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Weekly Market Commentary

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Results: 20 Articles found.

IRRATIONAL EXUBERANCE PART TWO?

Valuations are elevated, but there is very little relationship between stock valuations and performance in the short term. Consumer confidence breaking out to new post-recession highs confirms the bull market in equities.

CORPORATE BEIGE BOOK: BETTER TONE, LITTLE ELECTION TALK

Our analysis of third quarter earnings conference call transcripts indicates sentiment among corporate executives improved. For all of the media attention on the U.S. election, corporate executives spent surprisingly little time on the topic during earnings conference calls.

HOLIDAY SHOPPING PREVIEW

The National Retail Federation, a trade organization for retailers that tallies up holiday shopping totals each year, forecasts a 3.6% increase in holiday shopping this year. We see several reasons to expect consumers to potentially open up their wallets this holiday season, including low financial obligations, steady job and wage gains, and high consumer confidence.

WHAT A WEEK

We reflect on last week’s surprising stock market reaction to Donald Trump’s unexpected election victory. The S&P 500 gained 3.8% last week, its best since October of 2014. The Dow Industrials and small cap Russell 2000 delivered their best weeks since December of 2011.

EARNINGS UPDATE: END OF A LONG DROUGHT

The earnings recession was not quite as long as the Cubs’ World Series drought, but we — like Cubs fans — are glad the drought is over. Corporate America ended its earnings drought in style, with S&P 500 earnings tracking to a 4% year-over-year increase for Q3 2016, well above prior estimates.

 
Results: 20 Articles found.
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