July 2023 Mid-Month Recap

The June CPI (consumer price index) was released last Wednesday. The readings came in at 0.2% month-over-month for both headline and core.  We tend to focus more on the headline number that includes food and energy, two important components of consumer spending.  On a...

July 2023 Market Commentary

While the consumer price index (CPI) has fallen from 9% to 4% year-over-year, the producer price index (PPI) has been more volatile on both the upside and subsequent fall. (The CPI measures inflation to consumers or end-users.  The PPI measures wholesale price...

June 2023 Mid-Month Recap

This morning the headline CPI was released at 0.1% for the month of May, and 4% year-over-year.  Inflation is coming down as fast as it went up.  The pace of increase in year-over-year inflation has now declined for eleven straight months.  But because monthly ‘core’...

June 2023 Market Commentary

We mentioned in our May commentary that the main theme for the next bull market could very well be Artificial Intelligence (AI).   Although fundamentals and valuation metrics lead us to believe we are not yet in a new bull market, no one has told investors in AI...

May 2023 Mid-Month Recap

Stocks remain in no man’s land, with neither side making much progress. This probably helps to explain why the market doesn’t feel much like a bull or bear.  From a technical perspective, we are still in a bear market but remain in a tight trading range.  The S&P...