Why has the stock market been so strong since Election Day? In our view, the prospect of a Biden victory and a GOP Senate was not expected which is partially why we are seeing equity prices soar. Add the good news that Pfizer and Moderna both announced very good...
Investors are entering third-quarter earnings season with bright expectations that this could propel the next leg of the stock market’s rally. After all, analysts have been lifting estimates for the quarter – a move that goes against the norm. Typically, earnings...
The Yale School of Management runs a “crash confidence” sentiment reading (we’ve never seen this index before). The index measures how worried investors are about a stock market crash in the next six months. The Yale Crash Confidence reading suggests that individual...
Within the S&P 500, we continue to see a huge performance divergence between the largest and smallest stocks. Through last Friday, the cap-weighted S&P 500 was down under just 1% YTD, but the equal-weighted index was still down more than 10%. (A...
We thought we were finished seeing 1000-point moves in the Dow 30. Just when things were settling down, Fed Chairman Powell threw a hand grenade at investors last week, reminding markets that we are not out of the woods yet. His sentiments were not actually...
The stock market is not the economy (and it has never been more true). The markets are experiencing a moment of optimism after suffering the sharpest drop into a bear market in history. The magnitude of the recent price gains seems to be very optimistic...
