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:
TINA Clock Tick-Tock
Last Week: The market continued to rebound fueled by better than expected corporate earnings, hope for another round of helicopter money from the government, and optimism over COVID-19 vaccines and therapeutics development. Reality Check: 1) Second quarter earnings are tracking to post the largest decline since the financial crisis [...]
Fab Five Keep Winning
Last Week: The glass is half empty: For Q2 2020, the blended earnings decline for the S&P 500 is -35.7%. If -35.7% is the actual decline for the quarter, it will mark the largest year-over-year decline in earnings reported by the index since Q4 2008 (-69.1%). The glass is [...]
Tighten the Knot on your Bathing Suit
Last Week: Earnings season is underway with 26% of the companies in the S&P 500 having reported actual results for Q2 2020. The good news is that the percentage of companies reporting actual EPS above estimates (81%) is above the five-year average, with companies reporting earnings that are 11.4% [...]
The Sun Also Rises
Last Week: Earnings season produced no surprises with 9% of the S&P 500 companies having reported results which were consistent with forecasts for a 44% decline in profits for the quarter. If -44.0% is the actual decline for the quarter, it will mark the largest year-over-year decline in earnings [...]
Earnings Season Therapeutics
Last Week: The market got off to a nice start on Monday after a weekend of significantly lower coronavirus deaths and bullish economic news from China’s state-run media. The middle of the week was dominated by a surge in COVID-19 cases and cautionary comments from Dr. Anthony Fauci, who [...]
End of Quarter Fireworks
Last Week: Despite the general absence of fireworks (Mount Rushmore and other exceptions noted), the market enjoyed a festive pre-holiday rally with the S&P 500 gaining 4.02% and the Nasdaq Composite reaching a new record high. Three cheers for the Red, White, and Blue! For the quarter, the market [...]
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