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Category: Market

106 posts categorized as "Market"

The Good, The Bad, The Fed

Jul 19, 2021

By Jack Kraft, Advisor Directed Portfolio Analyst

Wall Street had no shortage of market moving news last week with choppy trading whipsawing the major averages from positive to negative territory. Ultimately, stocks struggled to find direction despite a strong Monday session that pushed equity markets to record levels. Through Monday the S&P 500 had clocked its 39th all-time high on the year. This pace of record highs puts the broad index on course for its best run in 26 years,

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The Scene of the Climb

Jul 12, 2021

By Pete Biebel, Senior Vice President

We don’t need a detective to explain how well the U.S. stock market has rewarded investors in recent months. We’ve all witnessed the progression of record highs in the major averages. The footprints in that track higher show evidence of just two brief stumbles that arrested headway along the path, one of which came just last week.

The averages were flat-ish through the first two sessions of the week,

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Bridge Over Troubled Waters

Jun 28, 2021

By Pete Biebel, Senior Vice President

The market was more than a little troubled after the Fed meeting a week-and-a-half ago. The sudden new possibility that the Fed might be forced into tightening its monetary policies sooner than advertised roiled the waters. The Thursday/Friday loss late that week resulted in the Dow Jones Industrial Average (DJIA) and the S&P 500 Index (SPX) having their worst week in months.

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In A World…Where Interest Rates Go Up

Jun 21, 2021

By Ben Norris, Securities Research Analyst, Associate Vice President

Last week featured a consequential update from the Federal Reserve. The central bank has been the center of attention for investors (even more than normal) for most of 2021 as they wait for a potential tightening of monetary policy. As expected, the Fed decided to keep rates where they are for the time being but are beginning to telegraph a world where interest rates will be higher and the asset purchases by the bank will be lower.

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What, Me Worry?

Jun 14, 2021

By Pete Biebel, Senior Vice President

Through the winter months, the bond market exhibited obvious and increasing concern about the threat of inflation. In February and March, the yield on the benchmark 10-Year Treasury Notes rocketed higher from 1.00% to a bit over 1.75%. That was a huge increase in just two months-time, and the impact of the suddenly higher rates was clearly visible in the tumbling prices of growth stocks as well as in the new-found strength in “value” stocks,

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If the Shoe Fits…

Jun 7, 2021

By Pete Biebel, Senior Vice President

One old idiom that seems to be a good fit for the market’s current state of mind is “waiting for the other shoe to drop.” That saying apparently dates back to the early 1900s and originated in boarding and rooming houses of the time. When an upstairs neighbor dropped one of their shoes, a second unwelcome thump was sure to follow. The implication of that mindset is that an expected and inevitable event is about to occur;

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One Step Forward, Two Steps Back

May 24, 2021

By Ben Norris, Securities Research Analyst, Associate Vice President

Trading last week was oddly similar to the week prior, with markets suffering losses early in the week before eventually recovering some ground on Thursday and Friday. Wednesday was the outcast of the week, as the session that showed the most significant volatility, trading down sharply at the open and slightly trimming losses by the closing bell. By Wednesday afternoon the S&P 500 (SPX) and Dow Jones Industrial Average (DJIA) were down roughly 1.5% while the NASDAQ Composite Index was down around 1%.

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Objects in the Mirror May be Larger Than They Appear

May 17, 2021

By Pete Biebel, Senior Vice President

On Thursday and Friday, as the market drove up and away from the early week carnage, it could look back at the damage and be thankful that it hadn’t gotten any worse. Through late-Wednesday, the S&P 500 Index (SPX) was already showing a 4% loss for the week. The NASDAQ Composite Index (COMP) was down about 5 ½% at that point, and the Russell 2000 Index of small-cap stocks (RUT) was in the hole by more than 6%.

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Come Churchill Downs Off Your High Horse

May 10, 2021

By Ben Norris, Securities Research Analyst, Associate Vice President

If you follow horse racing or if you’re a gambler, you’ve probably heard the news. Medina Spirit, winner of the Kentucky Derby, has reportedly tested positive for a banned performance enhancing drug. If the test is confirmed, then Medina Spirit will have its title stripped and the crown will go to the runner-up, Mandaloun. This is a relatively shocking development for the Kentucky Derby given that just two horses have been disqualified in the nearly 150-year history of the race.

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The Secret’s Out

May 3, 2021

By Pete Biebel, Senior Vice President

Have you heard? Economic activity is accelerating. People are spending money again. Unemployed workers are finding jobs. Restaurants, bars and sports arenas are packing in the patrons. Vaccinated people are hugging one another. Happy days are here again. So why did the market just have its dullest week of the year?

It’s true, in a week that featured an FOMC policy statement,

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