The stock market is off to an awful start this year. With a YTD decline of over 13% through April, the S&P 500 is off to its third worst start since WWII, and the NASDAQ has never had a weaker start over four months. So one would expect investor sentiment to be...
Despite year-to-date losses for stocks, the estimated earnings of the S&P 500 companies for the next 12 months have continued to climb as shown below: NO LETUP IN FORWARD EPS ESTIMATES Source: Bespoke Investment Group This divergence between the trend in...
Not long after Vladimir Lenin returned from exile in Switzerland to lead the Russian revolution in 1917, he was credited with saying, “There are decades where nothing happens, and there are weeks where decades happen.” The current Russia-Ukraine war isn’t even three...
Even though the market rebound last week was coincident with the Russian invasion (possibly signaling the bad news was fully discounted), we don’t think the coast is clear, and more volatility may be with us in the short term. Investors have at least three major...
The sharp drop in share prices last Friday was attributed to the expected invasion of Ukraine by Russia. Although that prospect is a disturbing geopolitical event, any U.S. stock market reaction is likely to be limited and short-lived. The U.S. stock market typically...
