Goldilocks Returns
Domestic stocks leapt ahead last week as the latest jobs report inspired renewed confidence in our economic standing. The S&P 500 added 3.54%, and the Dow gained 3.25%.[1] The NASDAQ erased its losses from February's market correction...
Read MoreMarch 5, 2018 - Volatile Markets Continue
Volatility continued last week as markets posted their 1st weekly loss in 3 weeks.[1] Despite some recovery on Friday, the S&P 500 dropped 2.04%, the NASDAQ slipped 1.12%, and the Dow lost 3.05% for the week.[2] Internationally, the...
Read MoreFebruary 26, 2018 - Interest Rates, Treasuries, and Inflation
Last week, the Presidents' Day holiday meant markets were only open for 4 trading days, and during that time, we received comparatively few economic reports. Nonetheless, major domestic indexes showed considerable volatility and...
Read MoreFebruary 20, 2018 - Stocks Rebound
Markets rebounded last week, posting sizable gains and moving back into positive territory for the year. All three domestic indexes experienced their largest weekly growth in years, despite losing some ground on Friday after news of...
Read MoreFebruary 12, 2018 - Special Update: Understanding Volatility
After months of relative calm, market fluctuations are causing many investors to wonder what is happening to the economy. Last week, the S&P 500 lost 5.16%, the Dow dropped 5.21%, and the NASDAQ declined 5.06%.[1] The MSCI EAFE also...
Read MoreFebruary 5, 2018 - Markets Slide as Bond Yields Rise
After 4 straight weeks of gains, the markets have slipped. As of Friday, the S&P 500 lost 3.85%, the Dow dropped 4.12%, and the NASDAQ decreased by 3.53%.[1] International stocks in the MSCI EAFE also took a 2.78% hit.[2] Domestically...
Read MoreJanuary 29, 2018 - Stocks Jump Again
Stocks had an impressive week yet again, as each of the domestic indexes reached record highs and gained at least 2%.[1] The S&P 500 added 2.23%, the Dow increased 2.09%, and the NASDAQ grew 2.31%.[2] International stocks in the MSCI...
Read MoreJanuary 22, 2018 - Stocks Up as Shutdown Looms
We're only a few weeks into 2018, and stocks are showing quite a strong performance so far. Last week, major domestic indexes posted gains yet again, with all 3 up at least 5% this year. By Friday, the S&P 500 had added another 0.86%,...
Read MoreJanuary 16, 2018 - Equities and Inflation Climb
Domestic markets continued their strong start to 2018, posting gains across the board for their 2nd week. The S&P 500 added 1.57% and closed at a new record high on Friday. The index just posted its best 10-day beginning to a year...
Read MoreJanuary 8, 2018 - Stocks Start 2018 With Jump
The first week of 2018 is behind us, and across the globe, stocks experienced a strong start to the year. International stocks in the MSCI EAFE gained 2.44% last week.[1] In the U.S., our major indexes also leapt forward, hitting a...
Read MoreJanuary 2, 2018 - Special Update: 2017 in Review
In the final trading days of a strong 2017, U.S. indexes lost some ground. During the holiday-shortened week, the S&P 500 dropped by 0.36%, the Dow lost 0.14%, and the NASDAQ gave back 0.81%.[1] A selloff toward the end of the day on...
Read MoreDecember 26, 2017 - A Tax Bill Before the Holiday
As we headed into the long holiday weekend, the markets continued to climb as tax reform moved forward.up>[1] For the week, the S&P 500 closed up 0.29%, the Dow rose 0.43%, and the NASDAQ gained 0.35%.[2] International stocks in the...
Read MoreDecember 18, 2017 - Tax Plan Boosts Stocks
Domestic markets were up last week as tax reform became more likely. On Friday, multiple previously undecided Senators announced they would back the combined House and Senate bill, and stocks reacted by hitting new record highs.[1]...
Read MoreDecember 11, 2017 - Strong Markets for the Holidays
As the holiday season progresses, the markets continue to impress. Last week, many energy, financial, and industrial sector stocks helped drive performance.[1] Hitting record highs yet again, the S&P gained 0.35%, and the Dow jumped 0...
