Weekly Market Commentary - 11/18/2022 -Darren Leavitt, CFA Investors continued to digest the market’s recent strength and questioned if there is more upside to the move. There was no lack of hawkish Fed speak throughout the week. St. Louis Fed President Bullard...

Weekly Market Commentary - 11/11/2022 -Darren Leavitt, CFA “Bar the door Katie” What an extraordinary week on Wall Street.  Tuesday’s Midterm elections, coupled with a Crypto stalwart blow-up, were accompanied by a better-than-expected Consumer Price Index report.  US...

Weekly Market Commentary - 11/4/2022 -Darren Leavitt, CFA Wall Street incurred another week of losses as investors digested another 75 basis point rate hike from the Federal Reserve.  Hopes of a pivot away from a hawkish stance were diminished when Fed Chairman Powell...

Weekly Market Commentary - 10/28/2022 -Darren Leavitt, CFA US financial markets followed through with another week of gains as investors gravitated toward the notion that the Fed would temper its monetary policy after the November meeting. Less-than-expected rate...

Weekly Market Commentary - 10/21/2022 -Darren Leavitt, CFA Investors enjoyed a nice rally as Fed rhetoric suggested a less hawkish policy path. The rhetoric was backed by Nick Timiraos, a Fed pundit, who published an article in the Wall Street Journal that indicated...

Weekly Market Commentary - 10/14/2022 -Darren Leavitt, CFA Capital markets continued to be extremely volatile.  All eyes were on the US Consumer Price Index (CPI) print on Thursday, which showed no signs of inflation moderating.  The headline number increased by 0.4%,...

Weekly Market Commentary - 10/7/2022 -Darren Leavitt, CFA Wall Street started the week with a broad rally but ended with a sizeable sell-off. The rally was predicated on a reversal in fiscal policy by new UK Prime Minster Liz Truss. Conflicting fiscal and monetary...

Weekly Market Commentary - 9/30/2022 -Darren Leavitt, CFA Global financial markets ended a difficult month of September with losses. Worries of a systemic breakdown in financial markets were induced by the extreme sell-offs in British Gilts and the British Pound. The...

Weekly Market Commentary - 9/23/2022 -Darren Leavitt, CFA It was another brutal week on Wall Street as global economic growth concerns aggravated sentiment. Investors sold risk assets in the wake of several rate hikes by global central banks. The Federal Reserve...

Weekly Market Commentary - 9/16/2022 -Darren Leavitt, CFA There was no place for investors to hide this week except in cash. A hotter than anticipated Consumer Price Index (CPI) caught most of Wall Street off guard and propelled the S&P 500 to its largest one-day...

Weekly Market Commentary - 9/9/2022 -Darren Leavitt, CFA The holiday-shortened week felt like anything of the sort.  Wall Street is back from summer break, and market action kicked right into high gear.  After three straight weeks of losses that saw the S&P 500...

Weekly Market Commentary - 9/2/2022 -Darren Leavitt, CFA Global financial markets continued to sell off on hawkish rhetoric from the Federal Reserve and on the realization that rates will likely be higher and in place for a longer time horizon. Cleveland Fed President...

Weekly Market Commentary - 8/26/2022 -Darren Leavitt, CFA Global financial markets were focused for most of the week on economic rhetoric from the annual Jackson Hole Economic Symposium hosted by the Kansas City Federal Reserve.  Throughout the second half of the...

Weekly Market Commentary - 8/19/2022 -Darren Leavitt, CFA US equities and bonds ended the week lower in an erratic fashion. Technically, the S&P 500 failed to surpass it's 200- day moving average, which gave reason for investors to take profits. The S&P 500...

Weekly Market Commentary - 8/12/2022 -Darren Leavitt, CFA Weaker than anticipated inflation data released in the second half of the week bolstered the peak inflation narrative and catalyzed the S&P 500 to the fourth week of gains. Of note, on a technical basis,...

Weekly Market Commentary - 8/5/2022 -Darren Leavitt, CFA Despite a cautious start to the week, US equity markets posted gains for the third week. A tepid ISM manufacturing report coupled with uncertainties surrounding House Speaker Pelosi’s visit to Taiwan initially...

