Research & Market Insights

06.11 2008

Market Update

The US economy has been helped by continued strength in the export sector. While most economists called for slowing, if not negative, GDP growth in the first quarter, the preliminary data showed a 0.6% increase. The final data for Q1 came in at a 0.9% increase. While the slowdown in housing and its ancillary industries…

Read More
05.09 2008

2008 Year-to-date Investment Performance

The S&P flirted with 1,400 for the first time since early January, closing at 1,385 with its best monthly return since 2003. The drivers for this price recovery have been the slew of positive first quarter earnings from the likes ofGoogle, Boeing and American Express. According to Bloomberg, 63% of the companies in the S&P…

Read More
04.18 2008

Market Update

U.S. stocks have rallied nearly 10% over the last month based on a handful of positive developments. First, the Federal Reserve-orchestrated buyout of Bear Stearns greatly reduced the probability of a financial system collapse. The President and Congress seemed committed to prevent a deep recession in this election year. In addition, many bank CEOs have…

Read More
04.08 2008

2008 Year-to-date Investment Performance

Our 2008 market strategy called for a difficult start to the year due to credit market troubles and fears of recession. The month of March was filled with headlines consistent with this theme: the emergency bail-out of Bear Stearns by JPMorgan and the Federal Reserve; the Fed’s opening of the discount window to non-banks; lower…

Read More
03.17 2008

2008 Year-to-date Investment Performance

Equity markets have struggled to a poor start to 2008 due to continued concerns in the credit markets and fears of a recession.  Virtually all asset classes aside from commodities and Treasury securities have posted declines this year.  However, Kanaly’s equity models have delivered strong outperformance in this difficult market environment.  Our three individual stock…

Read More
03.04 2008

Market Update

After rallying for nearly three weeks, equity markets sold off sharply on Friday to end the month in the red.  Dismal economic news including higher inflation readings, continued declines in home prices, and worse than expected orders for durable goods indicate the U.S. economy is brushing with a recession.  In addition, crude oil neared its…

Read More
02.06 2008

Market Update

The January employment report released Friday by the Labor Department indicates the U.S. economy is teetering on the edge of recession. Assuming this data does not get revised upward in the months ahead, the economy lost jobs in January (-17,000) for the first time since August 2003. Employment had been one of the few remaining…

Read More
01.25 2008

Market Update

Wednesday’s markets initially sold off and tested the low point we saw on Tuesday. However, Tuesday’s low held and the market rallied strongly.  We believe this marker a near term low, not the bottom from which a major bull market will start. The tax stimulus and Fed action is welcome, but may act more as…

Read More
01.22 2008

Market Update

Given the action in overseas markets today and futures trading on U.S. markets, it is likely that we will see a substantial decline when trading resumes tomorrow.  European markets declined 5%-7% today, and S&P 500 Futures closed about 4.5% below Friday’s 1325 close.  Below are current thoughts: Our 2008 market outlook called for first half…

Read More
01.10 2008

Investment Landscape is Changing in 2008

The bull market that began in 2003 was supported by solid fundamentals including robust global economic growth, soaring corporate earnings, and a strong appetite for risk. Capital was readily available for investments in all corners of the world as cash-rich investors sought attractive returns. Money could be borrowed cheaply, often under favorable terms, encouraging excessive…

Read More

Subscribe To Our Blog

Get the latest research and market insights from Kanaly Trust.