Weekly Commentary
This Week on Wall Street - Week of November 27th
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.
moreLast Week on WallStreet - November 25th, 2023
S&P 500: 1.00% DOW: 1.27% NASDAQ: 0.89% 10-YR Yield: 4.47%
moreThis Week on Wall Street - Week of November 20th
Happy Thanksgiving week! As we enter this festive period, financial markets are showing optimism. The prevailing sentiment is that the Federal Reserve may be concluding its cycle of interest rate hikes, a development that has spurred a rally in both stocks and bonds. Many see inflation falling back to the Fed's 2% target without a material upswing in unemployment and odds stand at 28% of a cut at the March 2024 meeting. However, it's worth considering that this tapering in inflation might be attributed to a decrease in consumer demand.
moreLast Week on WallStreet - November 18th, 2023
S&P 500: 2.24% DOW: 1.94% NASDAQ: 2.37% 10-YR Yield: 4.44%
moreThis Week on Wall Street - Week of November 13th
The stock and bond markets started the new week on a positive note, displaying a calm demeanor. However, there's a significant split among Wall Street analysts regarding the Federal Reserve's potential policy direction next year. This debate is particularly timely, given the recent volatile movements in Treasury bonds. The upcoming week promises to shed more light on this matter, with the release of the critical Consumer Price Index (CPI) report and a substantial amount of commentary from Federal Reserve officials.
moreLast Week on WallStreet - November 11th, 2023
S&P 500: 1.31% DOW: 0.65% NASDAQ: 2.37% 10-YR Yield: 4.63%
moreThis Week on Wall Street - Week of November 6th
Stocks and bonds steadied after last week's blockbuster rally. Investors are now carefully analyzing the undercurrents to determine whether the recent upswing was merely a position readjustment or the harbinger of a sustained rally as the year draws to a close. Fresh economic indicators, coupled with a more accommodative tone from Federal Reserve officials, have kindled optimism among market participants that the interest rates are reaching their peak.
moreLast Week on WallStreet - November 4th, 2023
S&P 500: 5.85% DOW: 5.07% NASDAQ: 6.48% 10-YR Yield: 4.55%
moreThis Week on Wall Street - Week of October 30th
Coming off another week of losses, equities bounced from oversold levels. Still, we are facing a third straight month of declines on the backs of a surge in bond yields and disappointing earnings out of the mega-cap names.
moreLast Week on WallStreet - October 28th, 2023
S&P 500: -2.53% DOW: -2.14% NASDAQ: -2.62% 10-YR Yield: 4.84%
moreThis Week on Wall Street - Week of October 23rd
Coming off losses in both stocks and bonds, we opened the week negative as the ten-year treasury yield touched 5%. As trading progressed, yields came off their highs as stocks crept into positive territory. The bears and bulls are in a turf battle as 4,200 on the S&P 500 remains a strong support level.
moreLast Week on WallStreet - October 21st, 2023
S&P 500: -2.39% DOW: -1.61% NASDAQ: -3.16% 10-YR Yield: 4.92%
moreThis Week on Wall Street - Week of October 16th
Stocks halted their 2-day slide, as investors gear up for a wave of earnings reports. It has been a bumpy ride for traders over the last couple of weeks with larger moves and reversals as volatility ratchets up. The S&P 500 couldn't surge past resistance and remains in a volatile short-term trading range of around 4,400.
moreLast Week on WallStreet - October 14th, 2023
S&P 500: 0.45% DOW: 0.79% NASDAQ: -0.18% 10-YR: 4.63%
moreThis Week on Wall Street - Week of October 9th
We enter the week coming off a large bullish reversal in equities on Friday. Yet, over the weekend, Hamas' surprise attack on Israel increased anxiety among traders causing risk on assets to stumble out of the gates. Defense and oil names surged, while safer assets like gold and bonds also rose.
moreLast Week on WallStreet - October 7th, 2023
S&P 500: 0.48% DOW: -0.30% NASDAQ: 1.66% 10-YR: 4.78%
moreThis Week on Wall Street - Week of October 2nd
We enter the week with stocks and bonds down even as Congress averted the government shutdown. The rate on the 10 YR Treasury hit 4.7% during a roundtable discussion with Jerome Powell and Patrick Harker as investors tried to look for clues on how much higher the Fed will go. It seems we are finally seeing more people wake up to the reality that rates will be higher for longer than previously thought.
moreLast Week on WallStreet - September 30th, 2023
S&P 500: -0.74% DOW: -1.34% NASDAQ: 0.08% 10-YR: 4.57%
moreThis Week on Wall Street - Week of September 25th
We enter the week with equities flat to down. This comes after the Fed's hawkish pause last week causing investors to readjust expectations on the path of rates. The bond market selloff entered its fourth week as the 10-year treasury yield breaks past 4.5%, the highest level since 2007.
moreLast Week on WallStreet - September 23rd, 2023
S&P 500: -2.93% DOW: -1.89% NASDAQ: -3.61% 10-YR: 4.44%
moreThis Week on Wall Street - Week of September 18th
We enter the week with small moves across asset classes. These types of moves on lower-than-average volume will likely be the theme until the key Fed decision on Wednesday.
