Kuby’s Commentary

Eric Kuby, Chief Investment Officer of North Star Investment Management, writes a weekly commentary on market and economic trends.

Here is a sampling of recent commentary:

Quiet Finish to Summer

Last Week All was quiet on Wall Street, as traders digested solid economic data, Nvidia’s earnings, and the never-ending news flow in the nation’s capital. Nvidia, the world's largest chipmaker and most highly valued company, posted terrific earnings, but investors...

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All About Jerome

Last Week “The Shifting balance of risks may warrant adjusting our policy stance,” said Federal Reserve Chair Jerome Powell on Friday at the annual Jackson Hole Economic Policy Symposium. Traders translated that to mean “we are lowering the fed funds rate at the...

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Rate Cut Strut

Last Week The stock market was dancing to the beat of the Four Tops' 1965 classic hit “It’s the Same Old Song”, as once again inflation data influenced traders' expectations for upcoming interest rate decisions. The big move on Tuesday followed the July consumer price...

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Comfortably Numb Rally

Last Week The stock market posted its best week since late June, driven by solid quarterly earnings and the prospect of lower interest rates. Following another series of beats across multiple sectors, the growth rate for S&P 500 earnings increased from 10.3% to...

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The Fed’s Pickle

Last Week Corporate earnings reports were solid, but the news flow on tariffs, the jobs market, and the Fed soured the mood on Wall Street, leading to a down week for stocks. The S&P 500 shed 2.4%, the Nasdaq Composite slipped 2.2%, and the Russell 2000 slid 4.2%....

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Trade Truce, Market Cruise

Last Week The stock market reached its 14th record high of 2025 on Friday, with the S&P 500 gaining 1.5%, the Nasdaq Composite +1%, and the Russell 2000 +0.9% for the week. The number of Advancing issues was double that of declining issues, and every industry...

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Tariff Roundabout

Last Week It was a mixed bag for stock market investors. Strong performance in the Tech sector led to record highs in the S&P 500 and Nasdaq Composite, but underneath the surface, declining issues outnumbered advancing issues by a factor of 3-2, while...

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Tariff Teeter Totter 2.0

Last Week Wall Street was stuck on the tariff seesaw, teetering up on Monday and tottering down on Friday. The final tilt was slightly negative, with the S&P 500 -0.3% and the Nasdaq Composite -0.1%. Small caps had a rougher ride, with the Russell 2000 losing...

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Lots of Green for the Red, White, & Blue

Last Week There were fireworks on Wall Street as the stock market rocketed to a record close ahead of the July 4 Independence Day weekend. The positive sentiment came from an improved tariff tango tempo and a surprisingly strong June jobs report. The first positive...

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Buoyant Markets Ride the Peace Wave

Last Week A ceasefire between Israel and Iran, combined with the finalization of a trade agreement between the U.S. and China, sent stocks to a new record close. The ceasefire eased concerns about a widespread war in the Middle East and brought oil prices down...

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Market Commentary by Eric Kuby, Chief Investment Officer of North Star Investment Management