Read MoreDecember 4, 2017 - Looking Beyond Politics
Markets went for a wild ride last week - especially on Friday. In fact, on December 1, the S&P 500 had its largest fluctuations since the day after the 2016 presidential election.[1] Nonetheless, two of the major domestic markets hit...
Read MoreNovember 27, 2017 - Black Friday Brings Gains
Last week was a relatively quiet time in the domestic markets. We did not receive a tremendous amount of economic data, and trading halted Thursday for the Thanksgiving holiday. Nonetheless, all 3 of the major domestic indexes...
Read MoreNovember 20, 2017 - Stocks Mixed, Data Up
Domestic stock performance varied last week, with the S&P 500 and Dow losing ground for the 2nd straight week, while the NASDAQ posted gains.[1] By Friday, the S&P 500 had dropped 0.13%, the Dow gave back 0.27%, and the NASDAQ gained...
Read MoreNovember 13, 2017 - Stocks Slide as Uncertainty Rises
After posting gains every week since September, U.S. stocks declined by market's close on Friday. The S&P 500 and Dow ended their longest stretch of weekly increases since 2013, and the NASDAQ ended its own 6-week streak.[1] By...
Read MoreNovember 7, 2017 - Stocks End Up After Busy Week
Once again, the markets ended the week in positive territory - and all 3 major domestic indexes hit new record highs. The S&P 500 added 0.26%, and the Dow was up 0.45%, with both indexes notching their 8th straight week of growth. The...
Read MoreOctober 30, 2017 - Data Drives More Growth
Another week, another round of positive market performance. The 3 major domestic indexes again ended the week with gains and new record highs. The S&P 500 rose 0.23% and marked a 7th-straight week of increases - its longest string of...
Read MoreOctober 23, 2017 - Another Banner Week for Markets
Last week, all 3 major U.S. markets hit record highs once again.[1] The Dow added 2.00% to notch both intraday and closing records, the S&P 500 rose 0.86%, and the NASDAQ gained 0.35%.[2] International stocks in the MSCI EAFE dipped...
Read MoreOctober 16, 2017 - More Record Highs
Last Friday, all 3 major domestic indexes continued their streak of weekly gains and record highs. The S&P 500 added 0.15%, and the Dow was up 0.43%. Meanwhile, both indexes posted their 5th weekly gain in a row. In addition, the S&P...
Read MoreOctober 9, 2017 - Third Quarter Review
This Monday, October 9, marks the 10-year anniversary of the S&P 500's highest point before the Great Recession. While the ensuing decade has provided quite a rocky road for the markets at times, the recovery is undeniable.[1] In fact...
Read MoreOctober 2, 2017 - Another Week of Highs
Before we begin our usual weekly commentary, we wanted to take a moment to honor the victims of Sunday's terrible attack in Las Vegas. Though details are still scarce, it is the most devastating mass shooting in U.S. history. Our...
Read MoreSeptember 25, 2017 - Stocks Mixed, Fed Changes Policy
Domestic indexes were mixed last week, as the Dow gained 0.36%, the S&P 500 eked out a 0.08% increase, and the NASDAQ lost 0.33%.[1] International stocks in the MSCI EAFE added a solid 0.68%.[2] Three stories that have dominated...
Read MoreSeptember 18, 2017 - Understanding Record Highs
After briefly stumbling the week of September 4, domestic indexes notched significant gains last week and hit record highs. By Friday, the S&P 500 exceeded 2,500 for the first time, the Dow closed at its highest level ever, and the...
Read MoreSeptember 12, 2017 - Could Weather Cause Headwinds?
Last week, the markets closed for Labor Day, and in the subsequent four trading days, all three domestic indexes gave back some recent gains. The S&P 500 declined 0.61%, the Dow lost 0.86%, and the NASDAQ slid 1.17%.[1] International...
Read MoreSeptember 5, 2017 - The Economy Picks Up Speed
Last week gave a number of things for both investors and non-investors to think - and worry - about. From North Korea's missiles to Hurricane Harvey's devastation to an unemployment uptick, the headlines were busy. Yet, despite these...