Weekly Market Commentary - 7/29/2022 -Darren Leavitt, CFA Investors faced the busiest week of the year as 175 companies representing 50% of the S&P 500’s market capitalization reported 2nd quarter earnings. The results were mixed and produced drastic swings in...

Weekly Market Commentary - 7/22/2022 -Darren Leavitt, CFA US financial markets rallied over the week despite increasing economic growth concerns. A very weak BofA Fund Manager Survey validated a sense that some, if not most, of the coming economic weakness has been...

Weekly Market Commentary - 7/15/2022 -Darren Leavitt, CFA It was an extremely busy week on Wall Street with a full calendar of economic data and the start of 2nd quarter earnings. Growth concerns fostered more selling in equities and commodities while the long tenures...

Weekly Market Commentary - 7/8/2022 -Darren Leavitt, CFA The holiday-shortened week saw the US stock market bounce while US Treasuries gave up the bulk of their prior weeks' gains. Economic data was highlighted by the June Employment Situation report that showed...

Weekly Market Commentary - 7/1/2022 -Darren Leavitt, CFA Markets took a step back after the prior week’s impressive rally. The same culprits showed up to dampen investors’ appetite for risk assets- growth concerns, inflation, and hawkish central bank rhetoric....

Weekly Market Commentary - 6/24/2022 -Darren Leavitt, CFA In a holiday-shortened week, financial markets bounced out of extreme oversold conditions.  Mega-cap growth stocks outperformed value issues, mid-caps, and small caps.  The Fed Chairman was on the hill in front...

Weekly Market Commentary - 6/17/2022 -Darren Leavitt, CFA Investors sent global markets lower on recession fears induced by tighter central bank policies. The Federal Reserve announced that they would raise their policy rate by 75 basis points to a target of 1.50% to...

Weekly Market Commentary -6/10/2022 -Darren Leavitt, CFA Global growth concerns were raised throughout the week on multiple fronts. Central bank policy from the Eurozone, India, and Australia promoted tighter monetary policy. Higher fuel prices stoked fears of...

Weekly Market Commentary -6/3/2022 -Darren Leavitt, CFA Wall Street ended lower for the week as investors heard more hawkish rhetoric from Fed officials and economic warnings from two prominent CEOs.  The holiday-shortened week produced another tranche of mixed Q1...

Weekly Market Commentary -5/27/2022 -Darren Leavitt, CFA Happy Memorial Day, and thank you to all that have served our great country. Global financial markets rallied as buy the dip investors finally showed up on Wall Street. US Markets were especially strong after...

Weekly Market Commentary -5/20/2022 -Darren Leavitt, CFA US markets continued to sell off while developed international and emerging markets traded higher. Disappointing Q1 earnings results from the retailers cast some doubt on the health of the US consumer and...

Weekly Market Commentary -5/13/2022 -Darren Leavitt, CFA Investors endured another tough week as financial markets continued to digest robust inflation data, mixed Q1 earnings, and fears that global growth will continue to slow. Economic data was centered on the...

Weekly Market Commentary -5/6/2022 -Darren Leavitt, CFA It was an extremely busy and volatile week on Wall Street.  The Federal Reserve's May FOMC meeting statement was top of mind for investors and came in as expected.  However, post statement Q&A added some...

Weekly Monthly Commentary - April '22 -Darren Leavitt, CFA Global financial markets had a rough month in April. Inflation continued to be top of mind for investors as data continued to show historic increases in prices. The Federal Reserve still appears to be behind...

Weekly Market Commentary -4/22/2022 -Darren Leavitt, CFA Financial asset classes had a tough week as global growth concerns were stoked by more hawkish commentary from Fed Presidents and mixed earnings results from corporate America. Economic data showed mixed results...

Weekly Market Commentary -4/15/2022 -Darren Leavitt, CFA First-quarter earnings season kicked off with mixed results from the financials and positive results from the airlines. The holiday-shortened week found US equities taking one step forward only to subsequently...

Weekly Market Commentary -4/8/2022 -Darren Leavitt, CFA Fed rhetoric sent yields higher across the curve, with longer duration Treasuries taking the brunt of the sell-off. Higher yields pressured growth stocks and favored defensive sectors such as the Utilities,...

