Still Whistling Past But With A Limp
March 3, 2025 Good morning, Investors have felt nervous and uncertain since the inauguration. Markets didn’t begin to reflect that uncertainty until last week when the equity market volatility index (VIX) climbed above that “Fear” threshold of 20. Friday’s late afternoon parabolic rally in stocks (the S&P 500 Index ended the day +1.59%) relieved a […]
February 2025 Recap
Economy In February 2025, the U.S. economy exhibited steady non-inflationary growth despite rising political uncertainty and back-to-back weak consumer sentiment readings that pointed to much higher inflation expectations. Furthermore, the labor market showed signs of cooling, as job growth slowed to 143,000 in January, down from 307,000 in December and 261,000 in November. Despite the […]
Economic Commentary – March 3, 2025
The data keeps piling up on the side of economic caution and weakness for this first quarter of 2025. Retail sales, residential real estate (including home improvement), consumer spending (including on services), business spending, and inventories all have indicated a slower pace for US economic activity for the start of the year, coming off a […]
Investment Commentary – March 3, 2025
Equities The S&P 500 returned -1.0%; the damage would have been worse if not for a 1.6% window-dressing rally in the final two hours of month-end trading. The NASDAQ dropped -3.5% as the Mag 7 stocks fell 4.0% for the week. Treasury yields fell to their lowest level of the year amid a host of […]
IRS Layoffs During Tax Season: What It Means for Your Filing and Audits
IRS Layoffs During Tax Season The administration’s cost-reduction plan has led to IRS staff layoffs, affecting approximately 6,700 employees right in the middle of tax season. The new DOGE cuts primarily impact the Small Business/Self-Employed Division, which focuses on compliance for businesses with under $10 million in assets. As a result, those who file their […]