Read MoreAugust 28, 2017 - Markets Bounce Back
After several weekly losses, the major domestic indexes all ended in positive territory on Friday, August 25. The S&P 500 gained 0.72%, the Dow was up 0.64%, and the NASDAQ added 0.79% for the week.[1] International stocks in the MSCI...
Read MoreAugust 21, 2017 - Markets Cautious But Resilient
From domestic unrest to international terrorism, last week provided many headlines that could easily rattle the markets. While we did see days with volatility and declines, the major indexes remained relatively flat.[1]sup> For the...
Read MoreAugust 14, 2017 - Markets Turn Jittery
Last week, rising tension between North Korea and the U.S. rattled the world's markets. As the two countries traded tough words, concerns escalated and markets reacted emotionally to the news.[1] Though stress is building...
Read MoreAugust 7, 2017 - Markets Remain Bullish
Another week of economic performance brought more news that the markets continue their bullish streak. After eight consecutive record-high closings, the Dow rose above 22,000 for the first time ever and finished the week up 1.20%.[1]...
Read MoreJuly 31, 2017 - Markets March Ahead
Last week, markets marched ahead within a busy reporting week. The Dow rose 1.16% to close Friday on another new high.[1] The S&P 500 notched a record high during the week, despite closing the week slightly down 0.02%.[2] Meanwhile,...
Read MoreJuly 24, 2017 - Strong Stocks & A Falling Dollar
Last week, the Dow, S&P 500, and NASDAQ again hit record highs. The midweek peaks fell by Friday, though market performance remained strong.[1] By week's end, the Dow dropped 0.27%, and the S&P 500 and NASDAQ dipped on Friday but...
Read MoreJuly 17, 2017 - Special Quarterly Update: Q2 Coming Into Focus
Last Friday, stocks closed on more record highs. The S&P 500 rose 1.41% and the Dow climbed 1.04% - both closing at new peaks.[1] The NASDAQ reported a 2.58% gain and the MSCI EAFE posted a 2.38% increase.[2] Despite continuing...
Read MoreJuly 10, 2017 - Markets Start Second-Half Slow
As the country celebrated the Fourth of July last week, the markets experienced some volatility, though they finished a bit flat overall.[1] The Dow fell then rose to close the week up 0.30%.[2] The S&P 500 climbed a modest 0.07% for...
Read MoreJuly 3, 2017 - Market Volatility Returns
As Q2 ended, markets hit a six-week volatility high.[1] While the tech sector declined during the week, consumer discretionary and industrial sectors drove stocks higher on Friday.[2] On Friday, the tech-heavy NASDAQ slumped 1.99%.[3]...
Read MoreJune 26, 2017 - Markets Slide Sideways
Last week, markets kept relatively quiet despite the continuing drop in oil prices. The S&P 500 rose by 0.21%, the Dow increased by 0.05%, and the NASDAQ - the week's best performer - jumped 1.84%.[1] Internationally, the MSCI EAFE...
Read MoreJune 26, 2017 - Markets Slide Sideways
Last week, markets kept relatively quiet despite the continuing drop in oil prices. The S&P 500 rose by 0.21%, the Dow increased by 0.05%, and the NASDAQ - the week's best performer - jumped 1.84%.[1] Internationally, the MSCI EAFE...
Read MoreJune 19, 2017 - Mixed Markets Continue
Markets remained mixed last week as the Dow closed at another record high, while the NASDAQ fell and the S&P 500 held steady.[1] By Friday, the Dow gained 0.52%, the NASDAQ fell -0.92%, and the S&P 500 gained a slight 0.05%.[2]...
Read MoreJune 12, 2017 - Mixed Markets. Mixed News.
Markets last week were mixed with leading tech stocks falling dramatically as some investors pulled profits.[1] The NASDAQ took the biggest hit, finishing 1.55% down on the week - its worst week of the year.[2] Meanwhile, the Dow rose...
