Featured Journal Entry

Q2 EARNINGS: MUDDLING THROUGH

Second quarter earnings season gets rolling this week. Consensus estimates are calling for a modest year-over-year decline in S&P 500 Index earnings amid the downshift in U.S. and international economic growth, tariffs, and ongoing trade tensions. Quarterly earnings almost always beat quarter-end consensus estimates — this quarter...
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Journal Entries

MARKET BOTTOMING PROCESS CONTINUES
Stock market volatility has remained high as investors continue to closely track COVID-19 containment efforts while getting a glimpse into how damaging travel restrictions, stay-at-home orders, and social distancing have been on the US economy. We...
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Road To Recovery Playbook Update
Stocks soared last week, working off historically oversold levels. Although the impact to our economy and American workers has been devastating, we did see some positive developments from monetary and fiscal stimulus, which could set up a powerful...
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KEY WEEK FOR THE BOTTOMING PROCESS
Last week, we revised our economic and market forecasts as the war against the COVID-19 pandemic wages on. We are likely in recession now, though we won’t know that for sure until more timely data is released. What is clear, however, is stocks have...
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ROAD TO RECOVERY PLAYBOOK
After recording two double-digit drops in equity prices over the last three trading days, the global pandemic of COVID-19 has sent world equity markets into bear market territory. The result is a cumulative 30% drop in the S&P 500 Index in just...
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THE BULL TURNS 11
As the coronavirus continues to scare global markets, it would be easy forget that the current bull market started 11 years ago today. Based on investing fundamentals, we continue to believe we’ll see a resumption of economic growth and a...
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CORONAVIRUS FEARS INTENSIFY
Fears surrounding the coronavirus outbreak—or COVID-19—caused significant market volatility this week, wiping out all of the gains from the S&P 500 Index since October 2019. While we want to focus on the economic impacts of the virus in this...
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