Market Recap: April 3, 2025
Watch Chief Economist Jeanette Garretty and Chief Investment Officer Stuart Katz discuss the recent tariffs announcement and its impact on markets.
Investment Office Quick Thoughts: April 3, 2025
We finally received the details on the scope of the Trump Administration Tariffs, and it’s beyond market consensus. Risk markets currently do not like the announcement, with stock futures currently down and the NASDAQ leading markets lower. Copper and oil are also falling in post-market trading, suggesting concerns about dimmer growth prospects. The Asia open seems more muted than the headlines would potentially justify.
Investment Commentary – March 31, 2025
Executive Summary Last week, stocks declined, and bonds rallied as fresh signs of economic weakness and renewed inflation fears disturbed markets. The S&P 500’s closed down 4.4% over the quarter. In particular, Tech Mega-Caps were hit hard. Meanwhile, the yield on 10-year Treasuries fell approximately 10 basis points to ~4.25% as investors sought safety. A […]
Investment Commentary – March 24, 2025
What Happened US equity markets finished the week up after four consecutive weeks of negative returns. Markets were focused on the Fed’s Summary of Economic Projections, which showed that the Fed expected slightly slower economic growth and slightly higher inflation. However, Chairman Powell calmed market fears at the news conference after the FOMC meeting, where […]
Investment Commentary – March 17, 2025
What Happened The S&P 500 fell into “correction” territory (a drop of 10% from a recent peak) as markets continue to worry that uncertainties and potential inflation due to tariffs and the administration’s heavy-handed job and spending cuts will weigh on economic growth and, in turn, on corporate earnings. Wall Street analysts have begun reducing […]
Understanding the Current Market Selloff – March 11, 2025
Stocks started 2025 trading higher but have since pulled back. The S&P 500 has declined more than -8% from its all-time high on February 19th, lowering its year-to-date return to -5% (Figure 1). The Nasdaq 100, an index of technology and growth stocks, is down -7% year-to-date, while the small-cap-focused Russell 2000 has fallen -9%. The Magnificent 7, a group that includes Microsoft, Apple, Meta, Alphabet, Amazon, Nvidia, and Tesla, has declined nearly -15%. Given the recent volatility, our team wanted to discuss the current environment and provide a market update.
Investment Commentary – March 10, 2025
Equities The S&P 500 returned -3.1% as uncertainty over tariffs and weak economic data roiled markets. The U.S. dollar saw its longest losing streak since last September, ending the weak down 3.5% while treasury yields climbed amid worries that tariffs would spark inflation. The ‘Magnificent 7’ stocks again dragged on the market, returning -4.5%. Financials […]
March Madness – Short-Term Pain for Long-Term Gain?
By Stuart Katz, Chief Investment Officer March 5, 2025 -March Madness and market uncertainty share striking parallels in their unpredictability and high stakes. The NCAA basketball tournament, known for its “Cinderella stories” and upsets, is a single-elimination event where even top-seeded teams can fall unexpectedly. Similarly, financial markets operate under constant uncertainty, with prices influenced […]
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 […]
Investment Commentary – February 24, 2025
Executive Summary The S&P 500 hovered near its all-time highs, while the bond market ended the week with gains (price up / Yield down) as weaker-than-expected retail sales rekindled hopes for Federal Reserve rate cuts. A rally in Treasuries drove the 10-Year Yield below 4.5%, marking its fifth consecutive week of gains—the longest streak since […]
2025 Rate Cut Outlook: The Fed on Hold – What Will Investors Focus On?
By the Robertson Stephens Wealth Management, LLC Investment Office In recent years, the Federal Reserve carried out one of the fastest rate-hiking campaigns in history to bring inflation down from a multi-decade high. After holding rates high for over 12 months, the central bank started its current rate-cutting cycle in late 2024, lowering rates by […]
Investment Commentary – February 18, 2025
Executive Summary The S&P 500 hovered near its all-time highs, while the bond market ended the week with gains (price up / Yield down) as weaker-than-expected retail sales rekindled hopes for Federal Reserve rate cuts. A rally in Treasuries drove the 10-Year Yield below 4.5%, marking its fifth consecutive week of gains—the longest streak since […]