Market Commentary

Daily reports from our Chief Economic Strategist.

JULY AUGUST RETAIL SALES RELEASED AT 8:30
Headline inflation undershot expectations for the first time in 11 months and only the third time in the last two
CPI UNDERSHOT EXPECTATIONS FOR THE FIRST TIME IN 11 MONTHS…PPI AT 8:30
Headline inflation undershot expectations for the first time in 11 months and only the third time in the last two
GDP SURPISED ON THE DOWNSIDE
According to the NBER (National Bureau of Economic Research), a recession is defined as two consecutive quarters of negative GDP.
FED ANNOUNCEMENT AT 2:00
Anxiety is building that tech earnings will fall far short of expectations and the Fed may be more hawkish than
ANOTHER VOLATILE ALBEIT QUIET DAY
Equities were again volatile as all are assessing and reassessing prospects for growth as the ECB joined global peers in tightening policy and
A CHOPPY DAY
In some regards Europe, specifically Germany, is sighing some collective relief following the reestablishment of natural gas flows from
ARE WE IN A FULL EMPLOYMENT RECESSION?
Equities advanced on Friday as the odds of a 100 bps increase in the Fed Funds rate declined. Banks led the advance following
PPI EXCEEDED EXPECTATIONS
The PPI was greater than expected albeit there were some signs that some prices have abated. The markets are beginning to discount a 100
HOW WILL THE FED RESPOND HISTORICALLY TO A 41 YEAR HIGH INFLATION PRINT?
The Federal Reserve may debate a historic one percentage point rate hike later this month after another searing inflation
THE FIRST HALF OF 2022 IS ONE FOR THE RECORD BOOKS
As widely noted, the first six months of 2022 is the worst start of the year for the S & P 500 since 1970. More stocks have hit new
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