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:
The Smell of Speculation
Last Week If you asked somebody how the weather was that day, the answer would depend on several factors, with their location being the most important variable. The same dynamic holds when people ask, "How was the market today?” The answer depends on the individual...
Magnificent Crypto
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...
Tra-La-La-La-Rally
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...
Crypto Bananas
> 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...
Not So Peaceful
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...
The Big Bump
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,...
Magnificent Without Satisfaction
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...
Spinning Markets
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...
Six Weeks of Good News
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...
Noisy, but Higher
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.
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