August 2024 Mid-Month Recap

Stocks remain in an uptrend whether you look at short-term or long-term indicators.  We will focus here on the longer-term, the 200-day moving average.  As shown in the graph below, the S&P 500’s 200-day continues to make another leg higher and has yet to roll...

August 2024 Market Commentary

Just when it seemed mega-caps may never go down and small-caps may never go up again, we have seen a short-term reversal of epic proportions. The tech-heavy NASDAQ 100 is down about 8% while the small-cap Russell 2000 is up almost 10% over the last 13 trading days. ...

July 2024 Market Commentary

This week marks the beginning of earnings season for the second quarter.   S&P 500 companies are expected to report a fourth straight quarter of growth, with profits forecast to rise 8.8% over last year’s second quarter (source:  FactSet). The top 10 companies in...

June 2024 Mid-Month Recap

We got a favorable CPI print for May last week. Core CPI decelerated to the slowest monthly pace in almost three years.  Core CPI ex-rent dropped month-over-month and is now below a 1% annual rate of change on both a three month and 12 month basis.  This was arguably...