Week in Review: May 1, 2020 It has certainly been interesting times. Confounding most experts, the market roared back in April even as COVID-19 continued to wreak mortal and economic havoc with death tolls rising, stay-in-place orders mostly continuing and millions losing their jobs. After an April that was the best month for the S&P […]
Week in Review: Friday, March 20, 2020
By any measure, it was a very difficult week in the markets – the most volatile ever, for instance. Round the clock coverage of every new infection, every death and every action taken by governments to stem the spread of the virus has been dour and downright scary (not to downplay the true human tragedy […]
Market Update – 3/12/20
Another day, another fearful response to new information – including a disappointing presidential address in terms of providing detail and restoring confidence, more squabbling and name-calling in Congress with little action, suspension of travel from Europe into the US, “Italy closed”, suspension of the NBA and NHL seasons, cancellation of NCAA March Madness, Hollywood royalty […]
Market Update – Some Much Needed Positive Sentiment
It’s been an interesting few days. In our view, based on new information including traffic and pollution readings, China appears to be recovering after the extreme measures taken to curtail the COVID-19 spread. According to CNBC on 3/2/20, “Location technology firm TOMTOM’s traffic index shows congestion levels picked up noticeably in most major cities on […]
2/28/20 Market Update: COVID-19
Thursday was a difficult day within a difficult week. During the day, as markets plummeted, we heard some scary things: Thursday was the biggest single-day point drop in history for the Dow and S&P 500; The last six trading days represented the worst week since October 2008 (Financial Crisis); This correction was the quickest 10% […]
Tech Companies Making Excuses
Over the last few days, as the COVID-19 outbreak has progressed, we have seen some companies reduce their revenue and earnings expectations for the current quarter and some for the current year. Microsoft was the latest after hours today to announce that it would miss its guidance for its Personal Computing Unit due to supply […]
One Reason Why Stocks May Eventually Regain Their Strength – And It’s Not the Fed
The markets finally seemed to grasp the potential severity and negative impact to global growth of the COVID-19 virus – largely all in one day. Maybe it was also a bad Flash Services PMI (Flash U.S. Services Business Activity Index of 49.4) on Friday 2/21, the first contraction reading in four years. Maybe it was […]
After An Incredible Run for Equity Markets, Caution Should Rule the Day
What a run it’s been in the equity markets! Too far, too fast? Possibly. In our view, we need to see solid earnings reports from the 4th quarter 2019 – maybe even some growth – and some enthusiastic guidance for the first quarter of 2020. Frankly, without confirmation from the fundamentals, the tremendous equity performance […]
CEO Exodus — A Foreboding Sign?
So far in 2019, according to Challenger, Gray & Christmas, 1,480 chief executives of US companies of scale (10 employees / in business 2 years) have exited their posts. These numbers are the highest year-to-date through November since the company has been keeping track since 2002. Things seem to have accelerated over the last few […]
Record Highs — Investors Not So Sanguine
While the markets may be at all-time highs, individual investors are abandoning equity funds faster than at any time over the last two decades. According to the Wall Street Journal which utilizes data from Refinitiv Lipper, investors have pulled $221 billion from US stock mutual funds and added $85 billion to US exchange traded funds […]
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