Stocks were relatively flat last week in the face of weak economic data. Services, manufacturing, and job openings all were weak, but the monthly jobs data (more below) was a bright spot. Still, in the face of slowing economic reports, we were impressed stocks were able to hold onto some gains.
Last week, we noted the potential was high for a well-deserved break for stocks after a red-hot start to the year. That seasonal weakness may have begun. The S&P 500 is typically down in February, which joins September as the only other month to average in the red. But as we shared last …
It has been a great start to 2023 for stocks. We continue to expect higher prices this year, but we don’t anticipate they’ll happen in a straight line. February is sometimes known as a hangover month, and we wouldn’t be too surprised if stocks had a small break during this historically trou …
As poor as last year was for investors, 2023 has fortunately been a near mirror image. Stocks and bonds have both made solid gains to kick off the new year. The economy is in better shape than most expected, and overall inflation is also coming down, making a very nice combo.
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 …
Stocks sold off early in the week on disappointing retail sales and industrial production numbers, but they staged a nice bounce on Friday to close out the week. Although some recent data has been disappointing, inflation data continues to show fast improvement, with producer-level inflatio …
After one of the worst years ever for investors in 2022, we are quite happy to report that 2023 is off to a much better start. The S&P 500 is already up more than 4% for the year and flirting with the round number of 4,000. Optimism that the economy can avoid a recession (more …
