Fourth Quarter Comeback

February 8, 2021

  Positive quarterly earnings reports and progress on stimulus talks helped the equity market rebound to start February on a positive note. The Dow Jones Industrial Average was +3.6%, the S&P 500 Index was +4.3%, and the NASDAQ 100 Index was +4.9%. We’re just past halfway in the fourth quarter earnings cycle and S&P 500 …

Report Cards

January 19, 2021

  The stock market posted its first down week of 2021. For the week, the Dow Jones Industrial Average declined 0.3%,  the S&P 500 Index declined 0.7%, and the NASDAQ 100 Index declined 1.6%. Small cap stocks and oil both posted gains for the week. We start to move deeper into fourth quarter earnings reports …

Strong Start

January 11, 2021

  The stock market shrugged off a down first trading day of the year and finished the first week of 2021 with gains. For the week, the Dow Jones Industrial Average was +1.7%,  the S&P 500 Index was +1.9%, and the NASDAQ 100 Index was +1.7%. Oil also continued its year-end rally and opened 2021 …

We Made It!

December 28, 2020

  President Trump signed the stimulus and omnibus bill on Sunday. This funds the government through September 30th and provides multiple stimulus measures outlined below in our Dissecting Headlines section. For the week, the Dow Jones Industrial Average was +0.1%,  the S&P 500 Index was –0.1%, and the NASDAQ 100 Index was –0.2%. Initial unemployment …

Injections

December 14, 2020

  The previous week’s stimulus talks seem to have stalled as the week went on. This, coupled with an uptick in Initial Jobless Claims and COVID cases, pushed the equity market down from record highs. The Dow Jones Industrial Average was –0.5%, the S&P 500 Index was –0.9%, and the NASDAQ 100 Index was –1.2%. …

Earnings Matter

February 17, 2020

  Despite concerns over impact of the coronavirus, the equity markets staged a recovery back toward record levels last week. We believe the significant story here is corporate earnings. With 387 companies in the S&P 500 Index having reported fourth quarter 2019 earnings, 72% have exceeded expectations, 10% have been in-line and 19% have been …

Decision Point

July 29, 2019

  On Wednesday, the Federal Open Market Committee (FOMC) will make a decision on its interest rate target. The current market probabilities are for a reduction of 0.25% which would bring the target range for the Fed Funds Rate to 2.00% to 2.25%. We can attribute most of the stock market tailwind over the past …