Third Quarter 2017 Market and Sector Brief Updates

Third Quarter 2017 Market and Sector Brief Updates

he intent of this blog is to provide an update on the state of domestic and international stock and bond markets as well as provide insight into our Macro guidance.

The S&P 500 Index (US large cap stocks) gained....


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

October 16, 2017

Stocks opened modestly higher this morning (Dow +35 pts; SPX flat), led by telecoms, banks, biotechs and semiconductors. Interest rate sensitive sectors (utilities, real estate) are in the red. The VIX Index still treading water under 10. WTI crude oil is trading back up over $51/barrel and that is helping sustain the stock rally. Bonds are trading a bit lower today as yields resume the march higher. The 5-year Treasury yield is currently at 1.93% and the 10-year yield edged up to 2.29%.


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

October 13, 2017

Stocks gapped up at the open (Dow +30 pts; SPX .17%). Most sectors are in the green as earnings announcements track better than expected. Tech, materials and energy are leading the way. Only healthcare, telecom and utilities are in the red. Commodities are mostly higher on the day and oil is trading up 1% to $51/barrel. Bond prices are modestly higher again today as yields sag. The 5-year Treasury yield is back down around 1.91% and the 10-year yield is back down to 2.29%.


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

October 12, 2017

The major stock market averages gapped down at the open but quickly turned around. The Dow and SPX are currently flat. Just like yesterday’s session, defensive and interest rate sensitive sectors are leading. The only exception is telecom, down 2%. I get the sense that the stock market needs to rest and investors need to settle in and digest third quarter earnings announcements before acting with any conviction. Oil prices sank this morning; WTI crude is down 1.7% to trade around $50.80/barrel. The bond market is slightly higher as yields edge lower. The 5-year and 10-year Treasury yields are hovering around 1.94% and 2.34%, respectively. From a technical analysis perspective, the 5-year yield hasn’t been able to move above 1.96% since late March, so that’s the key resistance level to watch. 


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.

October 11, 2017

The major market averages opened mixed this morning (Dow & SPX flat). Gold miners, banks, biotechs, telecoms and basic materials are lower in early trading. Some of the more defensive and interest rate sensitive sectors are in the green (consumer staples, utilities, real estate). The VIX Index is still hovering around 10 and WTI crude oil is still trading between $50 & $51/barrel. Bonds are trading slightly higher as yields take a break from their upward climb. The 5-year Treasury yield is currently around 1.95% and the 10-year yield edged back down to 2.34%.


*The foregoing content reflects the author's personal opinions which may not coincide with the opinions of the firm, and are subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. All investing involves risk. Asset allocation and diversification does not ensure a profit or protect against a loss. Finally, please understand that–as with other social media–if you leave a comment, it will be made public.