Investment Management

Market Updates

Fed Week-Groundhog Day

May 9, 2022

Last week was a replay of the prior week as equity markets sold off Thursday and Friday and global markets reopened post Fed meeting.  Believe it or not it was almost a flat to up week, but the last hour of Friday’s trading pushed us net lower for the week. Apparently, some leveraged investors were…

April Showers – Nowhere to Hide

May 2, 2022

Equity markets sold off late in the week in a linear manner closing the week, month, and year to Date on their lows.  China lockdowns, a late in the week piece of wage inflation, and a couple of mega-cap tech stock causing summer slowdown estimate cuts were the main culprits. These all point to slowing…

Fed Talks Cause “Collateral Damage”

April 25, 2022

Equity markets slumped late last week, and the story remains the same. Hawkish policymakers cranked up their rhetoric into their own quite period which begins this week and lasts through May 4th.  On the week, the S&P 500 fell -2.8%, with only consumer staples and banks positive. On Thursday last week, with the Fed heading…

Earnings and Buy Backs Forthcoming

April 18, 2022

The overall S&P500 dropped a bit over -2% during last weeks holiday shortened and lower liquidity pre-Easter 3-day weekend.  It sits down around -8.5% year to date.  The tech heavy NASDAQ dropped almost -4%.  Rising long-term Treasury yields, with the 10-year rate reaching 2.85% last week, which directly create rising real estate mortgage rates, have…

Deadzone Before Earnings and Buybacks

April 11, 2022

Starting out the second quarter on a down note, we are in the “deadzone” for corporate information and stock buybacks.  The S&P fell -1.3% last week with technology and consumer discretionary down the most.  “Boring” healthcare, staples and utilities all rose on the week.  Market volatility combined with rapid sector rotation has put a premium…

New Quarter, More Volatility

April 4, 2022

Last week, the three major U.S. stock markets were mostly little changed.  The moves on the week had the Dow -0.1%, S&P 500 +0.1%, and NASDAQ Composite +0.7%.  Last week, the yield curve flattened and finally inverted with 2s topping 10s marginally.  The doomsayers of this forward indicator of future recessions, came out of the…

Bear Trap?

March 28, 2022

Against the backdrop of very negative investor sentiment, hedge fund positioning, and the ongoing Russia/Ukraine war, on Friday March 11th, we covered some early “optimism indicators” with the S&P 500 at 4185. One of these indicators we discussed was the need for a follow through “breadth thrust” where the number of gaining stocks far exceeds…

Breadth Thrusts

March 21, 2022

Against the backdrop of very negative investor sentiment, and hedge fund positioning into an option expiration week Friday, the three major U.S. stock markets ripped higher.  On the week, the Dow rallied 5.5%, S&P500 over 6%, and the NASDAQ rallied 8.2%.  This was the markets best week since November 2020 which marked the pivot higher…

More Volatility…BUT

March 14, 2022

Equity markets continued their volatile trading last week amid ongoing geopolitical uncertainty caused by Russia invading Ukraine, the economic slowdown it will likely cause, and the commodity cost push it will have on prices this summer.  A wild ride for oil prices amid ongoing uncertainty in Ukraine created even more pressure on a market grasping…

Equity Markets Continue Volatile Trading

March 7, 2022

Equity markets continued their volatile trading last week amid ongoing geopolitical uncertainty caused by Russia invading Ukraine, the economic slowdown it will likely cause, and the commodity cost push it will have on prices this summer. The S&P 500 dropped -1.6% on the week, with strength in defense companies, energy, REIT’s, rails, and utilities marginally…