Market Commentary

Daily reports from our Chief Economic Strategist.

A MARKET OF IMBALANCES
Technology companies comprise a record 23% of the S & P 500. However, a strong argument can be made that tech comprises over 50% of this marquee average if the descriptive nomenclature is
WILL BLACK SWAN EVENTS CONTINUE TO OCCUR?
Several months ago, I opined the corona virus will morph into a political issue, stating it would be a huge abnormality if it does not given the massive impact the virus will have upon
THE APRIL JOBS REPORT
The reality of the government induced shutdown is now upon us. The economy lost an unprecedented 20.5 million jobs in April and the unemployment rate more than tripled to
APRIL’S UNEMPLOYMENT REPORT AT 8:30
April’s jobs report is forecasted to show employers slashed about 21.7 million jobs, nearly erasing a decade of job gains in a single month. This is about 27 times the worst monthly decline during the 2007-2009 recession and about
THE TREND IS YOUR FRIEND
Data from the Federal Reserve states more companies are scared today than 2008. The Fed also writes the level of uncertainty is at a record, vastly eclipsing all other times. Moreover, almost every firm has declared the economy
IS THE PANDEMIC OF FEAR EBBING?
Equities led by oil advanced for a second day. Hopes are rising on progress for the treatment of the disease, the development of a vaccine, and the
EQUITIES CLOSED NOMINALLY HIGHER
Equities initially fell for a myriad of reasons including escalated rhetoric against China over the corona virus. The President is prodding the nation to reopen for business while
THE REALITY IS REALLY UGLY
The economic reality of the coronavirus is now upon us. A large minority are now overtly questioning whether or not the draconian actions that have decimated the economy is worth it based upon
IS REALITY SETTING IN?
Equities slumped amid dire economic warnings, more dismal data and corporate results that reflected the coronavirus’s toll on businesses. Oil extended its rebound as gasoline demand is
EQUITIES ADVANCED ON VACCINE HOPES
Equities advanced on renewed hopes for a drug to fight the virus. The NYT reports the FDA is in talks with Gilead to make the medicine available quickly. Dr. Fauci, head of National Institute of Allergy and Infectious Diseases stated this morning that he

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