Investment Management

Market Update: Equities pullback, but economic recovery should gain speed. Global equities were down across the board last week with the NASDAQ (-4.9%) leading the way. Most sectors were in the red with the biggest losses in health care (-8.2%) and tech (-8.1%). Gains in banks (+1.5%) and consumer discretionary…

Market Update: U.S. economic figures surge with real growth. Inflation is cyclical. The S&P 500 futures are pointing 0.7% lower after the index fell a similar amount last week on concern about higher interest rates with almost all TV “pundits” discussing inflation concerns. After jumping 13 bps last week, the…

Market Update: Precedented. The S&P 500 rose 4.6% to new highs in its largest weekly advance since November amid positive earnings results, easing Covid constraints, falling virus caseloads, improved economic data and the potential for much more fiscal stimulus. Long-term interest rates continue to rise. The 10-year rate rose last…

2021-02-01 Market Update, by Chris Perras. Sideshow Bob – GME, BB, BBBY, AMC Equity markets were down last week, starting strong but reversing Wednesday on increased volatility caused by hedge fund delivering due to raids on their short positions including GME (GameStop), AMC (AMC Entertainment), BBBY (Bed Bath), and BB…

2021-01-25 Market Update. Equity markets were mixed last week, starting strong but wobbling into the weekend. Concerns about COVID-related lockdowns and the effectiveness of vaccines against new strains of the virus slowed overall gains. The S&P 500 rose 1.9%, led by telecom and technology, while banks slumped. The Nasdaq led…

2021-01-18 Market Update. U.S. markets are closed for the Martin Luther King Jr. Day holiday. The S&P 500 fell 1.5% last week on weaker economic data (initial jobless claims by +181,00 incrementally last week and retail sales missed forecasts) and equity hedging in front of this week’s Inauguration Day on…

2021-01-11 Market Update. In a choppy week highlighted by stronger economic data and additional political turmoil in Washington DC, the S&P500 closed at a new all-time high of 3825. Equity markets rose this week alongside surprise Democrat victories in the Georgia Senate runoff votes. The S&P 500 rose 1.8%, led…

2020-01-04 Market Update. In another abbreviated holiday week, the S&P 500 closed at a new all-time high of 3756. Most financial news outlets are now parroting the same two negatively tilted taglines: 1) the global stock indexes are overbought, 2) the uncertainty of the Georgia Senate elections. Bull market First,…

Market Update, 2020-12-28: Not overbought. In last week’s abbreviated holiday week, the S&P 500 closed essentially flat.  President Trump weighed in on the second Stimulus Bill, concerned about too-small direct payments to Americans and far too much wasteful spending. Unhelpful news outlets say overbought The vast majority of financial news…

Market Update, 2020-12-21 . Last week, the S&P 500 closed up 1.3%, with the NASDAQ leading the way, up 3%. Late Friday, news on a positive outcome for US bank stock buybacks in Q1 2021 as well as a $900+ billion Covid Round-2 fiscal deal provides hope for a stronger…

2020-01-14 Market Update. The S&P 500 was modestly down last week. Lingering concerns over Brexit, (globally pretty insignificant) and the fate of further U.S. fiscal stimulus caused the SP500 to slip 1%. Tech and banks fell the most as yields rallied early in the week. The first round of COVID vaccines…

Market update 2020-12-07. The S&P 500 advanced 1.7% last week and closed at another record high. It closed just below the 3,700-mark. Nine of the eleven major sectors posted gains. Year to date laggard, energy stocks, lead the way as the yield curve steepened with hopes of more fiscal stimulus….