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:
Rate Cut Shadow
Leading the Charge The good news continued to roll in from corporate earnings and U.S. economic data, somewhat offset by another dose of modestly hawkish jawboning from Chairman Powell and his merry band of Federal Reserve Governors. On the earnings front, strong...
No Tears in Economic Data
Elite Six Stocks were positive for the week as more Goldilocks economic data fueled investor optimism. Earlier in the week, the U.S. gross domestic product came at a 3.3% clip in last year's fourth quarter, much stronger than the expected 2% gain. On Friday, the...
Sunshiny Day
Pick-up in Sentiment I can see clearly now the rain is gone I can see all obstacles in my way Gone are the dark clouds that had me blind It's gonna be a bright (bright) Bright (bright) sunshiny day For the past 18 months, the dissonance of a healthy economy and...
Cooling Off
Tepid Start Stocks edged higher for the week as tame inflation reports drove bond yields lower and restored investor confidence that the Fed would soon be cutting interest rates. The PPI fell 0.1% in December amid declining costs for goods such as diesel fuel and...
A Sober Start to 2024
Market Hangover Investors seem to sober up following the nine-week-long stock market party that closed out 2023, as the S&P 500 fell 1.5%, the Nasdaq Composite dropped 3.2%, and the Russell 2000 sank 3.8% in holiday-shortened trading. Declining issues almost...
Not an Investor Was Stirring
Conventional Wisdom Twas the week after Christmas and trading was light. Stocks traded higher with a record in sight. The Goldilocks economy overcame the doomsayers' fears. The Santa Claus rally kept rolling right into the New Year. The S&P 500 gained 0.3%, the...
The Bulls are Back
A Recession That Never Was For most of 2023, the consensus amongst the talking heads of the market was that there was an impending recession and that interest rates would stay higher for longer to combat stubborn inflation. On the other hand, the economic data kept...
Santa Claus Rally
Clear Path to Cuts The foundation of the bear case for the economy and the financial markets during 2022 and 2023 was the “higher for longer” mantra from the Federal Reserve. In other words, the Fed’s tight monetary policy would lead to a deep recession before...
Jolting Higher
Healthy Equilibrium The data from the Labor Department further illuminated an economy on a path back to normal conditions, otherwise known as the soft-landing proposition. On Tuesday, the Job Openings and Labor Turnover Survey, or JOLTS report, showed that U.S. job...
You Get What You Need
Long and Winding The S&P 500 reached its highest level in more than a year on Friday after Federal Reserve Chair Jerome Powell suggested that interest rates have peaked. “We’re getting what we wanted to get, we now have the ability to move carefully,” which...
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The North Star InvestCast aims to guide investors on actionable insights in the securities markets. Hosted by Eric Kuby, Chief Investment Officer of North Star Investment Management Corp.