Read MoreJune 5, 2017 - Stocks Advance, Economy Softens
Last week, the S&P 500, Dow, and NASDAQ closed at all-time record highs.[1] The S&P 500 rose 0.96%, the Dow gained 0.6%, and the NASDAQ grew by 1.54%.[2] Meanwhile, the MSCI EAFE gained 1.64% for the week.[3] Despite strong equity...
Read MoreMay 30, 2017 - Strong and Steady Markets
The markets marched ahead last week with the S&P 500 and the NASDAQ reporting all-time records, albeit just slightly above previous highs.[1] The S&P rose 1.43% over last week, while the NASDAQ was up 2.08%.[2] The Dow gained 1.32%...
Read MoreMay 22, 2017 - Volatility Returns to Markets
Early last week, both the S&P and NASDAQ recorded all time highs before tumbling along with the Dow as political concerns rose.[1] By Friday, though, the markets had largely rebounded and steadied. The S&P 500 closed the week down 0...
Read MoreMay 15, 2017 - Markets Ignore the Politics
Markets tuned out noise from Washington last week and continued to focus on economic fundamentals. Mildly rebounding retail sales and strong consumer sentiment seem to point toward a modestly stronger second quarter.[1]After a...
Read MoreMay 8, 2017 - Markets Stay Steady
Last week, stocks rose but floated within a narrow trading range. By Friday, however, both the S&P 500 and the NASDAQ reached record highs.[1] For the week, the S&P 500 gained 0.63%, the Dow finished up 0.32%, and the NASDAQ rose 0...
Read MoreMay 1, 2017 - Strong Markets and Slow GDP
Stocks continued their advance on generally strong earnings reports this week despite the GDP report showing a slow first quarter economy. The S&P 500 rose 1.51%, the Dow gained 1.91%, and the NASDAQ added 2.32%.[1] On Tuesday, the...
Read MoreApril 24, 2017 - Stocks Gain. Questions Remain.
Domestic stocks posted losses on Friday, April 21, largely due to investor concerns about the French election.[1] Despite these daily losses, U.S. indexes broke their two-week losing streak, with the S&P 500 adding 0.85%, the Dow...
Read MoreApril 17, 2017 - Stocks Slip for Second Week
Last week, major indexes experienced losses for the second week in a row, with the S&P 500 falling 1.21%, the Dow giving back 1.01%, the NASDAQ dropping 1.26%, and the MSCI EAFE declining 0.14%.[1] Markets closed on April 14 for the...
Read MoreApril 10, 2017 - Special Quarterly Update: Stocks Post Strong Gains in Q1
The first quarter of 2017 is now behind us, and although we won't have complete economic data for a while, we do know that domestic stocks had a solid start to the year. Last week, major indexes took a pause from some recent gains and...
Read MoreApril 3, 2017 - Stocks Up, More Data In
With the first quarter of 2017 now behind us, we have seen the three major indexes all gain more than 4.5% so far this year.[1] In fact, the NASDAQ just experienced its best quarter since 2013 due to tech stocks driving growth.[2]...
Read MoreMarch 27, 2017 - Markets Stumble. What Does Data Say?
Last week, all four of the indexes we discuss in these market updates saw their performance stumble. The S&P 500 lost 1.44%, the Dow was down 1.52%, the NASDAQ gave back 1.22%, and the MSCI EAFE declined 0.07%.[1] On Tuesday, March 21...
Read MoreMarch 20, 2017 - Fed Raises Rates Again
For the fifth time in six weeks, domestic stock indexes ended last week in positive territory. The S&P 500 gained 0.24%, the NASDAQ added 0.67%, and the Dow eked out a 0.06% increase.[1] International equities in the MSCI EAFE grew by...
Read MoreMarch 13, 2017 - What a Difference Eight Years Makes
After at least four consecutive weeks of growth, the three major domestic indexes all lost ground this week. The S&P 500 was down 0.44%, the Dow lost 0.49%, and the NASDAQ declined 0.15%.[1] Meanwhile, international stocks in the MSCI...
Read MoreMarch 6, 2017 - Is a Rate Hike Coming?
