Market Commentary

Market Commentary: As Goes January, So Goes the Year

Last week the stock market rally continued, with various sectors showing renewed strength. This time a year ago, defensive areas, such as utilities, consumer staples, and health care, were leading. That was a warning sign, and it sure turned out something was wrong. Today small-caps, cyclic …

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Market Commentary: Supply Issues and Delta Variant Slow Economic Growth to 2%

U.S. GDP grew at an annualized pace of just 2% last quarter, a marked slowdown from last quarter’s 6.7% (Figure 1). Contracted auto production sliced around 2% off growth, and concerns over the Delta variant slowed demand and the return of workers to the labor force. Third quarter growth d …

Market Commentary: Amid Strong Start to Earnings Season, 30% of S&P 500 Will Report This Week

Thirty percent of the S&P 500 will report third quarter earnings this week. Based on earnings already in and analyst expectations, earnings are expected to grow 32.7% compared to last year as corporations continue to bounce back from a COVID-led earnings decline.

Market Commentary: 4.3 Million Quit Their Jobs in August; Rise in Retail Sales Beats Expectations

Three economic data points released last week indicated the economy continues to rebound despite lingering challenges from the Delta variant. Job openings, which lag other measures by one month, fell to 10.4 million. Declines in demand for leisure and hospitality jobs pulled the openings ba …

Market Commentary: Unemployment Falls to 4.8%; U.S. Trade Deficit Hits Record

For the second consecutive month, the U.S. job market created far fewer jobs than expected. September’s report showed only 194,000 jobs were created, missing expectations by nearly 300,000. A deeper look at the data shows the report wasn’t as bad as indicated by the overall number.

Market Commentary: Equity Markets Have Worst Month of Year; Virus Variants, China Among Key Risks

Equity markets struggled in September as interest rates, inflation concerns, and developments in China all weighed on stock market averages. The S&P 500 surrendered 4.7% as large-cap growth companies led the market lower. Large-cap growth has been the top performing style box since the …

Market Commentary: Fed Leaves Rates Unchanged, Could Begin Tapering of Asset Purchases this Year

The Federal Reserve met last week, and Chair Jay Powell indicated tapering this year is more likely than not. The decision on when to reduce the central bank’s purchases of government-backed bonds will likely be affected by the employment report released a week from Friday. If labor market …

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Market Commentary

Market Commentary: As Goes January, So Goes the Year

Market Commentary: Supply Issues and Delta Variant Slow Economic Growth to 2%

Market Commentary: Amid Strong Start to Earnings Season, 30% of S&P 500 Will Report This Week

Market Commentary: 4.3 Million Quit Their Jobs in August; Rise in Retail Sales Beats Expectations

Market Commentary: Unemployment Falls to 4.8%; U.S. Trade Deficit Hits Record

Market Commentary: Equity Markets Have Worst Month of Year; Virus Variants, China Among Key Risks

Market Commentary: Fed Leaves Rates Unchanged, Could Begin Tapering of Asset Purchases this Year

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