Market Commentary: Sideways but Crazy

If you looked only at the starting and ending value of the markets for the first quarter in 2014, you might assume that it was a calm 3-months that consisted of sideways movement, and in the end provided a small positive return; the S&P 500 gained 1.3% in the first quarter as it reached a [...]

April 15th, 2014|

2014: Where are we headed?

This past year taught me that the investment markets can stay irrational way longer than many would have imagined; you’d be hard pressed to find any analyst or market pundit who predicted double-digit returns for 2013. The reality is that the markets were driven all year by government/central bank intervention across the globe, which is [...]

January 22nd, 2014|

Weekly Market Recap – December 6, 2013

The U.S. economic data pipeline was full this week, offering a handful of data releases. The majority of releases were ahead of consensus expectations, affirming the U.S. economy held its own during the government shutdown and beyond. Non-farm payroll report was the main highlight, delivering a second month of job growth above 200k. The ISM [...]

December 6th, 2013|

Weekly Market Recap – November 29, 2013

Over the next few months, decisions made in Washington will play an outsized role in the outlook for financial markets and the U.S. economy. On Capitol Hill, the House-Senate budget conference committee is in negotiations on a deal to fund the government and reduce automatic spending cuts. A few blocks away, the Federal Reserve is [...]

November 29th, 2013|

Weekly Market Recap – November 22, 2013

U.S. equity markets have paired the losses they sustained earlier in the week, as data showed weekly jobless claims fell to their lowest level since September and optimism flowed from ongoing fiscal negotiations in Washington. The S&P 500 ended the week above 1,800 points and the Dow average has climbed above 16,000 for the first [...]

November 22nd, 2013|

Weekly Market Recap – November 15, 2013

It was a relatively quiet week on the U.S. data front, with the only notable releases being September international trade and the wholesale inventory report. International trade surprised to the downside – with the trade deficit widening to $41.8 billion – while inventories posted a sizeable monthly gain of 0.4%. Weaker third quarter economic growth [...]

November 15th, 2013|

Market Commentary: Crisis Averted

The US Markets had a slight pullback in the final week of the month, but finished October overall with solid gains. The highlights of the month were once again centered on politics and the Federal Reserve. The global economy collectively breathed another sigh of relief on October 16th. With less than 24 hours before the [...]

November 12th, 2013|

October Market Commentary

The 3rd quarter ended with the global markets – both equities and fixed income – experiencing gains. The news has been dominated lately by the government shutdown and debt ceiling headlines. Even though the political jabs, finger pointing and the like make for good theater, the chart below, at least, tells us what will happen [...]

October 16th, 2013|

Parsing the Fed Talk

The September Market Commentary was delayed by a week so that we could provide you with our comments about the important events that took place last week; specifically, Larry Summers removed himself from contention to be the next Federal Reserve Chairman at the beginning of the week, and the Federal Reserve released notes last Wednesday [...]

September 25th, 2013|

What’s driving the S&P 500?

U.S. stocks resumed their positive streak in July (after a slightly negative June). Large-cap stocks rose in three out of the four weeks and were up 5% for the month. Smaller companies generally outperformed their larger-cap counterparts. After Federal Reserve comments regarding the timing of its stimulus withdrawal upset markets in May and June (particularly [...]

August 14th, 2013|