On Wednesday, March 1, the three major domestic indexes all had their best performance in 2017 and reached record highs yet again.[1] In fact, the S&P 500 hit 2,400 for the first time ever on the same day the Dow went above 21,000 for...
Read MoreFebruary 27, 2017 - Markets Up, New Data on the Horizon
Once again, domestic markets reached record highs last week. The S&P 500 was up by 0.69% and the NASDAQ increased by 0.12%.[1] With its 0.96% week-over-week growth, the Dow has posted gains for 11 straight days and is currently...
Read MoreFebruary 21, 2017 - More Record Highs and New Data
Another week, another round of record highs. Despite concerns about how France's upcoming presidential election could affect the European Union's stability, U.S. stocks ended the week up yet again.[1] The S&P 500 gained 1.51%, the Dow...
Read MoreFebruary 13, 2017 - Taxes, Trade, and Record Highs
The political world has presented many topics of conversation lately. But one discussion has been relatively quiet: tax reform. Last week, however, the president announced that a "phenomenal" tax plan is forthcoming, and domestic...
Read MoreFebruary 6, 2017 - Looking at Labor
Political headlines continued to fill the news last week, and while domestic markets declined during mid-week trading, they rebounded on Friday, February 3.[1] Overall, the week showed only modest movement, as the S&P 500 added 0.12%,...
Read MoreJanuary 30, 2017 - Stocks Up, GDP Down
After a brief pause during inauguration week, stocks continued to climb last week. The S&P 500 added 1.03%, the NASDAQ was up 1.90%, and the MSCI EAFE increased by 1.29%.[1] The Dow also grew, adding 1.34%, ending the week above while...
Read MoreJanuary 23, 2017 - Markets Pause in Search for Clarity
A new presidential era began last Friday with Donald Trump's inauguration, and the market reaction was far more restrained than its response to his election. For weeks after the presidential election, we saw markets defy expectations...
Read MoreJanuary 17, 2017 - Financials Up, Indexes Mixed
As we look back on markets last week, we see mixed results, with none of the major domestic indexes gaining or losing more than 1%.[1] The S&P 500 was down 0.10% for the week, and the Dow gave back 0.39%, once again failing to reach...
Read MoreJanuary 9, 2017 - New Year Starts With Record Highs
The first trading week of 2017 is over, and during this time, all three major domestic indexes hit record highs. The DOW reached 19,999.63 in intra-day trading on Friday, January 6 - just 0.37 away from achieving 20,000 for the first...
Read MoreJanuary 3, 2017 - Special Update: 2016 in Review
Looking back on the final trading week of a very eventful year, we saw low volume and a break from the recent rallies for domestic indexes. While international stocks in the MSCI EAFE added 0.56%, all major U.S. indexes declined.[1]...
Read MoreDecember 27, 2016 - Slow, But Positive, Trading Week
In the last full trading week of 2016, domestic markets were relatively quiet, with many people out of the office for the holidays. Nonetheless, all three major domestic indexes ended the week in positive territory. The S&P 500 was up...
Read MoreDecember 19, 2016 - Fed Raises Rates
Last week was mixed for the markets, as the Dow increased by 0.44%, while the S&P 500 lost 0.06%, the NASDAQ dropped 0.13%, and the MSCI EAFE gave back 0.55%.[1] We also saw a variety of data released, giving a similarly mixed view of...
Read MoreDecember 12, 2016 - Rational Exuberance?
On Friday, December 9, all three major U.S. stock indexes ended at record highs. For the first time in five years, they each posted gains every day of the trading week.[1] The S&P 500 was up 3.08%, the Dow added 3.06%, and NASDAQ...
Read MoreDecember 5, 2016 - A Mixed View
After a three-week run where all major U.S. indexes posted significant gains, we saw more mixed results last week. The Dow was up 0.10%, but the S&P 500 lost 0.97% and the NASDAQ was down 2.65%. The MSCI EAFE's measure of...
