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Weekly Market Commentary – The 1987 Crash: A Not So Happy Anniversary

Weekly Market Commentary – The 1987 Crash: A Not So Happy Anniversary

  Though charts comparing 1987 to 2017 look similar, gains leading up to 1987 were much stronger. We believe that the stock market is standing on a much stronger fundamental foundation today, making another crash appear unlikely. As we reflect on this anniversary, let’s appreciate this bull market but not get complacent. Market events don’t […]

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Weekly Market Commentary – Third Quarter 2017 Earnings Preview; Slower But Still Solid

Weekly Market Commentary – Third Quarter 2017 Earnings Preview; Slower But Still Solid

  We expect another solid quarter of earnings growth, but a third straight double-digit increase for S&P 500 profits appears unlikely. Hurricane impacts, tougher comparisons, and a lack of contribution beyond technology and energy present earnings growth headwinds. Hurricane impacts aside, we have several reasons to be optimistic, including solid manufacturing data, recent U.S. dollar […]

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Weekly Market Commentary – Markets Buying Into Tax Reform

Weekly Market Commentary – Markets Buying Into Tax Reform

  Last week’s tax framework from Republican policymakers could pave the way for a budget resolution. Although the proposal lacks details and negotiations will be difficult, we continue to believe tax reform is more likely than not. Markets have become more optimistic in recent weeks that a deal will be reached based on several market-based […]

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Weekly Market Commentary – The Bull Market Appears Alive and Well

Weekly Market Commentary – The Bull Market Appears Alive and Well

  Long-term technical indicators on equities continue to look strong. This is currently the second longest streak without a 3% correction for the S&P 500, suggesting volatility could come at any time. Overall market sentiment continues to suggest that equity prices aren’t near a major peak.     THE BULL MARKET APPEARS ALIVE AND WELL […]

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Weekly Market Commentary – Update on Growth and Value Stocks

Weekly Market Commentary – Update on Growth and Value Stocks

Growth stock valuations appear rich; its run may be poised to pause or reverse. Economic growth is improving, which tends to favor value. Technical analysis suggests that the growth rally may be overextended.   UPDATE ON GROWTH AND VALUE STOCKS Growth has been on a roll. Based on the Russell 3000 style indexes, growth’s 18% […]

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Weekly Market Commentary – Strong European Earnings Are Keeping Europe Cheap

Weekly Market Commentary – Strong European Earnings Are Keeping Europe Cheap

  After years of disappointment, European earnings have been solid. Stronger earnings may have changed the valuation equation with respect to global asset allocation. Currency still matters, both for corporate earnings as well as for translation into dollars for U.S. investors.     STRONG EUROPEAN EARNINGS ARE KEEPING EUROPE CHEAP After years of diminished earnings […]

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Weekly Market Commentary ~ Putting The North Korean Threat Into Perspective

Weekly Market Commentary ~ Putting The North Korean Threat Into Perspective

  Investors have understandably become increasingly concerned amid escalating North Korean threats. As scary as the threat may be, history suggests that stock market reactions to similar events have been short lived. While we are all hoping for a peaceful resolution, military conflicts do carry the potential to unify policymakers. PUTTING THE NORTH KOREAN THREAT […]

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Weekly Market Commentary – Corporate Beige Book: Upbeat As Expected

Weekly Market Commentary – Corporate Beige Book: Upbeat As Expected

  Based on the Corporate Beige Book Barometer, companies remained generally upbeat during the second quarter earnings season. The number of mentions of the Trump administration in earnings conference calls has dropped substantially over the past two quarters. The positive tone from management teams appears to support a positive outlook for continued earnings gains. CORPORATE […]

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Weekly Market Commentary – Taking A Little Risk Off The Table.

Weekly Market Commentary – Taking A Little Risk Off The Table.

  While we do not believe the bull market is over, we do believe investors should consider taking some equity risk off the table. Risks have begun to stack up and the risk-reward trade-off has become a bit less favorable. The longer-term outlook still looks good — we see no recession on the horizon and […]

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Weekly Market Commentary – Bottom Line: Impressive Earnings Season

Weekly Market Commentary – Bottom Line: Impressive Earnings Season

  Corporate America has delivered double-digit earnings growth for the second consecutive quarter with solid upside to forecasts. The breadth of earnings gains and magnitude of upside to revenue forecasts have been impressive, with generally upbeat management outlooks. Strong earnings continue to provide support for the stock market even at elevated valuations. BOTTOM LINE: IMPRESSIVE […]

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