Last Week It was the best of times for Magnificent 7 and Crypto enthusiasts, with both asset classes surging over 6%. Fundamental investors, handicapped by paying attention to traditional valuation measures, missed the party. In fact, declining issues outnumbered...
Last Week The Santa Claus rally that started in November 2023 continued to jingle away as the market logged its 53rd record high for 2024. While the Scrooges bemoaned inflation and tariffs, other investors embraced the strong economic data and loaded their...
> Last Week A banana affixed to the wall with a piece of silver duct tape sold for $6.2 million to a cryptocurrency operator as the price of Bitcoin approached $100,000. Turning to more traditional assets, the U.S. dollar, gold, crude oil, and every stock market...
Last Week For what it’s worth, there’s something happening here, what it is isn’t exactly clear, but Wall Street traders stopped and took the market down (inspired by Buffalo Springfield’s “For What It’s Worth”). In fact, the stock market has posted its worst weekly...
Last Week The stock market posted its best advance in over a year as investors embraced the election results. Solid corporate earnings reports and a Fed interest rate cut further boosted the market. The S&P 500 surged 4.7%, setting its 50th record high of 2024,...
Last Week Investors could not get any satisfaction as a slew of earnings reports, economic data, and election anxiety combined to send stocks on a 2-week losing streak. Earnings from Microsoft and Meta were somewhat less than magnificent, and the declines in their...
Last Week What goes up (for six weeks in a row) has to come down (at least for a week), as the stock market’s spinning wheel has to go around. Wall Street traders' heads were in the spin cycle, with a mixed bag of earnings reports and economic data. The S&P...
Last Week The stock market’s weekly win streak reached six while notching its 46th and 47th record closes of the year. During this period, the equally weighted S&P Index (RSP) has mirrored the performance of the S&P 500, highlighting the broadening of the...
The market was able to extend its winning streak to five weeks despite escalating tension in the Middle East, a slightly hotter-than-anticipated consumer inflation report, a spike in jobless claims, a decline in consumer sentiment, and a 9-basis points increase in the yield on the 10-year Treasury.
Last Week The stock market weathered the crosscurrents of escalating tension in the Middle East, a potential disruptive labor dispute, and rising interest rates to post modest gains. The Oil & Gas sector was the only big winner, rising 6.7%, while the S&P 500...