Blog Center

Nov 08

Q3 Earnings results coming to a close

As of Friday, November 4th 83.5% of S&P 500 companies have reported Q3 earnings. How did the quarter go, and what have we learned? Let’s look at a few charts. Companies announcing earnings for Q3 2022 had a beat rate of 73% which seems like a solid number. But as... read more →
Nov 04
Nov 03

Harry Truman said it best

Perhaps one way to try and digest yesterday’s Fed announcement and the subsequent Powell press conference is to quote President Harry Truman. When speaking about his own economic advisors, Truman said he only wanted one-armed advisors, because the economists he had on staff were always saying “on one hand…but on... read more →
Nov 01
Oct 31

Seasonal “treat” ahead?

Today is Halloween, and so far it’s been a very spooky year for investors. Inflation, rate hikes, geopolitical conflict and recession fears have all been stirred up in a witches’ brew of volatility to drive equity and bond returns lower. But could the remainder of 2022 finally hold more “treat”... read more →
Oct 27

Three chart Thursday

The market has done a reasonably good job this week shaking off some big, large cap tech earnings misses. Weak ad trends at GOOG and MSFT and then last night’s big META whiff. AAPL and AMZON report tonite. The ability to advance when the news isn’t great is actually a... read more →
Oct 26

Other markets and the S&P

Inter-market relationships have been much more important for stocks than in past years. I have been highlighting in meetings, and most recently in the quarterly investment call, that the US Dollar is one of the key relationships for the direction of stocks. You can see it in the charts! The... read more →
Oct 26

Volatility goes two ways

Despite overwhelmingly bearish investor sentiment (or perhaps because of it), the S&P 500 index managed to rally 4.75% last week (and tacked on another 1.19% yesterday). What is perhaps even more impressive is the fact that last week was only the 4th best week for the stock market so far... read more →
Oct 21

Interim Q3 earnings update

Roughly 20% of companies in the S&P 500 index have reported Q3 results as of this morning. So far, the financial sector has taken center stage, with all the big banks reporting over the last week or so. Those reports were followed by investors very closely, as banks, more than... read more →
Oct 20

More demand destruction in housing

While the Fed continues to maintain its focus squarely on slowing inflation and employment, in the meantime it’s the housing market bearing the brunt of their demand destruction campaign. This week brought the latest evidence of a major slowdown unfolding. On Tuesday, the National Association of Home Builders released their... read more →