Friday's selloff suggests that investors are taking some profits in tech stocks and reallocating money into value-oriented stocks. This rotation is not surprising, especially as we head into year-end. We still expect tech stocks to lead the market in 2026 thanks to the promise of AI. With two weeks [...]

While the government shutdown is over, there continues to be an economic data blackout that will take some more time to work itself out and this is partly why stocks have been range-bound. This data drought comes at a time when there were significant worries about the state of [...]

The backdrop for stocks appears to be more favorable with the recent move lower in the 10-year Treasury yield, which may make stocks more attractive. We are seeing the typical seasonal volatility in October, but the recent swings have been relatively shallow by historical standards, as the buy the dip mentality appears to [...]

Stocks have been bucking the historical September weakness so far, thanks to an extremely favorable setup with Federal Reserve rate cuts, strong earnings, solid economic growth and muted inflation. The stock market's strength is making it tougher to put new money to work, as valuations are rising, which makes [...]

Thursday's jobless claims data was stronger-than-expected, which is yet another data point suggesting that there are cracks beginning to form in the labor market. On the eve of Jerome Powell's closely watched commentary in Jackson Hole, investors are looking for assurance from Powell that a rate cut is likely at [...]

The EU trade deal only fuels this bull market as a major uncertainty has now been removed for investors. The deal shows that serious progress is being made on the trade situation and helps to justify the stock market’s strong gains since the April lows. It appears that many [...]

If strong: Thursday’s stronger-than-expected PPI shows that inflation data remains volatile and that the inflationary effects from tariffs that many were worried about may be starting to show up in the data. Thursday’s strong PPI adds confusion to the inflation picture, especially after Wednesday’s softer-than-expected CPI. It may take [...]

The stock market's rally has legs, as the trade negotiation with China was seemingly the toughest one on the docket, and the idea that there has been this much progress on the negotiations over such a short period of time, suggests that a resolution may be on the horizon. [...]

(1) The stock market's tariff-driven volatility has now started to incorporate some Federal Reserve-driven volatility, as it remains clear that the Fed is not coming to the rescue by cutting rates at this time, and that's making investors nervous. We caution investors to be careful what they wish for when [...]