Weekly Market Commentary -4/1/2022 -Darren Leavitt, CFA Financial markets started the week with a strong rally on the back of what appeared to be constructive negotiations between Russia and Ukraine.  However, progress was refuted as the week moved forward, and...

Weekly Market Commentary -3/25/2022 -Darren Leavitt, CFA It was a hectic week for investors as US financial markets tried to post a second consecutive week of gains. Geopolitics continued to influence market action. President Biden traveled to Europe to meet with NATO...

Weekly Market Commentary -3/18/2022 -Darren Leavitt, CFA Global financial markets registered significant gains for the week. Investors continued to watch for any progress on negotiations between Russia and Ukraine. Central bank policy came in as expected, which helped...

Weekly Market Commentary -3/11/2022 -Darren Leavitt, CFA Investors started the week facing $130 a barrel crude as the US announced an embargo on Russian oil.  Europe also announced that they would begin to taper their dependence on Russian energy, albeit a process...

Weekly Market Commentary -3/4/2022 -Darren Leavitt, CFA Financial markets continued to be volatile as investors assessed the ramifications of the ongoing war in Ukraine.  International sanctions roiled the Russian ruble and kept the Russian equity markets closed. ...

Weekly Market Commentary -2/25/2022 -Darren Leavitt, CFA The uncertainty of the ramifications of a Russian-induced war led to massive swings in the global financial markets. Generally speaking, markets do not like uncertainty. While Russia’s move into Ukraine was well...

Weekly Market Commentary -2/18/2022 -Darren Leavitt, CFA Global financial markets traded lower for the week as Russian-Ukraine tensions dominated headlines. The Federal Reserve’s policy rate path continued to be debated off the back of another hot inflation print of...

Weekly Market Commentary -2/11/2022 -Darren Leavitt, CFA US equity markets struggled to gain any footing as concerns regarding record inflation along with worries about an imminent Russian invasion of Ukraine kept a lid on investor sentiment. Fourth-quarter earnings...

Weekly Market Commentary -2/4/2022 -Darren Leavitt, CFA Global markets continued to be volatile but managed to post nice gains in the first week of February. Month-end rebalancing coupled with oversold conditions helped the S&P 500 maintain support at its 200 day...

Weekly Market Commentary - 1/28/2022 -Darren Leavitt, CFA A hectic week on Wall Street featured the Federal Open Market Committee meeting statement, more fourth-quarter corporate earnings reports, and increased geopolitical tensions with Russia. The Federal Reserve...

Weekly Market Commentary - 1/21/2022 -Darren Leavitt, CFA It was another brutal week for investors as global markets continued to sell-off. Concerns regarding the path of global central bank policy and a lackluster start of fourth-quarter earnings weighed on...

Weekly Market Commentary - 1/14/2022 -Darren Leavitt, CFA US Financial markets fell across the board as investors got a full dose of Federal Reserve rhetoric and were underwhelmed by the start of fourth-quarter earnings. The S&P 500 was also unable to bounce off...

Weekly Market Commentary - 1/7/2022 -Darren Leavitt, CFA US financial markets fell in the first week of 2022 after the S&P 500 hit an all-time high on Monday. The release of the December Federal Open Market Committee minutes revealed a much more hawkish Fed. It...

Weekly Market Commentary - 12/31/2021 -Darren Leavitt, CFA Financial market action in the final week of the year was relatively muted.  A mild Santa Clause rally did ensue as seasonal factors such as rebalancing and window dressing kicked in.  Investors got a full...

Weekly Market Commentary - 12/23/2021 -Darren Leavitt, CFA The holiday-shortened week produced another all-time high for the S&P 500 as investors looked past the ramifications of the Omicron variant and bought last week’s market dip.  Technically, the S&P 500...

-Darren Leavitt, CFA US equity markets fell across the board as global central banks moved to decrease their quantitative easing initiatives.  In the US, the Federal Reserve announced that it would double the pace of its taper to $30 billion a month and conclude its...

Weekly Market Commentary - 12/10/2021 -Darren Leavitt, CFA US equity markets rebounded nicely over the week as fears of the Omicron variant subsided.  It appears the variant, while more contagious, is less severe.  Sentiment was also bolstered by Pfizer’s preliminary...

