Quick Takes For a second straight week, market leadership shifted from large cap and growth stocks to small cap and value stocks. The S&P 500 had its worst week since April 19, falling -2.0%, and the tech-heavy Nasdaq Composite was down -3.7%, while the Russell...
Quick Takes Last week was marked by a rather sudden and sharp trend reversal on Thursday. Large cap and growth stocks have dominated small cap and value stocks for more than a year, but that reversed abruptly last week with big outperformance by small cap and value...
Key Points HERE WE GO AGAIN – The Magnificent 7 are back and stronger than ever. Apple, Amazon, Alphabet (Google), Meta Platforms (Facebook), Microsoft, NVIDIA, and Tesla are once again collectively, and almost solely, driving equity returns. In the first half...
Quick Takes Major stock indices were mostly higher in a quiet, holiday-shortened week. The S&P 500 and Nasdaq finished at record highs, up 2.0% and +3.5%, respectively. However, the small cap Russell 2000 slipped -1.0%, and value indices fell as well. Hopes for...
Quick Takes In a mostly quiet week of news and trading, most stocks saw slight gains. The S&P 500, Nasdaq, and Russell 2000 saw gains of +0.3%, +1.0%, and +0.8%, respectively. Overseas, stocks were mixed, with the MSCI EAFE up +0.3% while the MSCI Emerging Markets...
Quick Takes It was a give-and-take week for U.S. stocks as the S&P 500 and Nasdaq opened the week with two days of fresh record highs, then dropped the final two days of the week with losses. Still, the S&P was able to keep a three-week win streak, but the...
Quick Takes The theme for the week was easing inflation, as several inflation reports came in below Wall Street expectations. Consumer prices, wholesale prices, and import prices were all lower than expected. At the same time, however, Fed policy makers indicated a...
Quick Takes Last week’s economic data was mostly disappointing, but on Friday morning, the Labor Department reported an unexpectedly strong addition of 272,000 new Nonfarm Payrolls in May, as well as higher than expected Wage growth. The strong jobs data caused yields...
Key Points HAVE YOUR CAKE AND EAT IT TOO – Virtually all major asset classes saw healthy gains in May that largely reversed the broad-based losses experienced in April. Investors interpreted weaker-than-expected economic reports throughout the month as ‘bad news...
Quick Takes The holiday-shortened week was relatively uneventful with respect to economic data and saw stocks reverse some of the bigger trends for much of May while bonds were mixed but mostly flat. The Core version of the Personal Consumption Expenditure (PCE) price...