moreLast Week on WallStreet - September 16th, 2023
S&P 500: -0.16% DOW: 0.12% NASDAQ: -0.39% 10-YR: 4.32%
moreThis Week on Wall Street - Week of September 11th
We enter the week with equities rebounding after a slow burn of selling throughout last week. Big tech is leading the gains as the dollar falls. Over the last 6 weeks, the S&P 500 has been down 4 of them. Still, the index is up double digits on the year.
moreLast Week on WallStreet - September 9th, 2023
S&P 500: -1.29% DOW: -0.75% NASDAQ: -1.93% 10-YR: 4.26%
moreThis Week on Wall Street - Week of September 5th
Friday's jobs report print was perceived as bullish for markets during early trading. Ultimately the fade into the close going into Labor Day weekend continued during the shortened trading week. This morning we received a stronger-than-expected report on the US service industry, causing a move lower in stocks and higher in bond yields. This is on bolstered speculation that the Federal Reserve will keep rates higher for longer.
moreLast Week on WallStreet - September 2nd, 2023
S&P 500: 2.50% DOW: 1.43% NASDAQ: 3.25% 10-YR: 4.17%
moreThis Week on Wall Street - Week of August 28th
We are coming off a volatile week in markets as investors try to price in Jerome Powell's comments at Jackson Hole. Still, in the dog days of summer, trading volume is extremely low, dampening any opinions on the bull or bear sides. For investors, this means data like Friday's labor report could be crucial.
moreLast Week on WallStreet - August 26th, 2023
S&P 500: 0.82% DOW: -0.45% NASDAQ: 2.26% 10-YR: 4.24%
moreThis Week on Wall Street - Week of August 21st
Newton scores are showing continued weakness across broad equity markets. From a relative strength perspective, we are seeing slightly better readings by Large Caps compared to their smaller counterparts.
moreLast Week on WallStreet - August 19th, 2023
S&P 500: -2.11% DOW: -2.21% NASDAQ: -2.59% 10-YR: 4.25%
moreThis Week on Wall Street - Week of August 14th
In aggregate, Newton scores reflect deterioration for broad equity markets with the exception of renewed relative strength observed in Forgein Developed markets. Recent turbulence in stocks has prompted investors to seek safety, allowing Fixed Income funds to improve over the last week. Beneath the surface, tactical reallocations from struggling areas of the market toward defensive positioning have instigated an improvement in Healthcare stocks.
moreLast Week on WallStreet - August 12th, 2023
S&P 500: -0.31% DOW: 0.62% NASDAQ: -1.90% 10-YR: 4.17%
moreThis Week on Wall Street - Week of August 7th
The weakening of Newton scores continued into this week on the main equity indices. Over in Fixed Income, we are still seeing the rise in yields affect on bonds as they remain in a downtrend. Beneath the surface, we are seeing strength out of Energy while the rest of the market is weaker.
moreLast Week on WallStreet - August 5th, 2023
S&P 500: -2.27% DOW: -1.11% NASDAQ: -2.85% 10-YR: 4.06%
moreThis Week on Wall Street - Week of July 31st
Although markets continued their push higher, our model scores are starting to weaken slightly. Large Caps are beating their smaller-sized counterparts while domestic markets have stronger scores than foreign markets. Beneath the surface, we are seeing strength out of Energy and Industrials.
moreThis Week on Wall Street - Week of July 24th
Although large caps remained level with a high Newton score, mid and small caps faded slightly. Overseas, momentum has stalled as the dollar abruptly stopped its decline. Among sectors, we are seeing fresh names on top as Staples, Energy, Financials, and Industrials lead the pack. Communications and Real Estate are at the bottom of the pile.
moreThis Week on Wall Street - Week of July 17th
All 3 major market cap indices have high Newton scores, a positive signal. However, if we dig a little deeper we notice that Small Caps have a slight edge as the rate of change is increasing compared to Large Caps. Overseas, we observe neutral readings with increasing momentum. Our models are still favoring equities over fixed income.
moreThis Week on Wall Street - Week of July 10th
Our models favor domestic indexes over foreign ones. Large-cap names have a slight edge over small caps, as the gap between the two narrows.
moreLast Week on WallStreet - July 8th, 2023
S&P 500: -1.16% DOW: -1.96% NASDAQ: -0.92% 10-YR: 4.05%
moreThis Week on Wall Street - Week of July 3rd
Our models held steady on domestic indexes, still favoring growth and larger cap names. Overseas, poor data out of Europe sent Foreign Developed names lower.
moreThis Week on Wall Street - Week of June 26th
Our models held steady on domestic indexes, still favoring growth and larger cap names. Overseas, poor data out of Europe sent Foreign Developed names lower.
moreLast Week on WallStreet - June 24th, 2023
S&P 500: -1.39% DOW: -1.67% NASDAQ: -1.44% 10-YR: 3.74%
moreThis Week on Wall Street - Week of June 20th
Our model readings have seen much rotation in the last few weeks. Currently, we are seeing a return to mega-cap growth names as mid and small-cap names take a pause.
