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Foundation Set for a Bottom in Homebuilders
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, February 17, 2023 Key Conclusions: Housing market data and homebuilder stocks have diverged over the last several months. Rising interest rates and the subsequent spillover into mortgage rates poured cold water on the post-pandemic housing market melt-up. The national average 30-year fixed rate mortgage jumped from […]
February 17, 2023
No Landing = No Sense
Posted by Jeffrey J. Roach, PhD, Chief Economist Tuesday, February 21, 2023 The “Landing” Analogy We need to go back a few years to recall the time investors began using the “landing” analogy. During the hot summer of the mid-1990s, the Honorable Alan Greenspan spoke to the Economic Club of New York, where he was introduced […]
February 21, 2023
Leading Indicators Signal Caution Over Next Six Months
Posted by Barry Gilbert, PhD, CFA, Asset Allocation Strategist Thursday, February 23, 2023 The Conference Board’s Leading Economic Index (LEI) for January was released Friday, February 17, 2023. The LEI is an aggregate of 10 economic and market indicators that tend to lead changes in economic activity. The index declined 0.3% for the month and 5.9% […]
February 23, 2023
Doctor Copper, Give me the News
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, February 24, 2023 Key Conclusions: There is no shortage of headlines reminding investors a recession is imminent. Yield curves remain inverted, manufacturing activity is contracting, the housing market is tumbling, and other leading economic indicators continue to decline, all while the Federal Reserve (Fed) continues to […]
February 24, 2023
Bonds Are Back… But it May be Bumpy And That is Normal
Posted by Lawrence Gillum, CFA, Fixed Income Strategist Tuesday, February 28, 2023 Bond investors experienced the worst year ever for core bonds last year (as per the Bloomberg Aggregate Bond Index), -so the prospects of another year like 2022 could be hard to fathom. The good news is we don’t think we’ll see another year like […]
February 28, 2023
What Can March Seasonals Tell Us About the Outlook For Stocks?
Posted by George Smith, CFA, CAIA, CIPM, Portfolio Strategist Thursday, March 2, 2023 As a rough February for the markets draws to a close, with a 2.3% decline in the S&P 500 Index, we look at what clues seasonality data may give us for stock market performance over the coming months. Turns out that while, historically, […]
March 2, 2023
Supply Chain Stability Comes at a Cost
Posted by lplresearch Thursday, March 2, 2023 As the long-term effects of the pandemic continue to unfold, one trend that has been adopted by multinational companies is to repatriate their supply chains in an effort to avoid future disruptions. In both the U.S. and in developed international countries, companies are increasing their focus on supply chain […]
March 2, 2023
Buybacks are Back
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, March 3, 2023 Key Takeaways: Background Share repurchases were cast into the spotlight this week after Warren Buffet pushed back against recent political criticism of corporate buyback programs. The “Oracle of Omaha” penned a rebuttal in his closely watched annual letter to Berkshire Hathaway shareholders where […]
March 3, 2023
S&P GICS Sector Changes Coming March 17
Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Wednesday, March 8, 2023 On March 17, S&P Dow Jones Indices and MSCI will make changes to GICS sector classifications. These changes don’t happen very often so they are noteworthy when they occur. Some of the more recent changes included the reconstitution of the communication services sector, which […]
March 8, 2023
Are Airlines Ready for Takeoff?
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, March 10, 2023 Key Takeaways: Background After a turbulent descent during the pandemic, the airline industry is finally showing signs of recovering. The transition of consumer spending from goods to services has helped revive travel demand. This trend likely has staying power. According to LPL Research […]
March 10, 2023