Research & Market Insights

04.13 2009

Market Update – April 13, 2009

The current bear market rally (or new bull market, if you appear on television), continues.  For the fifth consecutive week, stocks finished higher.  As of today’s close, the S&P 500 has shot up 27% in 25 trading sessions, a buying panic sparked by a string of news that is “less bad”.  Last week’s positive surprise…

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03.28 2009

Market Update – March 29, 2009

As winter slowly gives way to spring, a positive change in confidence among investors has quickly emerged.  Equity markets are enjoying a strong relief rally on a pace that is the fastest since 1938.  In the 13 trading days since the S&P 500 Index closed at a new bear market low of 676 on March…

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03.01 2009

Weekly Market Update – March 2, 2009

The S&P 500 Index broke to a new bear market low on Friday as the U.S. government took a 36% equity stake in Citigroup, and an updated GDP report showed the U.S. economy contracted at a stunning 6.2% annual rate in the fourth quarter of 2009.  The decline on Friday was the ninth in ten…

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02.22 2009

Weekly Market Update – February 22, 2009

Increasing fears that the U.S. government will soon move to nationalize some of the country’s largest banks drove stocks to near their November lows.  The Dow Jones Industrial Average, at 7,365, now sits nearly 200 points below its November 20 low, and many foreign stock markets reached new lows last week.  The S&P 500 is…

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02.09 2009

Weekly Market Update – February 9, 2009

In the face of a string of troubling economic news, stocks enjoyed a strong rally last week in anticipation of the new Administration’s upcoming plan to address the financial crisis.  The NASDAQ led equity market performance with an 8% gain, with much of that earned following downbeat comments by Cisco Systems on Wednesday (Cisco finished…

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02.02 2009

Weekly Market Update – February 2, 2009

The first estimate of U.S. Gross Domestic Product for the fourth quarter of 2008 shows the economy fell off a cliff in the aftermath of the Lehman Brothers failure in September. Real GDP declined at a 3.8% annual rate in the quarter, which is the worst performance since 1982. This is a rapid deceleration in…

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01.26 2009

Weekly Market Update – January 26, 2009

Last week stocks continued the new year’s march downward even as the country celebrated the historic inauguration of President Barack Obama. In fact, markets greeted the inauguration with a 5% plus decline before rebounding later in the week. Plenty of disappointing corporate news played a significant role last week, including Bank of America’s need for…

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01.04 2009

Weekly Market Update – January 5, 2009

Global stock markets welcomed the new year with strong advances on the first day of 2009 trading, extending the gains achieved during the last week of 2008. The S&P 500 rose nearly 7% last week and is up 24% since the late-November bear market low. While stocks rallied, some of the shine came off U.S….

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12.13 2008

Weekly Market Update – December 15, 2008

Investors digested yet another dose of astounding news from the financial markets last week. Demand for U.S. Treasuries is so strong that yields on T-bills went negative for the first time ever. Imagine that: paying the U.S. government to hold your cash in an era of an exploding budget deficit. Treasury yields further out the…

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12.08 2008

Weekly Market Update – December 8, 2008

After a post-Thanksgiving holiday decline of over 7%, equity markets spent the rest of last week rallying in the face of ugly economic news. Last Monday, the National Bureau of Economic Research (NBER) announced the peak of economic activity occurred in December 2007, thus making the official declaration of a recession. Of course, the NBER…

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