Weekly Market Commentary - 12/3/2021 -Darren Leavitt, CFA Markets continued to be volatile in the first week of December.  Fed Chairman Jerome Powell and Treasury Secretary Janet Yellen struck a more hawkish tone during their semiannual testimony in front of Congress....

Weekly Market Commentary - 11/26/2021 -Darren Leavitt, CFA The holiday-shortened week turned into a wild ride for investors as a new variant of Covid upended the reflation trade, which sent volatility through the roof.  The new variant called Omicron was first...

Weekly Market Commentary - 11/19/2021 -Darren Leavitt, CFA US financial markets ended the week mixed.  Mega-cap Growth stocks pushed the S&P 500 and Nasdaq to another set of all-time highs while cyclical issues and small caps lagged, hindering the Dow and Russell...

Weekly Market Commentary - 11/12/2021 -Darren Leavitt, CFA US financial markets fell from record-high levels as increases in inflation continued to weigh on investor sentiment.  The tape was full of corporate news highlighted by the break-ups of General Electric and...

Weekly Market Commentary - 11/5/2021 -Darren Leavitt, CFA Wow-what a week on Wall Street!  US equity indices hit another set of all-time closing highs. Market sentiment was bolstered on several different fronts.  3rd quarter corporate earnings continued to impress,...

Weekly Market Commentary - 10/29/2021 -Darren Leavitt, CFA Wall Street faced a deluge of corporate earnings in the final week of October.  Generally, reports were better than expected but tempered by management concerns related to the current state of the global...

Weekly Market Commentary - 10/22/2021 -Darren Leavitt, CFA US financial markets rallied throughout most of the week, with the S&P 500 touching a new intraday high and the Dow closing at a new all-time high.  Corporate earnings dominated the headlines and were, for...

Weekly Market Commentary - 10/15/2021 -Darren Leavitt, CFA US Financial markets rallied across the board on a solid start to the 3rd quarter corporate earnings season.  The Consumer Discretionary sector led gains with a 3.6% advance off of much better than expected...

Weekly Market Commentary - 10/15/2021 -Darren Leavitt, CFA US Financial markets rallied across the board on a solid start to the 3rd quarter corporate earnings season.  The Consumer Discretionary sector led gains with a 3.6% advance off of much better than expected...

Weekly Market Commentary - 10/8/2021 -Darren Leavitt, CFA Markets started the week lower but were able to recover losses and make slight gains by the end of the week.  Concerns regarding the debt ceiling, the static state of the infrastructure bill, raw materials...

Weekly Market Commentary - 10/1/2021 -Darren Leavitt, CFA Financial markets took a step back in the final week of the third quarter.  Increased inflation expectations pushed US Treasury yields higher, which induced valuation concerns on large-cap growth stocks. Rising...

Weekly Market Commentary - 9/24/2021 -Darren Leavitt, CFA Financial markets had a rollercoaster ride over the week that started on fears that one of China’s largest land developers would default on their debt which stoked rhetoric of a systematic breakdown in the...

Weekly Market Commentary - 9/17/2021 -Darren Leavitt, CFA US financial markets endured another week of losses that ended with the S&P 500 closing below its 50-day moving average on a quadruple witch expiration.  Although investors were treated to better than...

Weekly Market Commentary - 9/10/2021 -Darren Leavitt, CFA The holiday-shortened week produced negative returns across the board for US equity indices.  The month of September has historically been a tough month for equities, and given the outsized moves we have seen...

Weekly Market Commentary - 9/3/2021 -Darren Leavitt, CFA Mega-cap technology issues pushed markets to another set of all-time highs in front of the Labor Day weekend holiday as traders rotated out of issues tied to the reflation trade.  Ironically, growth issues...

Weekly Market Commentary - 8/27/2021 -Darren Leavitt, CFA It was a hectic news week. The S&P 500 and NASDAQ hit a set of new all-time highs as Wall Street and global central banks focused on Federal Reserve rhetoric from the virtual economic symposium at Jackson...

Weekly Market Commentary - 8/20/2021 -Darren Leavitt, CFA US Financial markets fell from their recent all-time highs on fears that economic growth could falter.  Traders rotated out of the reflation trade as Covid infection rates increased and the efficacy of our...