Read MoreNovember 28, 2016 - Many Reasons to Give Thanks
During a week while many were thankful, the markets gave us much to be thankful for. Through the four-day trading week, the S&P 500 was up 1.44%, the Dow gained 1.51%, the NASDAQ added 1.45%, and the MSCI EAFE increased 1.26%.[1] What...
Read MoreNovember 21, 2016 - Stocks Up, Fed Increase Likely
For the second straight week, the major domestic indexes all ended in positive territory: The S&P 500 was up 0.81%, the Dow increased 0.11%, and the NASDAQ added 1.61%.[1] While American indexes performed well, MSCI EAFE's...
Read MoreNovember 14, 2016 - A Week of Surprises
Last Tuesday, many Americans watched in great surprise as Donald Trump won the presidential election. Just that day, the New York Times had placed Hillary Clinton's odds of winning at 85%,[1] based on a range of state and national...
Read MoreNovember 7, 2016 - Stocks Down but Long-Term View Up
We're in the middle of an interesting moment for the markets, where short-term volatility and uncertainty might lead you to believe that the economy is faltering. After all, the major stock indexes lost ground this week, with the S&P...
Read MoreOctober 31, 2016 - Big Headlines Drive the Markets
At first glance, last week's headlines may lead you to think that the markets are fluctuating more than they actually are. Yes, Hillary Clinton's emails are in the news again (more on that below), but despite that surprise, the major...
Read MoreOctober 24, 2016 - A Quiet Week Ends With Indexes Up
After a two-week losing streak, U.S. indexes ended in positive territory across the board. The S&P 500 increased by 0.38%, the Dow was up 0.04%, and the NASDAQ gained 0.83%. The MSCI EAFE, a measure of international developed nations'...
Read MoreOctober 17, 2016 - How Much Will Hurricane Matthew Cost?
Though stocks rose Friday after statements from Federal Reserve officials, the major indexes ended the week lower amid choppy trading. For the week, the S&P 500 lost 0.96%, the Dow fell 0.56%, the NASDAQ dropped 1.48%, and the MSCI...
Read MoreOctober 10, 2016 - Special Quarterly Update: Stocks See Strong Gains in Q3
After a volatile September, stocks ended the third quarter of 2016 resoundingly in the black. In the third quarter, the S&P 500 gained 3.31%, the Dow grew 2.11%, the NASDAQ added 9.69%, and the MSCI EAFE gained 5.80%.[1] What drove...
Read MoreOctober 3, 2016 - Why Deutsche Bank Isn't Lehman
Though the final week of the third quarter ended positively for the major indexes, stocks took a rocky path to get there. A presidential debate, surging oil prices, and concerns about a global bank all took their toll on the market...
Read MoreSeptember 26, 2016 - Stocks Rally After Fed Stands Pat
Stocks rallied again last week after the Federal Reserve voted not to raise interest rates this month. While few expected the Fed to act last week, official statements suggest the path to higher rates looks clearer. For the week, the...
Read MoreSeptember 19, 2016 - After Summer Slumber, Volatility is Back
Volatility picked up last week due to pressures from lower oil prices and speculation about the timing of the Federal Reserve's next rate hike. This summer has been historically calm for markets, leading markets to trade without big...
Read MoreSeptember 12, 2016 - Stocks Drop on Interest Rate Worries
After trading flat for most of the week, stocks broadly sank Friday on fears of a future rate hike. For the week, the S&P 500 lost 2.39%, the Dow fell 2.20%, the NASDAQ dropped 2.36%, and the MSCI EAFE lost 0.16%.[1] Monetary policy...
Read MoreSeptember 6, 2016 - Stocks Surge on August Jobs Miss
After losing steam the previous week, stocks rose last week as investors cheered a weak jobs report and the declining probability of a September interest rate increase by the Federal Reserve. For the week, the S&P 500 gained 0.50%, the...
Read MoreAugust 29, 2016 - LIBOR Surge May Rule Out September Fed Rate Hike
After rallying for weeks, the major indexes fell last week ahead of key remarks by Federal Reserve officials and turbulence in money markets.[1] For the week, the S&P 500 lost 0.68%, the Dow fell 0.85%, the NASDAQ dropped 0.37%, while...
