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:
Friday Fizzle
Walmart Sales Up, Gas Prices Down The stock market rally ran out of steam, as the S&P dropped 1.2%, the Nasdaq declined 2.6%, and the Russell 2000 slid 2.9%. Most of the damage was on Friday, without any specific news to account for the mood swing. Of note, the [...]
Getting Better
The Rally Continues It’s getting better all the time Better (inflation) Better (consumer sentiment) Better (corporate earnings) Stocks rallied for the fourth straight week, with the S&P gaining 3.2%, the Nasdaq advancing 3.1%,and the Russell 2000 surging 4.9%. The party got rolling Wednesday after July’s consumer price index report [...]
Still Hiring, Not Firing
An Economy Off Life-Support After much reflection we have come up with the novel concept that good news is actually good news. On Friday, the Labor Department reported that the U.S. economy added 528,000 jobs in July, more than twice as high as expected, and the unemployment rate ticked [...]
Rate Rise Rally Redux
A Shift Back to Dovish Against the backdrop of the Fed raising rates and a shrinking GDP, the stock market finished July with a flourish as the S&P 500 rallied 4.5%, the Nasdaq gained 4.7%, and the Russell 2000 advanced 4.3%. The Oil and Gas sector was the strongest [...]
It’s an Earnings Thing
Mixed Picture We finally got a break from having the market narrative being dominated by record inflation, the never-ending pandemic, experimental monetary policy, and the tragic war in Ukraine. Instead, the focus was on corporate earnings, with those companies who delivered solid results being rewarded, and those that disappointed [...]
More Tug-of-War
Deep in Oversold Territory There is probably no better analogy for recent financial markets activity than the summertime-classic game of tug-of-war. The main players in this summer picnic classic are: (1) inflation reports and employment reports suggesting robust demand for goods and services that the Fed needs to subdue [...]
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