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:
Market Soars on Dovishness
Powell's Policy Persists On Friday, at the Jackson Hole Economic Symposium, Chairman Powell delivered the message that whereas tapering is coming, the Delta variant makes the timing uncertain. He also made it clear that the plan to taper does not suggest that any...
Signs of Strength
Currency, Covid, Chaos, and (Yes) Catalysts In a week of troubling headlines, we take notice that the Dollar reached its highest level of 2021. We monitor the strength of the greenback as a proxy for the world’s perception of the attractiveness and safety of U.S....
Confidence Crackdown
'Stunning Loss of Confidence' So far 2021 has provided an incredibly smooth ride for investors, but the news flow last week suggested some turbulence on the horizon. The Delta Covid-19 variant cases and deaths surged, both consumer and producer prices spiked, consumer...
Two Out Of Three
What You Need to Know Reflecting on the major market-moving storylines, the classic 1977 Meatloaf song, “Two Out of Three Ain’t Bad” comes to mind: (1) corporate earnings were great; (2) the jobs report was very strong; and (3) BUT sadly Covid-19 cases are surging. On...
Bubbles Deflate
Corporate Earnings Going for Gold; Economic Data Reaches for Silver February 17th is a special day; in that, it is the birthday of both Michael Jordan and my wife. It also marked the top of the Chinese stock market, which has subsequently nosedived over 25%, including...
Fear Falters
Never-Ending Rally Back on Track Despite the scary headlines, the “Fear Index” continues to falter. We concluded last week’s commentary noting that “U.S. stock futures followed the global markets lower over the weekend, and the “Fear Index” (VIX) jumped 6% going into...
Headwinds
Last Week: Whereas the major headline indexes set record highs again on Monday, the undertone of the market continues to soften, with declining issues increasingly outnumbering advancing issues. In fact, excluding the Fab FAANG Five (Facebook, Apple, Amazon, Netflix,...
Won’t Back Down
Last Week: Early in the week, the market was singing “Mama Mia, here I go again!”, as COVID-19 resurfaced. Those fears were particularly apparent on Thursday when Japan declared a state of emergency and announced there would be no spectators at the Summer Olympics. On...
Bossy Big Caps & Moody Small Caps
Last Week: We hope that everyone enjoyed their holiday weekend. One highlight at North Star was watching Joey Chestnut break his own world record at the annual Nathan’s Hot Dog Eating Contest on July 4th after devouring his 76th hot dog and bun in front of a packed...
Getting Better
Last Week: What a difference a weekend makes. The selling pressure from the previous Friday vanished into thin air, and a bounce-back rally kicked in on Monday morning that continued throughout the week. The S&P 500 closed Friday at another record high, posting...
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Market Commentary by Eric Kuby, Chief Investment Officer of North Star Investment Management