Quick Takes The U.S. stock market concluded its sixth straight week of gains, with the S&P 500 closing at a record high. The S&P 500 Index rose +0.9% for the week, setting its 47th record close of the year. Last week’s advance was driven by a combination...
Quick Takes U.S. stocks extended their win streak to five weeks for the first time since May. The benchmark S&P 500 Index also closed above the 5,800 point milestone for the first time on its way to another all-time high and a +1.1% gain for the week. Treasury...
Key Points GOING BIG – Investors were pleasantly surprised by the Federal Reserve initiating the first rate cutting cycle since 2020 with a jumbo-sized 50 basis point cut. Markets had been expecting a more typical 25 bps cut. It is only the third time in modern...
Quick Takes Sentiment was shaky throughout the week as markets digested the devastating damage that Hurricane Helene left in its path, escalating tensions in the Middle East between Iran and Israel, as well as a massive strike by the International Longshoremen’s...
Quick Takes Economic data and stimulus blitz from China carried U.S. equities to their third straight week of gains. The S&P 500 rose +0.6% for the week, while the Nasdaq Composite was up +1.0%. However, the small cap Russell 2000 slipped -0.1%. Chinese stocks...
Quick Takes The Federal Reserve initiated the first rate cutting cycle since the 2020 pandemic with a jumbo-sized 50 basis point cut. The Fed expects two more cuts of 25 bps in 2024 and an additional 100 bps of cuts in 2025. Economic data was mostly upbeat as retail...
Quick Takes The S&P 500 Index rebounded from its worst week since March 2023 (-4.3%) with a +4.0% gain, which is its best week since November 2023. It was the first time since June 2022 that the benchmark index fell at least 4% in one week and then rallied more...
Key Points SHARP BUT SHORT – August began with a sharp selloff that resulted in the deepest drawdown for the S&P 500 in 2024 and put the tech-heavy Nasdaq in correction territory. However, it was relatively short-lived, and by the middle of the month, most...
Quick Takes September has historically been the worst month of the year for equities, and 2024 is living up to that reputation so far. The S&P 500 ended the week down -4.3%, its worst week since March 2023. The Nasdaq fell even more, down -5.8%, while the Russell...
Quick Takes Reassuring growth and inflation data left stocks and bonds mixed for the week but up for the month of August. The S&P 500 Index inched up +0.2% for the week, and finished August up +2.3%, its fourth straight monthly gain. Second quarter GDP was...
