The Independent Market Observer

Economic Release Snapshot: Existing Home Sales Rise in January

February 26, 2024

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

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A Portfolio Manager’s View on Markets

February 22, 2024

Most people know Yogi Berra as the Hall of Fame catcher and 10-time World Series champion with the New York Yankees. Many also know him as an unintentional philosopher, with famous quotations including “It’s like déjà vu all over again.” One Yogi saying I find myself thinking about frequently is this: “No one goes there anymore. It’s too crowded.” Here, Yogi was referring to a popular restaurant in Fort Lauderdale where the Yankees were having spring training. But it seems applicable to the conversations that we have daily. 

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Economic Release Snapshot: Inflation Comes in Hot in January

February 20, 2024

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

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Monthly Market Risk Update: February 2024 [SlideShare]

February 14, 2024

Equity markets continued to rally in January, as all three major U.S. indices were up for the month. The S&P 500 gained 1.68 percent to start the year, and the Dow Jones Industrial Average was up 1.31 percent. The Nasdaq Composite lagged its peers, as the technology-heavy index gained 1.04 percent in January. While these were smaller gains than those at the end of 2023, this still marked three consecutive months of positive returns for all three indices.

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Economic Release Snapshot: Service Sector Confidence Improves in January

February 12, 2024

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

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Economic Risk Factor Update: February 2024 [SlideShare]

February 7, 2024

January’s reports showed solid economic growth to start the year. Hiring accelerated, as 353,000 jobs were added in January following an upwardly revised 333,000 new jobs in December. Consumer confidence and service sector confidence also improved to start the year.

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Looking Back at the Markets in January and Ahead to February 2024

February 6, 2024

In general, markets edged up last month. U.S. markets continued their rally at a slower pace as interest rates bounced around, which also constrained fixed income returns. International markets were more mixed, with developed international markets roughly even and emerging markets down, primarily due to weak performance in China.

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Economic Release Snapshot: Hiring Surges in January

February 5, 2024

Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.

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Market Thoughts for February 2024 [Video]

February 2, 2024

The U.S. stock market reported lower-single-digit gains in January, while international and emerging markets lagged behind. The economy performed well, as strong retail sales, a healthy jobs market, and consumer confidence drove the fourth-quarter growth.

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Digesting the Fed: Committee Members Need More Time

February 1, 2024

The Federal Open Market Committee (FOMC) met this week and voted unanimously to hold rates steady for the fourth consecutive meeting, leaving its policy range at 5.25 percent to 5.5 percent. This outcome was confidently priced into futures markets leading up to the meeting, so the committee’s decision comes as no surprise.

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Market Outlook: Strong January, Strong Year?

February 1, 2024

Thus far, market momentum has carried over from 2023 into 2024. Things started slow, with the S&P 500 closing down more than 1.5 percent during the first week of the year. But it has since rebounded sharply, hitting several new all-time highs in the process and closing the month of January up 1.59 percent.

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The information on this website is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.

Certain sections of this commentary contain forward-looking statements that are based on our reasonable expectations, estimates, projections, and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Past performance is not indicative of future results. Diversification does not assure a profit or protect against loss in declining markets.

The S&P 500 Index is a broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks. All indices are unmanaged and investors cannot invest directly in an index.

The MSCI EAFE (Europe, Australia, Far East) Index is a free float‐adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The MSCI EAFE Index consists of 21 developed market country indices.

One basis point (bp) is equal to 1/100th of 1 percent, or 0.01 percent.

The VIX (CBOE Volatility Index) measures the market’s expectation of 30-day volatility across a wide range of S&P 500 options.

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