moreThis Week on Wall Street - Week of June 12th
Our model readings are finally seeing a rotation of strength in other areas of the market. This comes after mega-cap growth names dominated index returns over the last couple of months.
moreThis Week on Wall Street - Week of June 5th
Our model readings slipped on the dominant large-cap index level yet beaten-up areas of the market are showing positive rate of changes in their readings.
moreThis Week on Wall Street - Week of May 30th
Although market indexes were up last week, our model readings slipped outside of large-cap growth and technology.
moreThis Week on Wall Street - Week of May 22nd
Our model readings are improving from last week after optimism grew rapidly on debt ceiling talks.
moreThis Week on Wall Street - Week of May 15th
Our model readings are holding steady from last week after showing some exhaustion signals. We remain in this tight trading range as the theme in the overall market remains the same; large caps over small caps and value over growth.
moreThis Week on Wall Street - Week of May 8th
Our model readings are showing some exhaustion signals from last week across the board, yet the theme from last week remained; Large caps are holding strong against small caps while growth is beating value.
moreThis Week on Wall Street - Week of May 1st
Our model readings slightly improved as the theme from last week remained; Large caps are holding strong against small caps while growth is beating value.
moreLast Week on WallStreet - April 29th, 2023
S&P 500: 0.87% DOW: -0.18% NASDAQ: 1.28% 10-YR: 3.45%
moreThis Week on Wall Street - Week of April 24th
Our model readings from last week held steady as mid and small-cap areas gained some steam from low levels.
moreLast Week on WallStreet - April 22nd, 2023
S&P 500: -0.10% DOW: -0.23% NASDAQ: -0.42% 10-YR: 3.57%
moreThis Week on Wall Street - Week of April 17th
We are seeing little changes in our model readings from last week as mid and small-cap areas lag behind large caps.
moreThis Week on Wall Street - Week of April 10th
We are seeing a retreat in our model readings in mid and small-cap areas.
moreLast Week on WallStreet - April 8th, 2023
S&P 500: -0.10% DOW: -0.63% NASDAQ: -1.10% 10-YR: 3.29%
moreThis Week on Wall Street - Week of April 3rd
We are seeing stronger readings as we cap off the first quarter of 2023.
moreThis Week on Wall Street - Week of March 27th
We are seeing improvement from very low levels in our model readings led again by the large caps.
moreThis Week on Wall Street - Week of March 20th
Over the weekend, UBS agreed to buy its rival Credit Suisse for $3.2B as regulators played a key role in the deal to stem contagion across the banking system.
moreLast Week on WallStreet - March 18th, 2023
S&P 500: 1.43% DOW: -0.15% NASDAQ: 4.41% 10-YR: 3.39%
moreThis Week on Wall Street - Week of March 13th
Last night, we got an answer on the fallout and where we are headed on the second-largest bank failure in the US.
moreLast Week on WallStreet - March 11th, 2023
S&P 500: -4.55% DOW: -4.44% NASDAQ: -4.71% 10-YR: 3.69%
moreThis Week on Wall Street - Week of March 6th
We are seeing some strength start to build out of risk on markets after hitting short-term oversold readings. Investors will be clued into the labor market's strength as the jobs report comes out on Friday.
moreThis Week on Wall Street - Week of February 27th
Although it was only four days of trading, we saw the worst week for markets since December as data mounted that the Fed would likely remain restrictive for longer.
moreLast Week on WallStreet - February 25, 2023
S&P 500: -2.67% DOW: -2.99% NASDAQ: -3.33% 10-YR: 3.95%
moreThis Week on Wall Street - Week of February 21st
The chop persists and we enter the short trading week on a more unstable footing.
moreLast Week on WallStreet - February 18, 2023
S&P 500: -0.28% DOW: -0.13% NASDAQ: 0.59% 10-YR: 3.83%
moreThis Week on Wall Street - Week of February 13th
We hope everyone enjoyed the big game last night. Only 205 more days until the 2023 season kicks off!
moreLast Week on WallStreet - February 11, 2023
S&P 500: -1.11% DOW: -0.17% NASDAQ: -2.41% 10-YR: 3.74%
moreThis Week on Wall Street - Week of February 6th
Our Newton models showed incremental strength in domestic risk-on markets while fixed-income areas remained weak.
moreLast Week on WallStreet - February 4, 2023
S&P 500: 1.62% DOW: -0.15% NASDAQ: 3.31% 10-YR: 3.53%
moreThis Week on Wall Street - Week of January 30th
Our Newton models have started to show recovery from low levels in risk on areas.
moreThis Week on Wall Street - Week of January 23rd
After the extremely volatile shortened trading week our Newton models have started to show deterioration.
moreThis Week on Wall Street - Week of January 17th
On the shortened trading week, our Newton models are starting to show strength in equities while fixed-income areas remain mostly unchanged.
moreThis Week on Wall Street - Week of January 9th
Our Newton models continue to show poor readings for equity indices.
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