Read MoreAugust 22, 2016 - NASDAQ Posts Eighth Week of Gains
The S&P 500 and Dow ended last week slightly lower, but the NASDAQ posted an eighth straight week of gains for the first time since 2010.[1] For the week, the S&P 500 lost 0.01%, the Dow fell 0.13%, the NASDAQ gained 0.10%,and the...
Read MoreAugust 15, 2016 - S&P 500, Dow, and NASDAQ Post New Records
Stocks ended last week mostly flat, falling slightly on Friday after the major U.S. indexes set new record highs on Thursday on positive earnings surprises. The NASDAQ also notched a seventh week of gains, its longest winning streak...
Read MoreAugust 8, 2016 - S&P 500 at New High After Jobs Blowout
Stocks bounced last week, ending sharply higher after a better-than-expected jobs report. For the week, the S&P 500 gained 0.43%, the Dow rose 0.60%, the NASDAQ added 1.14%, but the MSCI EAFE lost 1.41%.[1] Among last week's major...
Read MoreAugust 1, 2016 - Stocks Close Mixed on GDP Disappointment
Stocks broke their four-week winning streak, closing mixed after the release of a surprisingly low estimate of second-quarter economic growth. For the week, the S&P 500 lost 0.07%, the Dow fell 0.75%, the NASDAQ grew 1.22%, and the...
Read MoreJuly 25, 2016 - S&P 500 Closes at Another New Record
Stocks ended a fourth straight week of gains, sending the S&P 500 index to another record high.[1] For the week, the S&P 500 gained 0.61%, the Dow grew 0.29%, the NASDAQ added 1.40%, and the MSCI EAFE closed flat.[2] Second-quarter...
Read MoreJuly 18, 2016 - Stocks Set New Records
Stocks were up for the third week in a row, posting record highs on better-than-expected earnings results and solid domestic economic data.[1] Since the bottom of the post-Brexit selloff, the S&P 500 has gained 8.06%.[2] For the week,...
Read MoreJuly 11, 2016 - S&P Tests New High on Jobs Surge
Markets surged last week after a surprising June jobs report buoyed investor sentiment. The S&P 500 came within a hair of a new record close on the news. For the week, the S&P 500 grew 1.28%, the Dow gained 1.10%, the NASDAQ added 1...
Read MoreJuly 5, 2016 - Stocks End Q2 With a Bang
After the previous week's post-Brexit selloff, stocks closed out last week with one of the best performances of 2016 as investors bought the dip. In the first half of the year, the S&P 500 was up 2.69%, the Dow was up 2.90%, the...
Read MoreJune 27, 2016 - Britain's Messy Divorce: How Brexit May Affect U.S. Investors
Stocks fell sharply last week in response to Britain's vote to leave the European Union (EU), putting major indices in the red for 2016. Why did markets react so badly? The vote to leave was a surprise to most, and markets hate...
Read MoreJune 20, 2016 - Fed Blinks on Brexit Fears
Markets fell on Brexit fears and concerns about the Fed's dovish statements, giving the Dow its worst week in a month.[1] For the week, the S&P 500 slipped 1.19%, the Dow fell 1.06%, the NASDAQ dropped 1.92%, and the MSCI EAFE lost 2...
Read MoreJune 13, 2016 - Is Britain Really Going to Leave the EU?
Before we begin our usual weekly commentary, we wanted to take a moment to honor the victims of Sunday's terrible attack in Orlando. Though details are still scarce, it is the most devastating mass shooting in U.S. history. Our...
Read MoreJune 6, 2016 - What Did the May Jobs Report Show Us?
Stocks closed the holiday-shortened week mixed, with some sectors losing ground while others gained after a disappointing May jobs report signaled that the economy may not be strong enough for the Federal Reserve to raise rates this...
Read MoreMay 31, 2016 - Dow, S&P 500 Post Best Week Since March
Stocks ended a solid week on a high note ahead of the Memorial Day weekend after statements by Federal Reserve officials boosted expectations of a rate hike this summer. For the week, the S&P 500 gained 2.28%, the Dow rose 2.13%, the...
