Market Commentary — June 20, 2023

Despite a multitude of headwinds, the bull market rally marches on. The S&P 500 Index tallied its longest stretch of daily gains since November 2021, posting its best weekly performance since the end of March. Market breadth narrowed a bit last week, with a renewed focus on large-cap growth stocks.

Market Commentary — June 20, 20232023-06-26T16:02:39+00:00

Market Commentary — June 12, 2023

Last week, the S&P 500 officially entered a bull market, up more than 20% off its mid-October lows. What is even more notable is that market breadth is also improving. Small caps outpaced large caps, and value shares outperformed growth names last week.

Market Commentary — June 12, 20232023-06-17T19:33:21+00:00

Market Commentary — June 5, 2023

US stock benchmarks ended last week with solid gains, with the S&P 500 reaching its highest intraday levels since August 2022. The NASDAQ Composite notched its sixth consecutive weekly gain in strength among technology names.

Market Commentary — June 5, 20232023-06-17T19:33:11+00:00

Market Commentary — May 30, 2023

As last week drew to a close, investors watched carefully for signs of progress in debt ceiling negotiations. Technology stocks rallied, boosted by the 24% jump in chipmaker Nvidia, which took the company's market capitalization close to $1 trillion.

Market Commentary — May 30, 20232023-06-17T19:33:02+00:00

Market Commentary — May 22, 2023

Stocks recorded solid gains this week, with the S&P 500 testing the 4,200 level intraday for the first time since late August. But part of what is driving S&P 500 performance is the rally among mega-cap tech stocks such as Alphabet, Meta, and chipmakers Nvidia and AMD in what could be characterized as an "AI" opportunity repricing of these names.

Market Commentary — May 22, 20232023-06-17T19:32:54+00:00

Market Commentary — May 15, 2023

As first-quarter earnings season nears a close, investors have turned to evaluate inflation data and predictions about whether the next Fed move in June will be a pause or another rate hike.

Market Commentary — May 15, 20232023-05-13T21:31:41+00:00

Market Commentary — May 8, 2023

As expected the Fed increased interest rates another 25 bps last week, taking the target range from 5-5.25%. While Fed Chair Jerome Powell's hinted that rates may be near the peak level for the cycle (a pause), a Fed pivot to cutting rates might not occur as soon as investors hoped.

Market Commentary — May 8, 20232023-05-13T21:21:22+00:00

Market Commentary — May 1, 2023

Megacap tech stocks boosted market returns last week, with Microsoft, Apple, Amazon, and Meta Platforms accounting for roughly half of the market's strong weekly gain. Meta alone was up 14% on an earnings beat.

Market Commentary — May 1, 20232023-05-07T20:40:47+00:00

Market Commentary — April 24, 2023

The major benchmarks finished mixed last week, with corporate earnings grabbing the spotlight from a relatively light calendar of economic data. One item of note, the CBOE VIX Index, a gauge of "fear" and volatility, hit its lowest level since late 2021, closing the week at 16.77.

Market Commentary — April 24, 20232023-04-24T16:06:35+00:00

Market Commentary — April 17, 2023

The major benchmarks ended the week higher last week, as investors balanced the likelihood of recession versus signs that inflationary pressures are abating.

Market Commentary — April 17, 20232023-04-17T18:14:34+00:00
Go to Top