We maintain our year-end 2019 fair value target for the S&P 500 Index of 3,000. Despite a slight reduction in our 2019 S&P 500 earnings forecast and heightened trade tensions…
Portfolio Compass | June 19, 2019
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Research
Stocks and Fed Rate Cuts | Weekly Market Commentary | June 17, 2019
Stocks have benefited recently from increasing hopes of a Fed rate cut, although investors probably won’t get one this week…
Setting The Stage | Weekly Economic Commentary | June 17, 2019
The Federal Reserve’s (Fed) next policy meeting starts June 18 with a policy announcement due June 19…
Market Insight Monthly | May 2019
U.S. economic data improved in May on balance, even as investors battled a resurgence in U.S.-China trade tensions…
Bull Market For Policy Uncertainty | Weekly Market Commentary | June 10, 2019
Last week stocks enjoyed their best week since November 2018 despite rampant policy uncertainty. Policy uncertainty remains high, particularly around trade, but you wouldn’t know it…
A Record-Long Expansion | Weekly Economic Commentary | June 10, 2019
The economic expansion just turned 10 years old, tied for the longest on record, according to the National Bureau of Economic Research….
Trade and Tariffs | Client Letter | June 6, 2019
Our June letter discusses the U.S.-China trade dispute, tariffs on Mexican imports, and the possible effects on financial markets.
Bond Markets’ Signal to Stocks | Weekly Market Commentary | June 3, 2019
Worrisome signals from the bond market contributed to stocks’ first monthly decline of 2019.
The Baffling Bond Market | Weekly Economic Commentary | June 3, 2019
Economic fundamentals still look sound, even as yields send cautious signals.
Five Forecasters: Few Warning Signs | Weekly Market Commentary | May 28, 2019
Our Five Forecasters are collectively indicating that further economic growth and stock market gains appear likely.