Market Commentary

Daily reports from our Chief Economic Strategist.

Capitol Securities COVID-19 Response
Our number one priority is the safety and health of our clients and our associates. Capitol Securities has taken steps to ensure that we can continue supporting our clients and protect our communities to the best of our ability. Contingency Planning We have enacted some...
IS THERE A CORRELATION BETWEEN INTANGIBLES AND THE ELECTION?
The polls are saying and the market is pricing it: President Trump will not win on November 3. The obvious question at hand is this a correct conclusion?
INTANGIBLE VS TANGIBLE VALUE
Bloomberg writes all the physical assets owned by all the companies in the S & P 500, all the cars and office building and factories and merchandise, if sold would generate less than
STIMULUS AND ANTI TRUST LITIGATION
In my view the market had little reaction to what Bloomberg writes “is the most significant monopoly case filed in the US in perhaps 100 years.” The US Justice Department is poised to
YESTERDAY WAS A RECORD DAY FOR BOTH TECH AND HOUSING SENTIMENT
The WSJ wrote “technology companies are set to end the year with their greatest share of the stock market yet, topping the dot-com era peak.” The Journal stated that companies involved in
MONDAY OCTOBER 19…A DATE I WILL ALWAYS REMEMBER
Today is Monday October 19 a date I vividly recall. Thirty-three years ago, and after only six months in the business, the Dow plummeted 22%, the largest one-day percentage drop in history. I am a
IS A MINSKY MOMENT AT HAND?
Depending upon one’s preconceived bias, yesterday’s economic data can be viewed as either half full or half empty.
STIMULUS AND CHANGE
The indices declined after Treasury Secretary Mnuchin stated that it would be difficult to get a stimulus deal done before the election. Bloomberg notes however, the inverse of the vast majority of
WHAT HEADLINE IS CORRECT?
The headlines are declaratively stating Biden will be the next President and the odds of a blue wave is rising. The headlines are also stating the reason for the recent advance is increased
MARKETS ARE SUGGESTING MASSIVE STIMULUS SPENDING HAS NO DOWN SIDE…THIRD QUARTER EARNINGS SEASON COMMENCES TODAY
Many are convinced a Biden presidency will create an economic boom via increased fiscal spending. While it is correct equities typically perform best under a Democratic Administration given the
ALGOS RULE!
Many times, I have commented about the massive influence that technology and algorithmic trading have upon the market. Dated SEC statistics suggest 90% of volume is the result of
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