Stocks added to strong October gains in November as the S&P 500 returned 5.6% for the month, leaving the index down 13.1% year to date. The Dow Jones Industrials fared slightly better, gaining 6%, while the Nasdaq added 4.5%. The Dow, up more than 20% from its...
Economic and corporate data support the initial strong reads on holiday retail sales despite the macro headwinds, reinforcing the idea that today’s consumer is in a better position than usual at this point in the business cycle. However, consumers were likely tapping...
Recent inflation data has tempered expectations for future Federal Reserve tightening, including a potential peak in the terminal rate near 5.0% in May or June of 2023. While the market has welcomed this news, history suggests the path to a Fed pivot could be volatile...
The growth vs. value debate has been pretty one-sided in 2022, with value outperforming growth for a sustained period for the first time in almost 15 years. However, the debate is heating up as investors begin to consider whether the pendulum will swing back to growth...
Key changes from October report: Downgrading real estate view from positive to neutral. After ending September with a 24% loss for the year, stocks surged in October as the S&P 500 returned 8.1%. That strong gain trailed the Dow Jones Industrial Average, which...
