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:
Just Another Manic Monday
Last Week: The “candid and constructive” tweet rally from the previous Friday was short-lived as hopes of a trade deal evaporated by Monday morning after China said it would raise tariffs on U.S. goods and President Trump signed an executive order banning...
Tweeting Away the Complacency
Last Week: “He rocks in the White House all day long Hoppin' and a-boppin' and singing his song All the little traders on Wall Street Love to hear the President go tweet-tweet-tweet” Adapted from the Bobby Day classic “Rockin Robin” These are strange times indeed that...
Be Attentive When Others Are Complacent
Last Week: First quarter corporate earnings continued to hop over the low bar that was set as positive earnings surprises reported by companies in multiple sectors (led by the Health Care sector) were responsible for a decrease in the overall earnings decline to 0.8%...
First Quarter Porridge Warms Up
Last Week: Concerns that the porridge was getting too cold appear to have been unwarranted. The S&P 500 and the Nasdaq Composite hit record highs as strong earnings reports and economic reports fueled investor enthusiasm. Earnings season is about half way over and...
Earnings and Unicorns
Last Week: The headline in “The Trader” section of Barron’s was “The Market Did Nearly Nothing This Week”, as the S&P 500 dipped 0.1% in holiday-shortened trading. What little action there was in the market was focused on the IPOs of “Unicorns” (companies with...
Bull Bear or Tiger
Last Week: The market treaded water until Friday morning, when a flurry of positive news stories invigorated Wall Street. Strong Chinese exports and money supply growth, record earnings form JPMorgan, a well-received DIS streaming analyst meeting, and a big $50B oil...
7 Day Rally
Last Week: The porridge heated up enough to nourish the Goldilocks rally for another week. Stronger than expected economic data from China on Monday and a solid U.S. jobs report on Friday were the bookends to continued perceived progress on the trade front during the...
End of Quarter Lyft
Last Week: The previous Friday the market had dropped sharply as the Ten-Year Treasury rate reach a yield less than the Three-Month Treasury rate, stoking recessionary concerns and triggering sell programs. By Monday afternoon, those concerns were old news, and the...
It’s a Mad Mad Mad Inversion
Last Week: The last six months have certainly been “interesting”. A dramatic rally in January and February recovered about most of the horrific losses of October- December, followed by a brief nasty sell-off to kick off March which quickly reversed into a Mad March...
Mad March Bounce
Last Week: The global bounce-back equity rally resumed, as the S&P 500 posted its best week since November by gaining 2.89%. The narrative remained the same with accommodative monetary policy, subdued inflation, reduced trade tensions, and aggressive stimulus...
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Market Commentary by Eric Kuby, Chief Investment Officer of North Star Investment Management