Investment Management

Weekly Market Updates

08.10.2020 – Market Update

August 10, 2020

Equity markets rose last week, as the economic recovery continues against the almost non-stop drone on TV of dire warnings and outcomes.  Earnings results beat low expectations. Yes, that still counts.  On the earnings front, more than 80% have topped Q2 expectations. What is hot? On-line video games, Apple technology hardware sold through Amazon and…

8/3/2020 – Market Update

August 3, 2020

The U.S. equity market was slightly positive this week as companies continued to report second quarter earnings. 40% of the S&P 500 reported quarterly results with beat rates strong.  Thursday night saw a historic flood of positive reports by technology leaders Facebook, Amazon, and Apple.  Electronic Arts crushed estimates but Google was held back by…

07.27.2020 – Market Update

July 27, 2020

By Chris Perras. Equity markets ended the week mostly lower amid a combination of rising US/China tensions, high COVID virus trends, and a stall in further U.S. fiscal stimulus measures. The S&P 500 fell 0.3% from last Friday’s close with the largest drags coming from the second half of the week selloff in tech and…

07.20.2020 – Market Update

July 20, 2020

The S&P 500 cash index closed last week at 3225, up 1.25% on the week, which was an option expiration week. The S&P price return is now almost flat on the year on a price basis (-.2%), up about +1% year to date including dividends, and up +10.2% year to year (off an easy comp). …

07.13.2020 – Weekly Market Update

July 13, 2020

The S&P500 cash index closed the week at 3180, up almost 1.8% on the week (and now down about 1.5% YTD), as the “summer rally” that 99% of financial commentators on TV have missed since Friday June 26th when many were preaching lower targets, continues. Those calling for “trading ranges” and retesting lows continue to…

07.06.2020 – Market Update

July 6, 2020

By Chris Perras. The S&P500 cash index closed the week at 3130, up almost 4% (and down 3% YTD), from the Friday May 26th close which marks the timing for the normal summer rally. Don’t tell the naysayers of a recovery in the economy and stocks but, in addition to the  Nasdaq finishing at a…

06.29.2020 – Market Update

June 29, 2020

By Chris Perras. The S&P500 cash index closed the week at 3010, down about -2.9% on the week with all that coming on Friday, which was both option expiration and quarterly index rebalancing. Banks and energy were the biggest drags with the yield curve flattening. Short term traders sold cyclical stock.  Equity markets slumped last…

06.22.2020 – Market Update

June 22, 2020

The S&P 500 closed the week at about 3095. Tech and health care were the leaders, while losses in consumer discretionary, energy and financials held the broader index back. A spike in global coronavirus cases weighed on global equity markets earlier last week, however the S&P500 still rose 1.7% by the close Friday. Global equities…

06.15.2020 – This is What Early Bull Market “Dips” Look Like

June 15, 2020

By Chris Perras. The S&P500 index closed the week at 3025 with even the Nasdaq pulling back from last Wednesday’s closing record of above 10,000 to end the week -2.3% lower. The S&P 500 closed the week down 4.8% including Thursdays down 6% one day dump.  Fears of a second wave of the virus finally…

06.08.2020 – 8 Weeks Later: No Depression

June 8, 2020

By Chris Perras. Buoyed by strong weekend money flows into index funds and ETFs, a surprise ECB bond buying program announcement, hedge fund and risk parity mid-week fear of missing out (FOMO), and finally a strong Friday jobs report, (much to the continued dismay on financial TV shows),  the S&P 500 reached its highest level since Feb…