What a difference a month makes. After a strong June and July, the S&P 500 is down about 3% this month so far with the NASDAQ 100 down about 4%. Small caps are down about 6%. So, while we may have seen a broadening of the market, unfortunately it has been to...
June saw a huge increase in bullish sentiment that carried through in July. It has been a complete turnaround since the continuously pessimistic readings throughout 2022. The about-face has been so large that an investor has to ask: Are we seeing an increase in...
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...
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...
Corporate earnings season for Q1 is now about halfway completed. So far, modest expectations have been exceeded. Coming in, investors expected a 6.3% drop in profits. Now a 4.2% decline is expected. Here are year-over-year earnings forecasts for the rest of 2023...
The S&P 500 had a solid month in March; up 3.5%. But not everything rallied in March. Small caps and mid-caps were down 3-5%. Only 3 of 11 equity sectors are up March YTD. And high quality stocks have been lagging all year as shown by the difference in...
