Unbelievable Rally The stock market rally we’ve seen since April 8 has been astonishing, and while sputtering a bit, it looks to be hanging in there. Fears of a breakdown intensified last week, as the S&P 500 briefly fell below the 78.6% retracement level of 5896. Despite that brief hiccup, the index was able to…Read more
Round Trip It was February 19. Stocks were sitting at record highs, with the S&P 500 surpassing 6144. A rapidly shifting policy landscape was largely written off by investors as the typical early days of a new administration. Then came April 2. On what President Trump called Liberation Day, he unveiled a baseline universal tariff…Read more
Gentle Dip April’s inflation data offered a welcome downside surprise, with the Consumer Price Index rising less than investors had expected in April: 0.2% instead of 0.3%. That puts the year-over-year rate at 2.3%, the lowest since February 2021, when the economy was just beginning to grapple with the initial wave of pandemic-related price surges. …Read more
