Last Week: The good news of corporate earnings for the fourth quarter of 2019 exceeding forecasts was overshadowed by concerns over the impact of the coronavirus on future earnings. Estimates of first quarter earnings growth have been slashed approximately in half so...
Last Week: The rally resumed as the S&P 500 gained 1.58% to close at another new record high. Most of the action took place on Monday and the first hour of trading on Tuesday, as stocks recovered their losses from the previous Friday and then tacked on an...
Last Week: Fortunately we don’t need to repeat the repeat of “Rally Interrupted”, as the market posted its best performance since November 2018 as the S&P 500 jumped 3.2% and the Nasdaq composite surged 4%. As is often the case, there was good, bad, and ugly news...
Last Week: I could just repost last week’s commentary and just change the specific numbers as the storyline was essentially a rerun. In fact, I will: The stock market party was disrupted as the Coronavirus upset the apple cart. Corporate earnings reports were strong...
Last Week: The stock market party was disrupted as the Coronavirus upset the apple cart. Corporate earnings reports were strong and interest rates moved lower, but the S&P 500 declined 1.03% and the Russell 2000 fell 2.2%. It was the biggest one-week drop in the...
Last Week: President Donald Trump and Chinese Vice Premier Liu He finally signed a phase-one trade deal on Wednesday. The eight-part deal includes protections for trade secrets and intellectual property, mechanisms for enforceability, and commitments by Beijing to...
Last Week: P=MV P=Momentum M=Mass V=Velocity The S&P 500 set another record on Thursday, as the upward momentum powered stocks through the destabilizing news flow from the Middle East. A minor sell-off on Friday following a tepid jobs report left the S&P 500...
Last Week: The economic trends remained in place as 2019 wrapped up as the number of Americans who applied for unemployment benefits at the end of 2019 fell slightly, showing the pace of layoffs in the U.S. remains near a half-century low. Initial jobless claims...
Last Week: The S&P 500 inched up 0.58% on extremely light volume to close at another record high. Small and Mid cap stocks drifted fractionally lower, and the yield on the Ten-Year Treasury slipped 5 basis points to 1.87%. There were a few reasons for good cheer....
Last Week: The FOMOTINA Rally (Fear of Missing Out There Is No Alternative) kicked into high gear, with U.S. stocks hitting record closing highs again on Friday and the S&P 500 registering a 1.65% gain, its biggest weekly rise since early September. The rally was...
Last Week: The three big storylines of 2019, Trade, Brexit, and the Fed, were all at play, but generally were met with a muted response, suggesting the script writers need some new material to engage traders in 2020. The market drifted lower through Wednesday as...
Last Week: We concluded last week’s blog saying “Friday is a big day for economic releases with the November nonfarm payrolls and the University of Michigan Consumer Sentiment Index scheduled to be reported. The stock market party will probably rage on as long as...
Last Week: The market climbed to new highs early in the week as trade deal optimism grew after China indicated that it was taking steps to tighten intellectual property rules. The Bears took over later in the week (Chicago Bears 24, Detroit Lions 20 on Thanksgiving)...
Last Week: All was quiet on the Wall Street front. The S&P 500 slipped 0.33% to break its six week winning streak, as reasonably good consumer reports offset modestly negative trade headlines. During that winning streak the market exhibited a remarkable absence of...
Last Week: TKIF! (Thank Kudlow It’s Friday) The market drifted through Thursday’s close, as investors slumbered through a mixed bag of economic reports and earnings releases, an escalation of unrest in Hong Kong, a clear message that interest rate policy is on hold...
Last Week: It was a pretty quiet news week, as the Wall Street Bears remained in hibernation, while the Chicago Bears emerged (a win is a win). As we moved into the ninth inning of earnings season, the blended (combines actual results for companies that have reported...
Last Week: Despite a mixed bag of news, investors were treated to a Halloween rally that saw the S&P 500 gain 1.47% to set a new record high. The yield on the Ten-Year Treasury trickled down 7 basis points to 1.73% and the U.S. Dollar held steady. Apparently the...
Last Week: The market rallied towards record highs as the corporate earnings, trade, and Fed headlines were all somewhat sanguine. Corporate earnings continued to modestly exceed the low bar that was set for the third quarter, as the blended (combines actual results...
Last Week: The Good: Third quarter corporate earnings are off to a handsome start, with more than 14% of S&P 500 companies having reported through Friday, FactSet data shows that 81% posted earnings that beat analyst expectations. To be sure, the companies are...
Last Week: In the summer of 1983, while I was preparing to enter the training program at Drexel Burnham Lambert, the hilarious comedy “Trading Places” was released. The climax of the movie is the year-end release of the USDA report on the orange crop forecast, as all...
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