Kuby’s Commentary

Last Week No deal! The government shut down on Wednesday after Senate votes on a continuing resolution did not pass. Following the shutdown, the U.S. Bureau of Labor Statistics was unable to release the much-anticipated September nonfarm payroll report. The ADP report...

Last Week After a nine-month gestation period, the Fed delivered a 25-basis-point rate cut. Additionally, the Fed’s updated Summary of Economic Projections (dot plot) tilted more dovish with two more cuts in 2025. Nevertheless, Fed Chair Jerome Powell’s post-decision...

Last Week “It’s the economy, stupid” was a phrase coined by James Carville in 1992, when he was advising Bill Clinton’s presidential campaign. The related phrase in the stock market recently could be “It’s the Fed Funds rate, stupid”. Following tame inflation data,...

Last Week The stock market inched up, with the S&P 500 reaching a record high on Thursday before retreating on Friday during the holiday-shortened week. Sentiment was mixed as the weakness in the labor market bolstered the case for more aggressive Fed easing but...

Last Week All was quiet on Wall Street, as traders digested solid economic data, Nvidia’s earnings, and the never-ending news flow in the nation’s capital. Nvidia, the world's largest chipmaker and most highly valued company, posted terrific earnings, but investors...

Last Week “The Shifting balance of risks may warrant adjusting our policy stance,” said Federal Reserve Chair Jerome Powell on Friday at the annual Jackson Hole Economic Policy Symposium. Traders translated that to mean “we are lowering the fed funds rate at the...

Last Week The stock market posted its best week since late June, driven by solid quarterly earnings and the prospect of lower interest rates. Following another series of beats across multiple sectors, the growth rate for S&P 500 earnings increased from 10.3% to...

Last Week Corporate earnings reports were solid, but the news flow on tariffs, the jobs market, and the Fed soured the mood on Wall Street, leading to a down week for stocks. The S&P 500 shed 2.4%, the Nasdaq Composite slipped 2.2%, and the Russell 2000 slid 4.2%....