Weekly Market Commentary - 8/13/2021 -Darren Leavitt, CFA The S&P 500 and the Dow inked new all-time highs as the Financials, Materials, and Consumer Staples did well over the week.  Energy and Small Caps lagged.  The Senate passed the 1.2 trillion dollar...

Weekly Market Commentary - 8/6/2021 -Darren Leavitt, CFA US equity indices forged new all-time highs on the back of an impressive Employment Situation Report and an upward S&P 500 price target revision by investment bank Goldman Sachs.  However, the US Treasury...

Weekly Market Commentary - 7/30/2021 -Darren Leavitt, CFA It was a hectic week on Wall Street as second-quarter earnings continued to roll in with mixed results.  Apple, Microsoft, Amazon, Facebook, and Google, which are very influential on the indices, generally sold...

Weekly Market Commentary - 7/23/2021 -Darren Leavitt, CFA US Financial markets started the week off much as it had ended the prior week, in the red.  A continuation of the peak growth narrative catalyzed further by increased Covid infection rates stemming from the...

Weekly Market Commentary - 7/16/2021 -Darren Leavitt, CFA Despite hitting another set of all-time highs, US financial markets ended the week lower.  2nd quarter earnings kicked off with better than expected results from the financials; however, banks shares generally...

Weekly Market Commentary - 7/9/2021 -Darren Leavitt, CFA The holiday-shortened week produced significant swings in the equity and fixed income markets as investors continued to contemplate where we are in the economic cycle.  The peak growth narrative appeared early...

Weekly Market Commentary - 7/2/2021 -Darren Leavitt, CFA Economic data for the week was headlined by the Employment Situation Report that resulted in mixed results. The S&P 500, the Dow, and the NASDAQ forged another set of all-time highs while the Russell 2000...

Weekly Market Commentary - 6/25/2021 -Darren Leavitt, CFA US Financials markets bounced back from last week’s sell-off as buy the dip buyers stepped in and pushed the S&P 500 above its 50-day moving average.  Comments for Fed Chairman J. Powell, who was testifying...

-Darren Leavitt, CFA US equity indices fell across the board for the week on a more hawkish than expected statement from the Federal Reserve's Open Market committee meeting.  In the Q&A after the release of the FOMC statement, Fed Chairman Jerome Powell provided a...

Weekly Market Commentary - 6/11/2021 -Darren Leavitt, CFA The S&P 500 hit all-time highs on the week in very tight market action.  Cyclicals and US Treasury yields fell throughout the week on the notion that the economy has seen peak growth and peak inflation...

Weekly Market Commentary - 5/28/2021 -Darren Leavitt, CFA Financial markets moved higher throughout the week as the inflation debate continued on Wall Street. A full economic calendar was headlined by the PCE Price Index, the Federal Reserve’s preferred measure of...

Weekly Market Commentary - 5/21/2021 -Darren Leavitt, CFA The financial markets were in consolidation mode as a volatile risk-off trade in cryptocurrencies exacerbated concerns about inflation and valuations.  A sell-off in commodities curbed investors' appetite for...

Weekly Market Commentary - 5/14/2021 -Darren Leavitt, CFA It was a volatile week on Wall Street that saw the major US equity indices fall across the board.  Inflation fears were stoked by a hot Consumer Price Index reading and surging gas prices caused by a ransomware...

Weekly Market Commentary - 5/7/2021 -Darren Leavitt, CFA US equity indices finished the week mixed as a strong rotational trade into cyclicals and out of high growth technology issues reappeared.  The S&P 500 and Dow forged new all-time highs as the tech-heavy...

Weekly Market Commentary - 4/30/2021 -Darren Leavitt, CFA It was a hectic week on Wall Street highlighted by large-cap technology Q1 earnings, the April Federal Reserve Open Market Committee, and a busy economic data calendar.  Trading was mixed throughout the week...

-Darren Leavitt, CFA US equity markets finished mixed on the week as Q1 earnings continued to surprise to the upside.  Markets pulled back sharply on Thursday on reports that the Biden administration will propose increasing the capital gains tax, and economic data...

-Darren Leavitt, CFA US equity indices hit another set of all-time highs in what was a very busy week on Wall Street.  First-quarter earnings season kicked off, with US Banks showing impressive results.  Markets were well bid throughout the week and moved higher...

