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:
Bad Moody
A Day Late & a Dollar Short The financial markets were in a “blue Moody” with stocks suffering early in the week following the rating agency’s downgrade on 10 regional banks, and bond prices slumping on Friday in response to a stronger-than-expected...
Something is Rotten at Fitchmark
Wild Ride It was a volatile week that finished with equity market index losses after Fitch downgraded its U.S. credit rating below the top AAA level; this launched U.S. Treasury yields on a wild ride that somewhat ironically narrowed the 10-year versus 2-year...
Market Likes the End of Hikes
Monetary Policy and Midpoints The stock market continued to move higher, fueled by economic data that clearly contradicted the doomsday narrative promoted by the inflation and recession fear mongers. The Fed still raised interest rates by another 25 basis points on...
Steady as She Goes
Unchanged and Uninspired There was certainly a lack of consistent direction and movement magnitude across major indices last week. The indexes certainly had mixed results, with the Nasdaq Composite shedding -0.6%, the S&P 500 rising 0.7%, and the Russell 2000...
The Economic Hurricane that Dissipated
Inflation Cooling, Earnings Warming, and Sentiment Heating Up There are hundreds of songs that relate life’s “ups and downs” to the weather. Our favorites cover the spectrum from Bob Dylan’s “Hurricane” to the Allman Brothers Band’s “Blue Skies”. Similarly, the...
Digesting Hot Dogs and Jobs Data
Fireworks and Fed Chirps Unlike Joey Chestnut’s win (he consumed 62 hot dogs en route to his 16th Nathan’s Famous competition win on Fourth of July), the stock market posted a modest loss during the holiday-shortened trading week, as traders digested conflicting...
Rally Finale
Which Camp? The stock market had a strong finish in its final trading week of the first half of the year, with gains of 2.4%, 2.3%, and 3.7% for the S&P 500, Nasdaq Composite, and Russell 2000 respectively. While the Tech sector remained strong, with Apple Inc...
Softening Data and Tightening Talk Cools Rally
Stalled Out The stock market rally stalled during holiday shortened trading, as the indices suffered their worst weekly losses since the collapse of the Silicon Valley Bank in March. Further evidence of a slowing economy combined with the continuous “further...
Pause, Jawbone, Rally
Eleven Straight Months The new bull market got a nice boost from the inflation data with CPI only +0.1% for the month and PPI decelerating even more dramatically to measure only +1.1% for the 12 months ended in May. Producer prices have now been cooling for eleven...
Welcome to the New Bull Market
A New Bull A funny thing happened on our way to the recession; a new bull market developed. It took 248 trading days for the S&P 500 to rise 20% from its bottom, marking the longest bear market since 1948, but on Thursday that threshold was reached, and the new...
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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.