KEY TAKEAWAYS Small cap stocks have performed well so far in 2019; however, we believe the environment is getting tougher. Large caps may take the baton and sustain leadership as small cap performance potentially enters a weaker phase. Small and large cap stocks may...
KEY TAKEAWAYS Following such a strong rally since the December 24 lows, a pullback is reasonable to expect. We expect additional stock market weakness beyond last week’s more than 2% decline to be modest. Fundamentals remain sound, valuations are reasonable, and most...
KEY TAKEAWAYS Our Beige Book Barometer has dropped to its lowest level since the 2011 European debt crisis. The lower BBB reading is due more to a low level of strong words than a high level of weak words. Mentions of uncertainty reached a new high amid global...
The S&P 500 Index has staged an impressive rally after nearly entering a bear market December 24, with U.S. stocks notching their best start to a year since 1991. Stocks have climbed the “wall of worry” once again, but global uncertainty persists as the bull...
KEY TAKEAWAYS During the 10-year bull market, the S&P 500 Index has more than quadrupled in value. It might be the longest bull market, but the 1990s bull market saw substantially higher returns. Market breadth continues to support higher equity prices and...
KEY TAKEAWAYS The current economic expansion will become the longest ever in July. Slow (but steady) growth and accommodative policy have made this expansion especially durable. We still see many signals that this cycle could persevere at least through the end of...