-Darren Leavitt, CFA Markets continued to rally, but the advance came on quiet trading volume. Robust economic data coupled with a solid economic outlook from JP Morgan’s CEO Jamie Diamond catalyzed buying.  First-quarter earnings start in earnest in the coming week,...

Weekly Market Commentary - 3/26/2021 -Darren Leavitt, CFA It was a mixed week on Wall Street that saw continued quarter-end rebalancing that supported pro-cyclical issues and hindered mega-cap growth issues.  For the week, the S&P 500 gained 1.6%, the Dow added...

Weekly Market Commentary - 3/19/2021 -Darren Leavitt, CFA It was a hectic week on Wall Street that saw the major US equity indices fall as interest rates continued to rise.  All eyes were on the Federal Reserve's two-day FOMC meeting that concluded on Wednesday with a...

Weekly Market Commentary - 3/12/2021 -Darren Leavitt, CFA The S&P 500, Dow, and Russell 2000 equity indices made fresh all-time highs for the week while the NASDAQ rebounded from its sell-off over the last couple of weeks.  President Biden signed the 1.9 trillion...

Weekly Market Commentary - 3/5/2021 -Darren Leavitt, CFA US financial markets finished the week with mixed results as another spike in interest rates induced a sharp sell-off in growth stocks.  Inflation concerns were heightened on commentary from Federal Reserve...

Weekly Market Commentary 2/26/2021 -Darren Leavitt, CFA A continued steepening of the yield curve induced selling of all asset classes throughout the week.  Economic growth expectations have stoked inflation fears, sending the 10-year note yield fifty-two basis points...

Weekly Market Commentary 2/19/2021 -Darren Leavitt, CFA Markets sold off a bit last week in a rotational trade into pro-cyclical sectors and out of growth stocks.  Fourth-quarter earnings continued to come in better than expected while economic data for the week was...

Weekly Market Commentary 2/12/2021 -Darren Leavitt, CFA Markets rallied to all-time highs on continued positive sentiment surrounding the reopening of global economies and on the fear of missing out on further gains.  Markets opened the week on a strong note with...

Weekly Market Commentary 2/5/2021 -Darren Leavitt, CFA Markets rebounded strongly in the first week of February.  Fourth-quarter earnings continued to beat expectations, vaccines continued to go into arms, and economic data continued to be mixed, which fostered more...

Weekly Market Commentary 1/29/2021 -Darren Leavitt, CFA Markets sold off in volatile trade as retail investors wreaked havoc in heavily shorted companies.  The fourth-quarter earnings season continued to produce better than expected results, although it appears stock...

Weekly Market Commentary 1/22/2021 -Darren Leavitt, CFA The mega-cap technology issues led markets to another set of all-times as cyclicals took a step back after being red hot for the last several weeks.  Fourth-quarter earnings continued to roll out with mixed...

Weekly Market Commentary 1/15/2021 -Darren Leavitt, CFA Markets gave up a bit of ground last week as fourth-quarter earnings season kicked off and President-Elect Biden laid out his 1.9 trillion dollars economic stimulus plan.  Economic data was mixed but painted a...

Weekly Market Commentary 1/8/2021 -Darren Leavitt, CFA Wow-what a way to start 2021.  US equity averages hit another set of all-time highs despite Washington's political turmoil and a Democratic sweep in the Georgia Senate runoff elections.  Economic data continued to...

Weekly Market Commentary 1/1/2021 -Darren Leavitt, CFA The S&P 500 and Dow Jones Industrial average’s set new all-time highs in the holiday-shortened week.  Another tranche of stimulus passed by Congress and signed by the President catalyzed markets higher early...

Weekly Market Commentary 12/25/2020 -Darren Leavitt, CFA US equity markets were mixed in a holiday-shortened week. Corporate news was limited but influenced individual issues while trade was relatively subdued.    Investors continued to focus on Washington...

Weekly Market Commentary 12/18/2020 -Darren Leavitt, CFA Choppy trade action throughout the week led US stock indices to another set of all-time highs. Coronavirus stimulus package negotiations dominated headlines while the December Federal Reserve meeting affirmed...