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 Sky Isn’t Falling
On Hold Chicken Little flew the coop as investors concluded that the sky was not actually falling following the passage of a debt ceiling bill that averted a U.S. default combined with the mounting evidence that future interest rate hikes are on hold. The next critical economic data will [...]
Closing In Artificial intelligence and questionable intelligence dictated the action in the financial markets. Early in the week stocks drifted lower as debt ceiling talks progressed without resolution and the Fed minutes showed uncertainty about future monetary policy actions (both qualifying as questionable intelligence). Nvidia’s fantastic earnings Wednesday evening [...]
A Better Tune
No Fresh Drama The equity markets moved higher, with the usual suspects (Apple and its fellow tech giants) continuing to lead the charge, but with the rally broadening out as other stocks joined the party. The Nasdaq Composite gained 3%, the S&P 500 rose 1.6%, and the Russell 2000 [...]
Time to Change the Tune
Last Week: Negative Spin Don't worry, be happy In every life we have some trouble But when you worry, you make it double Don't worry, be happy Don't worry, be happy now Bobby McFerrin penned those lyrics back in 1988. Today’s grandstanding politicians and attention seeking media outlets have [...]
Resilient Friday Rebound
Another Rate Hike Uncertainty remained in fashion on Wall Street, with a mixture of comforting and disquieting headlines. On the one hand corporate earnings reports and the economic data releases were encouraging; on the other hand, there were fear mongering short sellers assaulting the banking system and yet another [...]
A Solid Finish
Aftershock The market suffered from an SVB aftershock early in the week, as banking concerns resurfaced after First Republic Bank (FRC) revealed a continued deposit outflow. First Republic, the 14th largest bank in the U.S., relied on wealthy customers with large balances among its depositors. Those customers were tremendously [...]
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