Our Commentary

A Hard-To-Please Market

U.S. companies are nearly finished reporting remarkably strong first quarter results. Earnings for S&P 500 companies vaulted up by 25% from last year’s figures, a nearly unheard-of jump this late in an economic cycle. Such spikes in earnings may occur coming out of a recession, after earnings have been depressed, but are very improbable in […]

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US economy Stock market headwinds

Headwinds and Tailwinds Collide, Roiling Markets

Though the U.S. economy remained on firm ground in the first quarter of the year, growing by an estimated 2.8%, the new year has started with markets behaving very differently than in the recent past.  In the last couple of years, markets have been characterized by steady, positive returns accompanied by below-average volatility.  The first […]

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economic growth

Mr. Powell Straps In

By most measures, the U.S. economy is on firm footing and growth is accelerating into 2018.  Over the second half of 2017, our economy grew at an annualized rate of 3% while the U.S. unemployment rate has ticked down to 4.1%, its lowest level since the early 2000s.  The recently enacted tax cuts will add […]

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Machines Hijack Dow

In the last two trading days, global equity markets have taken a drubbing.  The Dow has lost more than 2,200 points since Friday morning and is off 8.5% since its 26,616 high on January 26th.  Year-to-date, (after a great start in January) the Dow is now in negative territory, down 1.5%.dlohner / PixabayInvestors are rightly […]

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Growth Strong Out of the Gate: 2018 Investment Outlook

YenniVance / PixabayFor investors, 2018 has started off much like 2017 – which is to say strong equity returns, uninspiring bond returns and very little volatility. Before we get to our 2018 outlook, however, let’s have a look back at 2017 and what made it such a bountiful year for equity investors.2017 was a remarkable […]

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Stocks Coasting into the Holidays

The U.S. stock market continues to give investors a smooth and profitable ride as we head into the last month of the year.  By some measures, market volatility has not been this low since the early 1960s.  So far this year, the S&P 500 Index has returned 16%.Since stocks began rebounding from the financial crisis […]

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