Weekly Commentary

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Nearly all asset classes saw small moves to start the week as traders waited for key economic data and Fed Speak. After hotter-than-expected inflation readings from the CPI report earlier in the month, many will be watching the PCE index numbers on Thursday for more insight into the reflation threat.

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Last Week on Wall Street

S&P 500: 1.66% DOW: 1.30% NASDAQ: 1.49% 10-YR Yield: 4.26%

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Stocks faltered out of the gates as investors continued to price in less conviction on rate cuts over 2024. Just a few weeks ago, bets on lower rates were at the forefront of minds until hotter-than-expected economic data began to re-adjust those expectations.

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Last Week on Wall Street

S&P 500: -0.42% DOW: -0.11% NASDAQ: -1.34% 10-YR Yield: 4.29%

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Week of February 12th

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Last Week on Wall Street

S&P 500: +1.37% DOW: +0.04% NASDAQ: +2.31% 10-YR Yield: 4.19%

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Week of February 5th

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Last Week on Wall Street

S&P 500: +1.38% DOW: +1.43% NASDAQ: +1.12% 10-YR Yield: 4.03%

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Stocks are having another strong week as the S&P 500 hit new highs yesterday propelled by robust performances out of mega caps. As the week unfolds, investor attention is keenly focused on the upcoming earnings reports from tech giants, particularly Alphabet and Microsoft, which are slated to release their financial results post-market.

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Last Week on Wall Street

S&P 500: 1.06% DOW: 0.65% NASDAQ: 0.94% 10-YR Yield: 4.16%

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After breaking to all-time highs, stocks edged slightly higher to start the new trading week. This bullish sentiment is fueled by robust economic indicators, despite concerns that the market's rapid ascent might have run too far, too fast.

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Last Week on Wall Street

S&P 500: 1.17% DOW: 0.72% NASDAQ: 2.26% 10-YR Yield: 4.15%

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Coming off a rebound last week, markets started the shortened trading week on a more uneven footing. Bond yields rose and stocks fell on thoughts that anticipation of Fed cuts have gone too far.

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Last Week on Wall Street

S&P 500: 1.84% DOW: 0.34% NASDAQ: 3.09% 10-YR Yield: 3.95%

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After a shaky first week in markets, we started the week on a positive footing with tech surging on Monday. Still, our Newton models show deterioration for the second straight week across broad markets. A hotter-than-expected labor market, overbought conditions, and a heavier supply of debt from corporations and the government are all likely causes.

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Last Week on Wall Street

S&P 500: -1.52% DOW: -0.59% NASDAQ: -3.25% 10-YR Yield: 4.04%

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Happy New Year! As we turn the page on the calendar, stocks' scorching rally is beginning to sputter as we kick off the trading week. The darlings of last year, such as the magnificent 7, are faltering the most.

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Last Week on Wall Street

S&P 500: 0.75% DOW: 0.22% NASDAQ: 1.21% 10-YR Yield: 3.90%

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The rally in stocks continued on Monday as the VIX hit multi-year lows. As the year draws to a close, this rally in stocks, often referred to as the market's "Santa Rally", faces the challenge of potential exhaustion.

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Last Week on Wall Street

S&P 500: 2.49% DOW: 2.92% NASDAQ: 2.85% 10-YR Yield: 3.92%

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Wall Street kicked off the new week on decent footing as stocks advanced higher. There are huge economic data releases this week starting with the Consumer Price Index this morning.

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Last Week on Wall Street

S&P 500: 0.21% DOW: 0.01% NASDAQ: 0.69% 10-YR Yield: 4.24%

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Wall Street kicked off the new week on shaky footing as both stocks and bonds opened down. The pullback comes after technically overbought conditions persisted due to the huge rally in November. Megacap growth names were taking the brunt of the damage as we are starting to see a slight rotation out of the major winners of 2023.

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Last Week on Wall Street

S&P 500: 0.77% DOW: 2.42% NASDAQ: 0.38% 10-YR Yield: 4.23%

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We hope everyone enjoyed their Thanksgiving! As we step into a new week, Wall Street is poised to wrap up November on a strong note, building on 4 consecutive weeks of gains in the stock market.

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