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Top-Heavy Doesn’t Mean Market Top
Adam Turnquist | Chief Technical Strategist Key Takeaways: Narrow leadership has been one of the major themes throughout 2023. The so-called Magnificent Seven mega-caps — Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla — have contributed to 60% of the S&P 500’s 26.5% total year-to-date return (as of December 27). Given this top-heavy concentration and a […]
December 28, 2023
The Santa Claus Rally Ends on the Naughty List
Adam Turnquist | Chief Technical Strategist Additional content provided by Colby Hesson, Analyst. Yesterday marked the end of the historically strong seasonal period called the Santa Claus Rally, technically classified as the last five trading days of the year plus the first two trading days of the new year. Since 1950, the S&P 500 has generated […]
January 4, 2024
Record-High Watch for S&P 500 Remains in Effect
Adam Turnquist | Chief Technical Strategist Key Takeaways While severe weather watch alerts sweep across many parts of the U.S. this week, a record-high watch is now in effect for the S&P 500. The index rose 0.6% yesterday, closing only 13 points away from its January 3, 2022, record-high close of 4,796.56. In the event of […]
January 11, 2024
The S&P 500 Ventures into Unchartered Territory
Jeff Buchbinder | Chief Equity Strategist Key Takeaways How it Unfolded After stumbling out of the gate to start the year, the S&P 500 has found its footing and broken out to levels never reached before. These new highs might seem a bit sweeter to equity investors considering the notably bumpy ride they endured to get […]
January 1, 1970
Semiconductors Lead Stocks Higher
Key Takeaways Records have been on repeat for the semiconductor space as the outlook for chip demand continues to improve. The proliferation of spending on AI, coupled with an expected rebound in PC demand and increased chip usage across the automotive industry, have helped offset concerns related to elevated inventories and slowing global growth. As […]
January 26, 2024
How Markets Regard Democratic Incumbents
Jeff Buchbinder | Chief Equity Strategist The 2024 election is right around the corner. The recent victories of Former President Donald Trump at the Iowa and New Hampshire primaries have moved Election Day closer, as it seems that the two candidates have been chosen earlier than usual, setting the stage for a contentious rematch of the […]
January 31, 2024
As Goes January, So Goes the Year
Adam Turnquist | Chief Technical Strategist After a relatively slow start, the S&P 500 rallied during the back half of January and closed out the month with a gain of 1.6%. Buying pressure was relatively narrow, as declining shares on the index modestly outpaced advancers. Similar to 2023, a few mega-caps did most of the heavy […]
February 1, 2024
How Could the Markets Surprise Us in 2024?
Kristian Kerr | Head of Macro Strategy Byron Wien recently passed away. He was a true Wall Street icon. I had the good fortune of meeting Mr. Wien once when I was seated behind him at an investment conference during the depths of the Great Financial Crisis (GFC). Mr. Wien was probably best known for his […]
January 1, 1970
Core Fixed Income: Down but Not Out
Lawrence Gillum | Chief Fixed Income Strategist Additional content provided by Colby Hesson, Analyst, Research The Federal Open Market Committee (FOMC) faces a tough decision in 2024 as it is no longer a question of ‘if,’ but rather ‘when’ rate cuts will occur. The FOMC is not expected to cut rates at their upcoming March meeting, […]
February 28, 2024