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FOMC Recap: Connecting the Dots
Posted by Jeffrey J. Roach, PhD, Chief Economist Thursday, June 15, 2023 As expected, the Federal Open Market Committee (FOMC) kept rates unchanged at its meeting yesterday but communicated a hawkish bias to future interest rate decisions. With a slight tweak, the FOMC statement was modestly hawkish but still communicated to investors that the committee is […]
June 15, 2023
Volatility Regime Shift
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, June 16, 2023 Key Takeaways: While the S&P 500 recently entered a new bull market by climbing 20% above its October 12 low, the same bear market continues for implied equity market volatility. The VIX has been trending lower since January 2022 and recently fell to […]
June 16, 2023
Multi-Family Construction Could Help Support Fed Pivot
Posted by John Lohse, CFA Wednesday, June 21, 2023 Based on data released this week, the domestic housing market for both single and multi-family units had a very strong month in May. This is important because increased construction, especially of multi-family units, should help relieve some pressure on rents, and shelter has been one of the […]
June 21, 2023
Pause and Reflect
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, June 23, 2023 Key Takeaways: After 15 straight months of raising interest rates, the Federal Open Market Committee (FOMC) kept rates unchanged last week during their June monetary policy meeting. The pause in rate hikes was widely expected. The surprise came in the Fed’s updated Summary […]
June 23, 2023
Five Week Positive Streak for the S&P 500 Ends -Now What?
Posted by George Smith, CFA, CAIA, CIPM, Portfolio Strategist Monday, June 26, 2023 It had been a strong recent run for stocks, as measured by the S&P 500 Index, with the index recording five consecutive weeks of gains but the streak came to an end on Friday with a negative 1.4% weekly return. We decided to […]
June 26, 2023
What is the Russell Reconstitution?
Posted by Kent Cullinane, Research Analyst Wednesday, June 28, 2023 On Friday, June 23, FTSE Russell’s (Russell) U.S. indices went through their annual reconstitution. This process refreshes the breakdown of equities by market capitalization (large, mid, and small) and investment style (value and growth) that make up Russell’s indices. The reconstitution is required because the criteria […]
June 28, 2023
Real Spending Stagnant in May
Posted by Jeffrey J. Roach, PhD, Chief Economist Friday, June 30, 2023 Key Takeaways: Consumer Spending Stalls Consumer spending, adjusted for inflation, was unchanged in May as consumers pulled back demand for durable goods. Investors should see this as the setup for a downshift in consumer activity for the remainder of 2023. The details of the […]
June 30, 2023
Improving Inflation and Better-Than-Expected Earnings Help Q2 Markets Overcome Challenging Financial Landscape
Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Wednesday, June 5, 2023 Index Performance View enlarged chart Equities Cap Off Strong First Half with Solid Second Quarter Gains The S&P 500 continued its strong 2023, returning 8.7% including dividends in the second quarter to bring its first-half gain to 16.9%, its best since 2019. The Dow […]
July 5, 2023
Correlation Comparisons
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, July 7, 2023 Key Takeaways: Correlation Comparisons As noted in our Second Half Setup blog last week, the S&P 500 had an impressive first half price gain of 15.9%. Given the mostly one-way direction of price action this year, including the S&P 500’s tenth-best first half in 73 […]
July 7, 2023
2023 Midyear Outlook: The Path Toward Stability
Posted by lplresearch Tuesday, July 11, 2023 Recently, the LPL Research team published the 2023 Midyear Outlook: The Path Toward Stability. A six-month check-in on where the markets have been and where they seem to be headed, the report is a great guide to help steer personal portfolios. If you haven’t read it yet in its […]
July 11, 2023