Market Commentary

The economy expanded at a 3.3% annualized rate during the fourth quarter, trouncing all estimates.  Economists had expected a 2.0% pace.   For the year, the economy expanded by

Mega sized companies are continuing to shake off the rocky start to the year amid conviction that the Federal Reserve will soon cut interest rates and the belief that the

According to wire services, this week there is expected to be $685 billion in gross Treasury issuance, a record.  The Treasury is entering into a

The lack of geopolitical premium in the market is daunting.  Many Davos participants have publicly commented about the continued deterioration of the geopolitical backdrop and

December’s CPI was greater than expected thus suggesting the road to a 2% inflation rate is bumpy and the last mile could be difficult.

Tomorrow December’s CPI is released.  Will it support the disinflationary thesis?  Rate cut bets have ramped up in the past month even as

Friday is the commencement of the fourth quarter earnings season.  Several bulge bracket financial firms will post results, and most will focus upon any increase in

December’s unemployment data is released at 8:30. Yesterday’s ADP Private Sector Employment survey, which is now regarded as second tier statistic, indicated that

The largest technology stocks that lifted the broader market last year are having a less rosy start to 2024. The “Magnificent Seven,” which includes AAPL, AMZN, GOOG, MSFT, META TSLA and NVDA, have

Has the “pivot narrative” reached a crescendo?  Data released yesterday increased sentiment that the Fed will lower rates by 150 bps in 2024, twice the amount as to what the Fed is suggesting via its