Although not even close to correction territory, the market has been acting heavier and heavier. Here is part of the reason why: The huge AI theme may be the market’s spinach, but the three-headed monster of higher oil prices, interest rates, and the U.S. dollar have...
With Q1 2024 now complete, the S&P 500 index posted a return of 10.2%. That was good enough to beat the tech-heavy NASDAQ 100 and the blue-chip Dow Jones 30 on the large-cap front. It also beat both small-caps and mid-caps. It is remarkable that we haven’t seen...
The U.S. stock market is overbought in the short-term and a near-term pullback can never be ruled out, especially in mega-cap tech land. Regarding the Fed, the late December 2023 pivot has helped, but this rally is about much more than the Fed (we suspect...
The main section in last month’s February commentary was titled “The Tech Bull Market Rolls On.” Tech stocks continue to lead the charge and exploded to the upside after NVIDIA reported stellar results last week. AI continues to be the driving theme in the stock...
The Q4 earnings season is about halfway over and it has been mixed at best, in our view. Companies are beating EPS estimates at a normal clip, but revenue growth has been disappointing. This can lead to both lower profit margins and slower earnings growth ahead. ...
