New All-Time Highs Again for the S&P500 – 38 and counting in 2021   The S&P500 closed at another all-time high on Friday, pushed buy large cap growth.  LCG pushed the index to new highs while extending its outperformance vs value by about 130 bps for the week. REITs put…

New All Time Highs, Again US equities rallied this week. Value outperformed growth. Energy put in the best performance as oil gained for a fifth straight week. Financials outperformed as banks bounced with some help from a shift in focus to favorable capital return dynamics. Industrials rallied with upside leadership from machinery, equipment rental and building…

The S&P, Nasdaq and Russell were all higher this week while the Dow ended lower. Growth outperformed value and with mixed sectors. REITs put in the best performance with some help from M&A. Healthcare rallied with upside leadership from biotech and pharma. BIIB +38.6% was a big gainer following the controversial FDA approval…

US equities were higher for the week, seeing gains from much of the FANMAG complex and small-caps logging a solid weekly performance. Treasuries were firmer with some curve steepening. The dollar was down on the euro and sterling crosses, but notably better vs the yen. Gold was higher for the fourth consecutive week, rising 1.5%. Oil broke a…

New All-Time Highs on a Stinker Jobs Report Both the Dow and S&P closed at all-time highs on Friday as investors focused on what little positives came out of the jobs report – namely that the report will likely push out the tapering of asset purchases and any potential Fed…

Feeling a Little Toppy  According to Factset, with 60% of the S&P 500 having reported, 86% are above estimates. The blended earnings growth for the S&P 500 is 45.8% Which would be the highest y/y earnings growth rate since Q1 2010 (55.4%) if that number holds. All eleven sectors have higher earnings…

The Market Continues to Climb the Wall of Worry  The Dow, S&P500 and mid-caps made all made new highs on Friday. The S&P recorded its first four-week winning streak since late last August. Growth outperformed value by about 50bps. Tech was a slight laggard as semis underperformed while Utilities put in the best performance of…

US equities finished mostly higher this week. Growth once again took the lead, outperforming value by almost 300 bps.  Mega caps and technology were back in the driver’s seat with upside leadership from names like Apple +8.1%,  Microsoft  +6.0%, Amazon +6.7% and Google +6.6%. Energy fared the worst with a…

Saturday marked one year since the COVID national shut down. If you were a Rip Van Winkle type, just waking up from a long slumber, looking at the market performance would give you absolutely no indication of what happened. The Dow made new all-time closing highs Wednesday, Thursday and Friday,…

Yield Spreads Explode Higher – Growth Takes a Time Out The 10 Year yield topped 1.5% for the first time since the start of COVID as investors sold bonds. The Barclays bond aggregate fell for the fourth continuous week racking up a YTD loss of 3%. Some Investors are positioning…