Strength Begets Strength

Strength Begets Strength

  We closed out the first quarter last week—and it was a good one. Over the first three months of the year, the S&P 500 stock Index rose 10.16%. The three months before that, it was up 11.24%. That’s back-to-back quarterly gains of 10% or more for the first...
The Race to 2%

The Race to 2%

  At the latest Federal Reserve meeting, chairman Jerome Powell mentioned that inflation continues to “move down gradually on a sometimes bumpy road to 2%.” Why is 2% such a big deal? Well, hitting that target gives the Fed the green light to consider cutting...
Taylor Rule

Taylor Rule

  The big financial news this week was all about the Federal Reserve’s meeting on Wednesday. Pretty much everything happened as expected. The Fed decided to keep its policy rate steady at 5.5% for now, but they’re still thinking about cutting rates up...
The New Oil

The New Oil

  Some have said semiconductors are the new oil. The stock market agrees. Our featured chart this week shows the ratio of the Philadelphia Stock Exchange Semiconductor Index to the S&P 500 Index. This essentially illustrates how the semiconductor sector has...
New High Nikkei

New High Nikkei

It’s been a while, but the Japanese stock market finally hit a new all-time high this month. It reminds me of that scene in the movie Titanic where the old woman who survived the tragic incident starts her story by saying, “It’s been 84 years…” Okay, maybe it hasn’t...
Equity Strikes Back

Equity Strikes Back

  Let’s say you’re a big company and need to raise some cash. You’ve generally got two options: borrow money or sell a piece of your company. Borrowing money has largely been the go-to choice for the past couple of decades. That’s because not only is...