Recent News and Insights
Market Commentary: September 23, 2026
The Federal Reserve's latest rate hike was not simply about inflation. Chairman Kevin Warsh’s reputation for independence was also on the line, with some experts calling the Fed’s policy move a “credibility hike.” Without the overwhelming pressure of market expectations, would the Fed still have tightened interest rates?
Market Commentary: August 27, 2026
Last week’s earnings results from several major retailers gave an important fresh look into how U.S. consumers may be feeling—and spending. The major retailers generally confirmed the view of steady consumer spending, reporting solid results. However, as expected, there were some signs of consumers becoming more cautious.
Why the Treasury market’s newfound calm could break down in September
MarketWatch - Hank Smith, Director and Head of Investment Strategy, was quoted in a [...]
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The S&P 500 hit an all-time high six days into a government shutdown. It seems nothing will slow this market down as long as three critical ingredients are in place: 1) easing monetary policy, 2) strong earnings growth, and 3) AI optimism. At least for now, weaker employment data, geo-politics, and weak consumer sentiment just doesn't matter.
During the third quarter of 2025, the S&P 500 rose nearly 8%, recorded 24 all-time high closes, and was never down more than 2%. Heading into the final quarter of the year we anticipate three major trends from the third quarter will continue to power the market’s steady ascension.
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The economic data released on Friday, August 29th was in line with expectations. Headline Personal Consumption Expenditure Price Index (PCE), the Fed’s preferred measure of inflation, increased 2.6% year-over-year while Core PCE, which excludes food and energy prices, increased 2.9%. Personal income was up 0.4% compared to the previous month while personal spending increased 0.5%.
Jason Salmon, CFP®, Wealth Planner jsalmon@haverfordquality.com Unpacking the One Big Beautiful Bill Act After months [...]
The hype in Artificial Intelligence (AI), what many say, is a modern-day gold rush, is amassing trillions of dollars of investment. A recent UN Trade and Development (UNCTAD) report projects the global AI market will grow from $189 billion in 2023 to $4.8 trillion by 2033; massive gains and insatiable demand is being seen in all corners of the industry.
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During the final week of July, investors received a significant amount of news and data. Outlined below are four developments shaping market conditions in the near term, along with a reminder that, despite the news, it is almost always an opportune time to invest.
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The stock market continues to trade near all-time highs in conjunction with strength in the U.S. economy. Despite persistent concerns about inflation pressures and slowing growth (i.e. stagflation), the data continues to tell a more constructive story— one of cautious optimism and a consumer that remains engaged.
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As of Tuesday morning, July 15th, second quarter 2025 earnings reporting season is off to a solid start with several high-profile financial stocks announcing results that exceeded expectations. S&P 500 second quarter earnings are expected to grow 4.5% year-over-year, with earnings growth accelerating into the second half of 2025. Overall, investors expect corporate earnings to grow 9% in 2025, and 14% in 2026, on top of last year’s 11% earnings growth. This positive earnings forecast is one of many supporting factors propelling markets to all-time highs.
