Market Insights – Week Ahead: July 22, 2024
After the first debate between President Joe Biden and former President Donald Trump, the equity market began to price in a win for Trump. This trade got a bump after…
Economic Perspective | June 2024 Chartbook
The U.S. economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022. The first quarter's GDP growth marked a sharp pullback from…
June 2024 Market Outlook
Artificial intelligence (AI) is the elephant in the room that everyone DOES want to talk about. And they should… because it’s still a challenge for investors to get their heads…
Economic Perspective |May 2024 Chartbook
Consumer spending slowed in the first quarter, bringing U.S. GDP growth down to a 1.3% annual rate. The number matched forecasts and is down from the advance estimate of 1.6%.…
May 2024 Market Outlook
Historically, April has proven to be a down month, so the 5% correction the market experienced during the month is not out of line. (We typically see 5% corrections three…
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…