Economic Perspective |April 2024 Chartbook
The nation's economic growth slowed to an annualized rate of 1.6%. A surge in imports, which are subtracted from GDP, reduced first-quarter growth by nearly 1 percentage point. Growth was…
April 2024 Market Outlook
After a particularly strong first quarter, the equity market is already in a correction, in our view. We continue to believe the S&P 500 can reach 5600-5800, for an additional…
Economic Perspective |March 2024 Chartbook
Gross domestic product increased at a 3.4% annualized rate last quarter, revised up from the previously reported 3.2% pace, the Commerce Department's Bureau of Economic Analysis said in its third…
March 2024 Market Outlook
Many industries that are lagging the S&P 500 in performance are rallying, a sign that the rally is broadening out. The rally is taking place not only in the U.S.,…
Economic Perspective |February 2024 Chartbook
U.S. economic growth in the fourth quarter was revised slightly lower to a 3.2% annualized rate, but its was not all bad news as growth was wider spread than expected,…
February 2024 Market Outlook
The U.S. still dominates world indices, but when we compare the S&P 500 to the MSCI All Country World Index (ACWI), the S&P had a significant breakout in 2015 from…
Economic Perspective |January 2024 Chartbook
The U.S. economy grew faster than expected in the fourth quarter, amid strong consumer spending, with growth for the full year coming in at 2.5%. The Commerce Department's advance fourth-quarter…
January 2024 Market Outlook
The year began by digesting short-term overbought conditions in both equities and Treasuries after a sharp rally in those markets that ran for 2½ months. We believe any corrections provide…
Economic Perspective | December 2023 Chartbook
The nonpartisan Congressional Budget Office (“CBO”) projects U.S. economic growth will slow to 1.5% in 2024, with the unemployment rate seen rising to 4.4% from what it estimates will be…
Economic Perspective | November 2023 Chartbook
The U.S. economy grew at an annualized rate of 5.2% in Q3 as businesses built more warehouses and accumulated equipment. However, momentum appears to have since waned as higher borrowing…
2024 Market Outlook
We believe 2024 will be the year that the Bull returns to the bond market, and that the Bull keeps charging ahead for equities with the S&P 500 reaching new…
Economic Perspective | October 2023 Chartbook
The U.S. economy grew at an annualized rate of 4.9% in the third quarter as higher wages helped fuel consumer spending and businesses restocked at a brisk clip to meet…
October 2023 Market Outlook
As we move into November and December, the strongest seasonal period for the equity market is upon us. October is known for its higher-than-average volatility, but more importantly, it is…
Economic Perspective | September 2023 Chartbook
The U.S. economy maintained a solid pace of growth in the second quarter and activity appears to have accelerated this quarter, but an ongoing strike by auto workers is dimming…
September 2023 Market Outlook
There is always the unexpected! Of all things, Taylor Swift’s Eras Tour and Beyoncé’s Renaissance Tour have added significantly to consumer spending over the past several months, resulting in stronger…