Weekly Market Commentary

-Darren Leavitt, CFA Markets pushed back on an early week sell-off to close at record highs for the S&P 500 and NASDAQ.  A building sense that the market is due for a pullback was met with inline consensus inflation data, continued outperformance in the...

Weekly Market Commentary

Weekly Market Commentary – 2/16/2024 -Darren Leavitt, CFA Wall Street took a breather last week as hotter-than-expected inflation data forced investors to recalibrate their expectations for rate cuts from the Federal Reserve.  Mega-cap issues that have been...

Weekly Market Commentary

Weekly Market Commentary – 2/9/2024 -Darren Leavitt, CFA The S&P 500 hit another record high and topped the 5000 level for the first time as investors focused on better-than-expected Q4 earnings.  The economic calendar was light this week but showed...

Weekly Market Commentary

Weekly Market Commentary – 1/19/2024 -Darren Leavitt, CFA The S&P 500 and Dow Jones Industrial Average hit record highs on Friday despite a reset of monetary policy rate cut expectations.  Mega-cap technology issues outperformed with a jump start from the...

Weekly Market Commentary

Weekly Market Commentary – 1/12/2024 -Darren Leavitt, CFA US Markets gained ground in the second week of 2024, attributed to mega-cap issues in the Information Technology and Communication Services sectors.  The Equal-weight S&P 500 was up 0.2%, while the...

Weekly Market Commentary

Weekly Market Commentary – 1/5/2024 -Darren Leavitt, CFA After nine weeks of gains, the market fell in the first week of trading in 2024.  Interestingly, the losses incurred this week largely came from areas of the market that outperformed last year, namely...

Weekly Market Commentary

Weekly Market Commentary – 12/22/2023 -Darren Leavitt, CFA US equity markets inked an 8th consecutive week of gains as investors continued to foster the soft landing narrative.  Trading volumes lightened as the week progressed and corporate news was relatively...

Weekly Market Commentary

Weekly Market Commentary – 12/15/2023 -Darren Leavitt, CFA The Bull market continued its rally streak to seven consecutive weeks, something not seen since 2017.  Wall Street threw a “pivot party” as the US Federal Reserve’s Open Market Committee meeting ended...

Weekly Market Commentary

Weekly Market Commentary – 12/8/2023 -Darren Leavitt, CFA The S&P 500 gained ground for the sixth consecutive week as US economic data continued to support the soft landing narrative.  Mega-cap issues provided leadership, while small-caps continued to...

Weekly Market Commentary

Weekly Market Commentary – 11/17/2023 -Darren Leavitt, CFA The S&P 500 closed above 4500 after inking its third consecutive weekly gain.  Temperate economic data released over the last few months has elevated the idea of an economic soft landing and the idea...

Weekly Market Commentary

Weekly Market Commentary – 11/10/2023 -Darren Leavitt, CFA Markets were mixed this week as investors digested additional earnings announcements, a plethora of Fed rhetoric, and a large dose of US Treasury issuance.  The divergence of mega-cap stocks widened...

Weekly Market Commentary

-Darren Leavitt, CFA Global financial markets rallied big time last week on dovish tones from central bankers and on the notion that this interest rate hike cycle may be over.  The Bank of Japan kicked the week off with a vague move that sets their 10-year Japanese...

Weekly Market Commentary

-Darren Leavitt, CFA Equity markets faced another wave of selling as the S&P 500 went into correction territory, down 10.13% from the end of July.  Investors saw some relief from the bond market, but trade in Sovereign debt continued to lack a safe-haven bid...

Weekly Market Commentary

Weekly Market Commentary – 10/20/2023 -Darren Leavitt, CFA This week, the debt market resumed its sell-off and wreaked havoc on the equity markets.  The US 10-year bond yield hit 5% for the first time since 2007, while longer-tenured issues felt the brunt of the...

Weekly Market Commentary

Weekly Market Commentary – 10/13/2023 -Darren Leavitt, CFA US equity markets finished the week with mixed results as investors digested the first tranche of third-quarter earnings results. JP Morgan, Citi Bank, Wells Fargo, and United Healthcare had...

Weekly Market Commentary

Weekly Market Commentary – 9/22/2023 -Darren Leavitt, CFA US equity markets sold off in tandem with the US Treasury market as the Federal Reserve’s Open Market Committee meeting concluded with no change to its policy rate.  The Fed’s Summary of Economic...

Weekly Market Commentary

-Darren Leavitt, CFA The holiday-shortened week ended with losses for both US equities and Treasuries.  Apple shares tumbled on the news that the Chinese government would ban the use of the iPhone at government agencies at all levels of government.  The news comes in...

Weekly Market Commentary

Weekly Market Commentary – 8/25/2023 -Darren Leavitt, CFA Financial markets were all over the place last week and ended with mixed results. The S&P 500 gained 0.8% and closed above 4400, a critical psychological level, but fell short of regaining the 50-day...

Weekly Market Commentary

Weekly Market Commentary – 8/18/2023 -Darren Leavitt, CFA US equity markets fell for the third consecutive week.  The S&P 500 broke its 50-day moving average and then sank below 4400.  The sell-off has been on low volume, and the market may have been due to...

Weekly Market Commentary

-Darren Leavitt, CFA US Financial markets had another week of consolidation.  Equities and US Treasuries sold off in tandem on light volume.  An early week debt downgrade of 10 small to midsized banks and a notice that other downgrades may follow by Moody’s dampened...