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:
Dovish Drift
Last Week Trading volume was extremely heavy thanks to Friday’s “triple witching,” with a massive $5.5 trillion of options expiring. Additional activity was driven by the annual index rebalancing, in which increased weightings reward the top-performing stocks from the...
Dissonance and More Dispersion
Last Week The songs remained the same, with mega-cap momentum stocks blasting another round of “We Are the Champions,” while the small and mid-caps lamented in “When Will I Be Loved.” The dissonance between the economic data and the FOMC statement was as deafening as...
Big 3 Stay Hot
Last Week Over the decades many championship basketball teams have been built on a “Big 3” superstars foundation. As Chicago sports fans we would highlight Jordan, Pippen, and Rodman, of the 95-98 Bulls as a prime example although there have been other (less lovable)...
Broadly Better
Last Week Following the pattern from the previous week, gains in a narrow band of mega-cap momentum stocks masked underlying weakness in the broader market on Tuesday to kick off the holiday-shortened trading week. The mood worsened on Wednesday as hawkish Fedspeak...
Softer Below the Surface
Last Week On the surface, the stock market rally continued with the S&P 500 fractionally higher to cap on a five-week win streak, its longest such run since early February. However, peeling back the onion skin reveals weakness across all equities industry sectors...
40,000 and Rising
Last Week Traders on the NYSE floor could don their Dow 40,000 hats as Wall Street enjoyed another record-breaking week. The most significant market-moving news came on Wednesday with the release of the consumer price index for April. The data showed an increase at a...
May Flowers Following April Showers
Last Week The market rebound continued for the third straight week, erasing almost all of April's losses. Earnings season provided reason for optimism, as composite growth for the first quarter increased to +5.4% from +5.0% the previous week and the estimate of +3.4%...
Nothing Else Matters
Last Week A pair of “magnificent” earnings reports, somewhat dovish Fedspeak, and soft jobs data combined to form a winning hand for Wall Street. Following volatile trading Monday through Thursday, a powerful rally on Friday moved all the equity markets out of the red...
Correction, or No Correction
Last Week “Another Pullback” would have been a better title for our last commentary, rather than “Enter the Correction,” which proved premature as the market resumed its steady climb. In trader parlance, a “correction" is defined as a decline of 10%, and in this...
Enter the Correction
Last Week The stock market remained under pressure, with the S&P 500 extending its losing streak to six consecutive trading days on Friday while posting its worst weekly performance in over a year. The decline moved the index into correction territory, down over...
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The North Star InvestCast aims to guide investors on actionable insights in the securities markets. Hosted by Eric Kuby, Chief Investment Officer of North Star Investment Management Corp.