Just when we thought we knew what would happen between now and election day, the passing of Justice Ginsberg has reshuffled the deck just 40+ days ahead of the election. President Trump is likely to nominate a replacement for Ruth Bader Ginsburg’s seat in the coming days with Amy Coney Barrett and Barbara Lagoa being the top contenders. Coney Barrett is a devout Catholic important in the Midwest. Lagoa would be the first Cuban American woman nominated to the Supreme Court. Senate Republicans … View More
The S&P 500 Index returned -2.49% last week. The index recorded gains for five consecutive months through August and is up 4.80% year-to-date. However, the first two weeks of September have trended down with the index currently down 4.50% for the month. Crude oil closed at $37.33 per barrel on Friday, declining 6.14% for the week. This is the second straight week of losses, marking the largest two-week decline since April. Energy stocks have been under pressure posting the worst sector perf… View More
September is a notoriously difficult month for the markets. It has been consistently difficult in many years, but we were hopeful this year would be different with the Coronavirus interrupting our normal lives and habits. Since the lockdowns in March, there has been a tremendous pick up in retail investors, who now make up 25% of invested assets. Traditionally, retail investors have exacerbated market trends. Retail investors, generally speaking, tend to buy and sell at the wrong times (buy high… View More
Stocks continued to rise to record levels last week after a clearer path was laid out by the Federal Reserve. In a shift from previous statements, chairman Jerome Powell said the Fed would be more accommodative and let inflation and employment run at higher rates that will likely accompany lower interest rates. The statement came as unemployment benefits dropped, signaling the labor market is recovering. President Trump officially accepted the GOP nomination on Thursday. His speech at the White … View More
The perceived disconnect between the strength in equity markets vs. the current standing of the economy remains – without hesitation – the primary source of anxiety among investors. We continue to think about this a little bit differently than the consensus… specifically, the quiet leadership from the more cyclical corners of the market may be more suggestive of a positive economic surprise in the months ahead. Consumer Discretionary vs. Consumer Staples (equally weighted), is on the cusp … View More