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Weekly Market Updates

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Weekly Market Update with Chris Perras. Weekend Update 6/10/2024

Weekend Update, June 10th, 2024

Index, Sector & Asset Performance The S&P 500 gained +1.3% last week, led by technology and health care stocks., The index closed just off a new record high, along with the Nasdaq. The S&P 500 is now up a bit over +12% in 2024. Energy and materials stocks lagged during…

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Weekly Market Update with Chris Perras. Weekend Update 6-3-2024 with city scene in background.

Weekend Update, June 3rd, 2024

Index, Sector & Asset Performance Equity markets fell last week with some poor earnings mixed in with ok to weaker economic data. The S&P 500 fell -0.5%, with technology and industrials down on the week. Energy and utility stocks outperformed in the week as a late week rally in real…

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Weekly Market Update with Chris Perras Weekend Update 5/28/24.

Weekend Update, May 28th, 2024

Index, Sector & Asset Performance Equity markets were mostly flat last week. The S&P 500 was flat while our friends to the north in Canada dropped – 0.6% due to those markets’ reliance on energy and commodity stocks. Post the Memorial Day weekend, equities are mostly sitting near record highs…

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Weekly Market Update with Chris Perras. Weekend Update 5/20/2024.

Weekend Update, May 20th, 2024

Index, Sector & Asset Performance Equity markets were mostly higher last week. The S&P 500 climbed +1.5%, while Nasdaq led with a +2.1% increase. The gains saw the S&P 500 hit another new all-time high, while the Dow pushed above 40,000. Gains in tech, materials and banks led sector performance…

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Weekly Market Update. All Time Highs Back in Sight. 5-13-2024

All-Time Highs Back in Sight

US stocks (S&P 500) jumped +1.9% last week to within reach (0.6%) of its March record high on solid earnings releases. It was a global rally as European equities led the gains up +3%, while YTD leader Japan fell on the week. “Boring” and slower growth utilities and staples led…

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Oak Harvest: Weekend Update Inflation and Real Interest Rates Peak? 5/6/24

Inflation and Real Interest Rates Peak?

US stocks rose, led by technology, after the Federal Reserve announced no change to key interest rates at the May meeting but announced its intentions to slow its quantitative tightening (QT) of its balance sheet. Powell also reiterated the central bank’s overall confidence and its base view that inflation is…

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Oversold Earnings Bounce into Seasonally Weak May

After selling off -5% during the first 3 weeks of April, the S&P 500 rebounded +2.7% last week, in its normal seasonal timing, on strong earnings by technology stocks.  Economic data junkies got some relief that PCE inflation data series wasn’t higher than feared in March. Interest rates are also…

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Oak Harvest: Weekend Update Seasonal Weakness Hits 4/22/24

Seasonal Weakness Hits

Equity markets continued their weak month of April last week with the S&P 500 approaching a -5% fall from its late March ATH’s.  The S&P 500 fell -3.2% by last Friday on the week, with technology, consumer discretionary and communication services posting the biggest declines alongside some steep selloffs from…

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Tax Man and Seasonality Cometh

Tax Man and Seasonality Cometh

Stocks and bonds dropped last week, mainly on Friday, giving us our worst week in months and the Dow and S&P 500’s worst week of the year.  On Friday alone, the Dow Jones Industrial Average fell by -1.2%, the S&P 500 dropped -1.5%, the Nasdaq Composite decreased by -1.6%, and…

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1q24 EPS Reports Begin

Sitting in the heart of the quite period, equities broadly struggled to overcome higher long-term interest rates. The S&P 500 dropped –0.95% on the week.  This was its worst week since the beginning of the year. Strong economic data sent most interest rate maturities higher.  Rate-sensitive defensive areas like real…

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New Beginnings: 2nd Quarter

While U.S. stocks were mixed last week, the S&P 500 ended the first quarter of 2024 up slightly over +10%. Performance was quite concentrated with only five stocks driving half the gain, and NVDA (up over +80%) accounting for a quarter of the indexes return by itself. Small caps, as…

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Powell Drops the Mic

Markets were weak ahead of last week’s FOMC meeting, as many investors expected the Fed to turn hawkish on Wednesday. Fed Chairman, Jerome Powell, surprised both bulls and bears by keeping 3 rate cuts on the table for 2024, downplaying the risk of an inflation reacceleration, and bringi9ng his concerns about…

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