Stocks Look Oversold, but Breadth Is Still a Concern
OVERVIEW U.S. stocks had a choppy week that saw the S&P 500 fall 1.22%, the Dow drop 0.91%, and the Nasdaq decline 2.62%. Growth stocks saw the most selling, down 2.29% on the week, whereas value stocks fell 1.22%. International stocks were mixed. The MSCI...
Going to Work
The labor market continues to improve in America. Our chart above shows that initial weekly jobless claims, a proxy for layoffs, fell to just 199,000 recently. That’s the lowest it’s been since the pandemic started, and even more surprisingly, it’s the lowest...
Financial Conditions
This week’s indicator focuses on the National Financial Conditions Index (NFCI) produced by the Chicago Federal Reserve. There are several “financial conditions” indexes out there, but the NFCI version includes a number of financial indicators (over 100)...
Thinking Global
OVERVIEW The U.S. stock market was mixed last week. The Dow dropped 1.38%, but tech stocks helped push the S&P 500 higher by 0.32% and the Nasdaq by 1.24%. The Russell 3000 Growth index posted a weekly gain of 1.5%, whereas its value counterpart fell 1.89%....
Leaving Port
The Baltic Dry Index. It's funny; despite having the word “dry” in its name, the Baltic Dry Index involves a lot of water. This is because it measures changes in the cost to ship various raw materials such as coal, iron ore, and grains across the world’s...
Pricing Power
This week’s indicator is all about pricing power. When a company has pricing power, it can increase its prices and still maintain demand for its products. Whether or not a company can do this depends on various factors. But for many companies, labor is the...
Consumer Discretion
OVERVIEW U.S. stocks took a step back last week, with the S&P 500 falling 0.31%, the Dow declining 0.63%, and the Nasdaq dropping 0.69%. Growth stocks underperformed, falling about 0.6%, versus the 0.03% gain for value stocks. Foreign stocks were mixed. The...
Getting a Raise
Above target inflation and widespread supply and labor shortages are things the U.S. economy hasn’t experienced in quite some time. The good news for workers, however, is that companies have raised wages at an exceptional rate in recent months, hoping to...
Following the Trend is Cool
Here’s an unusual argument you may have never heard before: good investing is like being a teenager. What do I mean? Well, teenagers tend to follow the latest trends (social, fashion, etc.). They do this to be cool. Now, whether that is good or not for...
From the Short to the Long of It
OVERVIEW U.S. stocks rose for the fifth consecutive week last week, as the S&P 500 gained 2%, the Dow rose 1.42%, and the Nasdaq surged 3.05%. Growth shares led the way, gaining 2.67% versus the 1.72% gain for value stocks. Small-caps had a monster week,...
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