Slow Play

April 24, 2023

  Despite the rush of individual company earnings reports, the equity markets stayed nearly flat for the week. The S&P 500 Index ended the week -0.1%, the Dow was -0.2%, and the NASDAQ was -0.6%. The 10-year U.S. Treasury note yield increased to 3.572% at Friday’s close versus 3.552% the previous week. First quarter earnings …

Fundamental Focus

April 17, 2023

  The first quarter earnings season is underway. Several of the large banks reported at the end of last week. This week we will hear from a larger and more diversified group of companies. This should keep the focus on individual company fundamentals for the next few weeks leading up to the next Federal Open …

Ducks in a Row

April 10, 2023

  April is off to a modest start in the equity markets. The S&P 500 Index ended the holiday shortened week -0.1%, the Dow was +0.7%, and the NASDAQ was -0.9%. The 10-year U.S. Treasury note yield decreased to 3.383% at Friday’s close versus 3.490% the previous week. The March employment report showed 236,000 new …

Out Like a Lion

April 3, 2023

  Earlier last month we mentioned March had come in like a lion. Then came the banking crisis. As the crisis began to resolve, investor confidence returned and March went out like a lion. The S&P 500 Index ended the last week of March +3.5%, the Dow was +3.2%, and the NASDAQ was +3.3%. The …

Calming Effect

March 27, 2023

  The equity markets rose last week as some stability returned to the banking system and the Federal Reserve signaled it was nearing the final increases in its monetary policy tightening cycle. The S&P 500 Index ended the week +1.4%, the Dow was +1.2%, and the NASDAQ was +2.0%. The 10-year U.S. Treasury note yield …

Savings Time

March 13, 2023

  The equity markets fell sharply at the end of last week prompted by stability concerns in the banking sector after the closure of Silicon Valley Bank.  The S&P 500 Index ended the week -4.5%, the Dow was -4.3%, and the NASDAQ was -3.7%. The 10-year U.S. Treasury note yield decreased to 3.695% at Friday’s …

In like a Lion

March 6, 2023

  The equity markets have gotten off to a good start for March. Last week, the S&P 500 Index was +2.0%, the Dow was +1.9%, and the NASDAQ was +2.7%. The 10-year U.S. Treasury note yield increased to 3.963% at Friday’s close versus 3.949% the previous week. Comments from Federal Reserve officials that the Federal …

Shiver

February 27, 2023

  The equity markets have gone cold in February with the S&P 500 Index declining for three consecutive weeks. Last week, the S&P 500 Index was -2.7%, the Dow was -3.0%, and the NASDAQ was -3.1%. The 10-year U.S. Treasury note yield increased to 3.949% at Friday’s close versus 3.828% the previous week. The January …

Inflation Ain’t Dead Yet

February 20, 2023

  Higher than expected inflation reports struck a cautionary tone in equities last week. The S&P 500 Index was -0.2%, the Dow was flat, and the NASDAQ was +0.5%. The 10-year U.S. Treasury note yield increased to 3.828% at Friday’s close versus 3.743% the previous week. The January Consumer Price Index (CPI) and Producer Price …

Investors can be Fickle

February 13, 2023

  Investors did not show stocks much love last week as the market retreated after a strong start to the year. The S&P 500 Index was -1.1%, the Dow was -0.1%, and the NASDAQ was -2.1%. The 10-year U.S. Treasury note yield increased to 3.743% at Friday’s close versus 3.532% the previous week. Last week …