June 2025 Market Commentary

Investor sentiment soared in May along with stock prices.  According to a recent AAII survey, the percentage of bullish respondents rose to 37.7% versus 20.9% at the start of May.  Bears dropped from nearly 60% at the start of the month down to 36.7%.  These are big...

May 2025 Mid-Month Recap

With earnings coming in much stronger than expected and a series of trade policy reversals, stocks have cruised higher in May (up about 6% so far) and are now both higher for the year and within 4% of new all-time highs. The most significant walk-back came last week...

May 2025 Market Commentary

Earnings season has been strong. The results could have sparked more bearishness, but instead have generally been a sigh of relief.  Of the companies that have reported so far, an above-average 73% beat earnings estimates, and 63% beat sales estimates.  In terms of...

April 2025 Mid-Month Recap

The shares of Apple common stock peaked just after Christmas and then lost a third of their value in less than four months. They have since recovered about 17%.  There are many stocks that have been more volatile but Apple is the largest company by market value in the...

April 2025 Market Commentary

IS IT ONLY TARIFFS? The blame for the market’s drop lies squarely on the shoulders of tariffs.  During the period when the markets recently rallied from March 14th through March 25th, there was very little “tariff talk.”  When 25% auto tariffs were announced last...