As we mark the halfway point in 2020, we have seen some rapid fluctuations between optimism and pessimism over the course of six months. We entered the year with a strong economy, a robust stock market, and a Federal Reserve that was committed to economic expansion. We have since witnessed the social and economic …
A combination of concern regarding a re-acceleration of COVID-19 cases and a natural tendency for a pause once the market regained its beginning year levels resulted in a decline in major market averages last week. The Federal Reserve which has pledged economic support throughout the COVID-19 crisis left short-term interest rates unchanged near zero …
While the economy still has room for improvement, the stock market has staged an impressive recovery. As a supplement to our Weekly Market Commentary, here is an additional report outlining our thoughts around the 2020 market decline and recent recovery. The U.S. economy is in a recession in the first half of 2020, but …
While the economy still has room for improvement, the stock market has staged an impressive recovery. Coming off the March low, the S&P 500 Index has advanced 45%. The containment of COVID-19, Federal Reserve’s actions to provide liquidity into the financial system, and continued incremental positive news on the opening of the economy have …
Despite the widespread economic displacement from the COVID-19 lockdown, an optimistic case can be made for a rebound in consumer activity over the next few months. The U.S. consumer accounts for approximately two-thirds of economic activity, so a healthy consumer is the engine of the U.S. economy. With the continued phase-in of activity, workers …
Link to the Risk Tolerance Questionnaire Here The investment markets have been volatile the past few weeks. With events like the COVID-19 outbreak, it can be difficult to know when they can happen or what impact they can have on the stock market and your investment portfolio. One thing you can do to be …
Continued spread of the coronavirus (COVID-19) led stocks to the downside late last week. News of the virus also spreading outside of China to countries such as Italy has brought additional concern to investors trying to understand the potential economic impact of the outbreak. We view the issue as transitory. While the first quarter …
The enthusiasm from the Phase One U.S. – China trade agreement was quickly tempered as fear of the economic impact of the Coronavirus on global growth seeped into the markets. Major market averages saw their first weekly decline for the year. Despite the headline health scare, corporate earnings reporting season rolls on. With 85 …
Momentum from year-end continued into the new year until U.S. – Iran tension reached a boiling point. The typical Middle East worry trade followed with oil, gold, Treasury bonds, bond proxies, and defense industry stocks to the positive in an otherwise down market. The Federal Reserve released the minutes from its December meeting. The …
The stock market struggled most of the week but staged a comeback rally on Friday on the better than expected employment report for November. The Labor Department reported nonfarm payrolls increased by 266,000 in November, well above expectations of 180,000. The unemployment rate also declined from 3.6% to 3.5%. This marks the 21st consecutive …
The S&P 500 Index closed November +3.6%, its best monthly performance since June. Investor confidence in a healthy consumer, low inflation, and optimism on U.S.—China trade talks continue to buoy stocks. With only a month left in 2019, there are a few remaining milestones to monitor as we move into the end of the …
Stocks retreated from record levels last week. The third quarter earnings season is near finished with 476 of 500 companies having reported earnings. The earnings reporting season has materialized better than first thought a few months ago. Earnings should finish with a mild year-over-year decline of less than 0.5% versus expectations of a 2.2% …
Stocks remain at record levels on optimism for a partial trade truce. As we head into the final leg of corporate earnings season, we anticipate that macroeconomic and geopolitical headlines should continue to dominate market direction day-to-day. Earnings have shown a more positive picture than was expected in late September. Of the 461 companies …
Optimism on U.S.—China trade helped markets extend gains for the third straight week. Stocks are at record levels as the third quarter earnings season slows into its final weeks. Of the 446 companies in the S&P 500 that have reported 3Q earnings, 74% have exceeded expectations, 7% have met expectations and 19% have reported …
The corporate earnings season has so far been less negative than originally anticipated. Of the 199 companies that have reported 3Q earnings, 78% have exceeded expectations, 7% have met expectations, and 15% have reported below expectations. This has improved current earnings estimates for the quarter to a 2.0% decline in year/year earnings on 3.4% …
It was a volatile week in the stock and bond markets with each day providing a different catalyst to change market direction. The week started with continued concern over U.S. dollar / Chinese yuan exchange rate and trade/tariff issues. Optimism reigned on Tuesday as the White House announced a delay to some tariffs until …
Second quarter earnings season takes center stage this week as 56 companies in the S&P 500 Index are scheduled to report earnings results. Most major banks will report earnings and we can see how they are navigating the current interest rate environment. Several industrial companies will also report earnings results and we can get …
An upside surprise to the June employment report last week tempered expectations that the Federal Reserve would be reducing short-term interest rate at the July FOMC meeting. The Labor Department reported that Non-Farm Payrolls increased by 224,000 in June versus an expectation of 160,000. This was a sharp reversal from May’s disappointing jobs report …
The advance report on First Quarter U.S. Gross Domestic Product (“GDP”) was reported at +3.2%. This was an upside surprise to the 2% widely anticipated by most economists. Part of the surprise was in net trade (exports versus imports) which was refreshing to see given the concern over the U.S.—China trade standoff. Personal consumption …
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