Read MoreMay 23, 2016 - Fed Changes Tune On Interest Rates
Stocks closed out a bumpy week mixed, ending a three-week stretch of losses for the S&P 500 and NASDAQ. The Dow, however, extended losses for a fourth straight week for the first time since 2014.[1] For the week, the S&P 500 gained 0...
Read MoreMay 16, 2016 - Stocks Drop on Retail Earnings Woes
Stocks fell again for the third week in a row, driven lower by poor earnings reports from some major department store retailers. For the week, the S&P 500 lost 0.51%, the Dow fell 1.16%, the NASDAQ dropped 0.39%, and the MSCI EAFE...
Read MoreMay 9, 2016 - April Jobs Report Shows Slower Pace of Growth
Markets slumped for the third week as global concerns pressured investors again, and domestic data painted a modest picture. For the week, the S&P 500 lost 0.40%, the Dow fell 0.19%, the NASDAQ dropped 0.82%, and the MSCI EAFE fell 3...
Read MoreMay 2, 2016 - Is the Bull Market Too Old?
As of Friday, the S&P 500 is on the second-longest bull market run in history, surpassing the 1949-1956 bull market that lasted 2,607 days. The longest bull market in history ran between 1987 and 2000, lasting nearly 4,500 days.[1]...
Read MoreApril 25, 2016 - Stocks End Mixed as Tech Falls on Earnings
Stocks ended last week mixed on earnings that were largely better than expected, though the tech sector disappointed. For the week, the S&P 500 gained 0.52%, the Dow grew 0.59%, and the NASDAQ lost 0.65%.[1] First-quarter earnings...
Read MoreApril 18, 2016 - Dow Ends Best Week in a Month
Stocks rallied again last week on better-than-expected earnings and some reassuring news about China's economy, giving the Dow its best weekly performance since mid-March.[1] For the week, the S&P 500 gained 1.62%, the Dow added 1.82%...
Read MoreApril 11, 2016 - Stocks Post Worst Week Since February
Stocks tumbled last week on downward revisions to U.S. economic growth and worries about global growth.[1] For the week, the S&P 500 fell 1.21%, the Dow lost 1.21%, and the NASDAQ gave up 1.30%.[2] After a rosier-than-expected fourth...
Read MoreApril 4, 2016 - Special Quarterly Update: Roller Coaster Q1 Ends Mixed
After a rocky start to the year, most stocks ended the first quarter slightly higher, which is remarkable considering the negative sentiment that caused stocks to selloff in the early weeks of 2016. For the quarter, the S&P 500 gained...
Read MoreMarch 28, 2016 - Q4 GDP Revised Upward by Strong Consumer Spending
Stocks ended the holiday-shortened week down, snapping their five-week winning streak. However, losses were mild amid low trading volume before the Easter weekend. For the week, the S&P 500 lost 0.67%, the Dow fell 0.49%, and the...
Read MoreMarch 21, 2016 - Dow and S&P 500 Green for 2016
After a historically rough start to the year, stocks finally rallied enough to put the S&P 500 and Dow in the green for the year. Extended weakness in the dollar-which investors hope could boost economic growth and corporate...
Read MoreMarch 14, 2016 - Bull Market Anniversary: What's Changed in 7 Years?
Stocks closed out their fourth week of gains as investors gained confidence from higher oil prices and aggressive moves by the European Central Bank. For the week, the S&P 500 rose 1.11%, the Dow grew 1.21%, and the NASDAQ added 0.67%...
Read MoreMarch 7, 2016 - Stocks Rally for Third Week
Markets closed out a third week of gains, putting the Dow at a two-month high and erasing much of the year's losses. Higher oil prices and an upbeat February jobs report contributed to the rally.[1] For the week, the S&P 500 increased...
Read MoreFebruary 29, 2016 - Stocks End Higher for Second Week
Markets closed out another solid week of gains on the back of higher oil prices and some positive economic data. For the week, the S&P 500 increased 1.58%, the Dow grew 1.51%, and the NASDAQ added 1.91%.[1] Investors got their second...
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