Weekly Highlights: July 29, 2019

Happiness = Reality - Expectations In the short to intermediate term, financial markets are directed by much the same formula: Market Direction equals Actual Results minus Consensus Expectations. The market closed at all-time highs this week as reality has exceeded expectations. As of two weeks ago, we expected overall earnings for S&P 500 companies [...]

2019-08-12T18:18:06+00:00July 29th, 2019|

Weekly Highlights: July 22, 2019

The market’s triumvirate, Federal Reserve Chairman Jerome Powell, President Donald Trump, and Satya Nadella, CEO of Microsoft, had a big day this past Thursday. Three forces reign supreme over the market: monetary policy, trade & fiscal policy, and earnings season. The markets continue to take their cue from developments on these three critical issues. [...]

2019-07-29T17:25:28+00:00July 22nd, 2019|

Weekly Highlights: July 15, 2019

U.S. equities continue to rally, with the Dow Jones Industrial Average (Dow) hitting new highs last week, crossing the 27,000 mark, and the S&P 500 crossing 3,000 for the first time, as investors reacted positively to Fed Chair Jerome Powell’s testimony to Congress. On the week, the Dow rose 1.5%, to 27,332 and the [...]

2019-07-22T16:04:00+00:00July 15th, 2019|

Weekly Highlights: July 8, 2019

“Good news is bad news” was the market’s initial reaction to Friday’s strong jobs number. The U.S. Labor Department reported that the economy added 224,000 jobs during the month of June, well ahead of expectations for 165,000 new jobs and far pacing 72,000 new jobs in May. A strong jobs number calls into question [...]

2019-07-15T19:34:54+00:00July 8th, 2019|

Weekly Highlights: June 24, 2019

Last Week: U.S. equities closed higher for the third straight week, with the Standard & Poor’s index (S&P500) hitting all-time highs, while the Dow Jones Industrial Average (Dow) and Nasdaq flirted with fresh new records. Although widely anticipated, the Fed’s signal regarding its openness to a rate cut this year was the main catalyst [...]

2019-07-08T14:55:14+00:00June 24th, 2019|

Haverford 2019 Summer Outlook

After a rough May that saw the S&P 500 index decline 6.5%, the stock market has impressively advanced to a new all-time high. Equally notable has been the breadth of the rally; all 11 S&P 500 sectors have participated. Although we cannot rule out a pullback (or even a correction), we believe the equity market is [...]

2019-06-21T15:47:17+00:00June 21st, 2019|

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