Haverford 2019 Fall Outlook

The U.S. stock market reminds us of a boxer taking blow after blow, round after round, yet still able to stand at the end of each round looking for the chance to counter-punch. Despite “punches” to the stock market like tariffs, the inverted yield curve, slower economic growth, and foreign currency pressure, the market has [...]

2019-09-17T15:13:24+00:00September 17th, 2019|

Weekly Highlights: August 26, 2019

On Friday, The Standard & Poor’s (S&P 500) index closed in negative territory for the fourth straight week thanks to the hither and thither China trade negotiations.  This morning, President Trump indicated the Chinese called not once, but twice, offering to come back to the negotiating table.  Chinese representatives have denied the calls occurred.  [...]

2019-09-09T19:02:16+00:00August 26th, 2019|

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|

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