‘Sell in May and go away’? Wealth advisors say, maybe not
Chief Investment Officer Stuart Katz was featured in InvestmentNews discussing the seasonal investing adage, “Sell in May and go away.” “While seasonality can influence sentiment, long-term fundamentals are what ultimately drive returns,” said Katz. Read more here.
Investment Commentary – April 28, 2025
Executive Summary The “soft” negative survey data has yet to show up in the “hard” economic data. The U.S. Market preliminary manufacturing PMI came in above estimates at 50.7. The services side came in below estimates but still an expansionary 51.4. U.S. equities outperformed European stocks last week but are still underperforming by 17% YTD. […]
US stocks nosedive as Trump harangues Powell
Chief Investment Officer Stuart Katz was quoted in Reuters discussing market volatility following President Trump’s comments about Fed Chair Powell. “President Trump’s threat to fire Fed Chair Powell adds a new vector of uncertainty to the mix,” said Katz. “Right now, the market is feeling its way through the dark and doesn’t know quite how […]
Investment Commentary – April 21, 2025
Executive Summary Last week was another round of “headline roulette” where Trump claimed a trade deal with the EU was imminent (though he provided no details or timeline); Trump was more specific about a U.S.-Ukraine minerals accord, saying a deal would be signed in a week; Trump addressed Powell on social media, saying his removal […]
Investment Commentary – April 14, 2025
Executive Summary A few themes jumped out to us last week including softer inflation readings and encouraging bank earnings season reports and guidance. The parts of the consumer price index (CPI) report that had the softest pricing were more discretionary items like airfare and lodging away from home. Shelter came in at only 0.2% m/m, […]
Investment Commentary – April 7, 2025
Executive Summary Corporates and consumers have become more conservative recently based on recent data, which has yet to reflect the full impact of the recent Tariff Tax Turmoil. The good news is that we have a largely domestic, services-oriented economy, and while tariffs are disruptive in the short-term, the impact can be contained if the […]
March Recap: The Market Navigates Economic and Policy Uncertainty
Monthly Market Summary Stocks fell in the first quarter after two consecutive years of gains exceeding +20%. The year started off strong, with the S&P 500 reaching a new all-time high in mid-February. However, sentiment shifted late in February amid rising policy uncertainty in Washington, and the S&P 500 ended the quarter down. There are […]
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 […]
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.
February Recap: The Market Navigates Economic and Policy Uncertainty in February
Monthly Market Summary Stocks and Bonds Move in Opposite Directions Amid Market Rotation Stocks traded lower in a late-month sell-off as sentiment weakened. The S&P 500’s decline erased most of its post-election gains, which had been driven by expectations for stronger growth and deregulation under the new administration. Smaller companies underperformed, with the Russell 2000 […]