Market Commentary

November 13th, 2017 - Market Update

The momentum trade that powered the S&P 500 to eight straight weeks of gains finally took a breather last week. All three large cap U.S. equity indices lost approximately 0.50% while small caps fell over 1%. Much of the softness in the U.S. can be attributed to questions swirling around the likelihood of D.C. getting something done on tax reform - Senator Paul Ryan opened the door for a delay on the corporate tax cut. Most international indices followed suit suggesting we may be in for a period of consolidation. [...]

November 6th, 2017 - Market Update

The Dow, S&P 500, and NASDAQ all notched new record highs last week. Overall, equities were mixed with tech and energy stocks posting nice gains while small caps lost ground. The yield curve flattened meaningfully with short rates (2yr +0.04%) moving higher while long rates (30yr -0.11%) fell. The U.S. dollar was flat on the week while commodities, particularly oil, moved higher. [...]

October 30th, 2017 - Market Commentary

Robust technology sector earnings propelled U.S. equity markets, interest rates, and commodities higher. The S&P 500 has brushed off "Washington chaos", "North Korea", "Fed rate hikes", "excessive valuations", and a weak run of economic data to post its 50th record high this year - tied for 5th most all time. [...]

October 23rd, 2017 Market Commentary

U.S. equity markets hit record highs across the board last week while we saw some weakness in the overseas equity markets. Supportive narratives included strong corporate earnings and a DC budget approval, which still requires compromise but does push talk of tax reform to the front burner. Interest rates and the U.S. dollar moved higher together on encouraging economic and fiscal news of the week. [...]

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