-Darren Leavitt, CFA US financial markets were able to log another set of all-time highs as investors cheered a weaker-than-anticipated Consumer Price Index report that signaled more progress on the inflation front.  The US Treasury market rallied nicely on the news...

-Darren Leavitt, CFA The holiday-shortened week saw the S&P 500 hit its 34th record high this year. The NASDAQ 100 also eclipsed the 20k mark for the first time.  Traders welcomed weaker-than-expected economic data that fostered the likelihood that the Federal...

-Darren Leavitt, CFA Financial markets finished the 2nd quarter with a lack of conviction.  Mega-caps led the market over the quarter with a 9.65% gain, while the equally weighted S&P 500 index declined by -2.42%, and the market weight S&P index gained 4.13%....

-Darren Leavitt, CFA The holiday-shortened week saw the S&P 500 eclipse 5500 and hit its 31st all-time high of the year.  Volumes were relatively light until Friday, when $5.5 trillion in derivatives expired and rolled in the next contract month.  Several...

-Darren Leavitt, CFA The S&P 500 inked its twenty-fifth all-time high for the year, with outperformance coming from the mega-cap technology names.  The Vanguard Mega-Cap Growth ETF was up 3.3% for the week. NVidia and AMD started the week with new product...

-Darren Leavitt, CFA The holiday-shortened week on Wall Street was volatile. The last of first-quarter earnings continued to influence the markets. Earning results from the retailers were mixed as BestBuy, Footlocker, Nordstrom’s, and Costco's shares increased on...

Weekly Market Commentary - 5/24/2024 -Darren Leavitt, CFA Financial markets ended the week with mixed results. All eyes this week were on AI darling NVidia, which posted better-than-expected Q1 results and provided guidance above the consensus estimates. The company...

Weekly Market Commentary - 5/17/2024 -Darren Leavitt, CFA The major US equity indices inked a fourth consecutive week of gains as US Treasury yields fell on an in-line CPI print that showed a deceleration of inflation for the first time in three months. Still, Fed...

Weekly Market Commentary - 5/10/2024 -Darren Leavitt, CFA The S&P 500 notched a third consecutive week of gains as the index broke and held above its 50-day moving average.  Investors were treated to another dose of first-quarter corporate earnings. Disney, Uber,...

Weekly Market Commentary - 4/26/2024 -Darren Leavitt, CFA US equity markets bounced back last week, with nearly 40% of the S&P 500 companies reporting first-quarter results. The rally was propelled by Microsoft and Google, whose better-than-expected earnings not...

Weekly Market Commentary - 4/19/2024 -Darren Leavitt, CFA Financial markets took another step back last week as investors grappled with increased tensions in the Middle East and the recognition that interest rates are likely going to be higher for longer. Iran fired...

Weekly Market Commentary - 4/12/2024 -Darren Leavitt, CFA Financial markets pulled back for the second consecutive week as investors continued to recalibrate monetary policy expectations and assess the most recent conditions in geopolitics. A stronger-than-anticipated...

-Darren Leavitt, CFA Wall Street took a step back in the first week of the second quarter as robust economic data induced a recalibration of rate cut expectations. The recalibration was further influenced by Minneapolis Fed Governor Neel Kashkari's suggestion that the...

Weekly Market Commentary - 3/28/2024 -Darren Leavitt, CFA The S&P 500 hit another all-time high this week as investors appeared to rebalance positions into quarter end.  The week started with some weakness on the announcement that the EU was investigating Meta,...

-Darren Leavitt, CFA US equity markets forged another set of new highs in an extremely busy week on Wall Street.  Global Central Banks took center stage, headlined by the Bank of Japan, the US Federal Reserve, and the Bank of England.  The BOJ, as expected, moved away...

Weekly Market Commentary - 3/15/2024 -Darren Leavitt, CFA Markets pulled back this week as investors assessed hotter-than-anticipated inflation data. US Treasuries sold off across the curve as the higher-for-longer narrative strengthened ahead of the coming Federal...

Weekly Market Commentary - 3/8/2024 -Darren Leavitt, CFA Financial markets endured a week of consolidation as investors dissected a full economic calendar and awaited more cues from the leaders of the European Central Bank and the Federal Reserve.  ECB President...

-Darren Leavitt, CFA Markets pushed back on an early week sell-off to close at record highs for the S&P 500 and NASDAQ.  A building sense that the market is due for a pullback was met with inline consensus inflation data, continued outperformance in the...

-Darren Leavitt, CFA The S&P 500 and the Dow Industrial Average forged new all-time highs despite investors taking profits early in the holiday-shortened week.  Semiconductor stalwart NVidia’s fourth-quarter earnings results induced a massive rally in the stock...

Weekly Market Commentary - 2/16/2024 -Darren Leavitt, CFA Wall Street took a breather last week as hotter-than-expected inflation data forced investors to recalibrate their expectations for rate cuts from the Federal Reserve.  Mega-cap issues that have been...

Weekly Market Commentary - 2/9/2024 -Darren Leavitt, CFA The S&P 500 hit another record high and topped the 5000 level for the first time as investors focused on better-than-expected Q4 earnings.  The economic calendar was light this week but showed continued...

-Darren Leavitt, CFA It was a turbulent week on Wall Street as investors assessed the Federal Reserve’s decision on monetary policy while economic data and corporate earnings offered mixed results.   Tensions in the Middle East escalated as the US hit Iranian proxy...

Weekly Market Commentary - 1/26/2024 -Darren Leavitt, CFA US equities inked another set of weekly gains on the back of mixed 4th quarter earnings results and encouraging economic data.  The S&P 500 and Dow set new all-time highs. Dutch Semiconductor Company ASML...

Weekly Market Commentary - 1/19/2024 -Darren Leavitt, CFA The S&P 500 and Dow Jones Industrial Average hit record highs on Friday despite a reset of monetary policy rate cut expectations.  Mega-cap technology issues outperformed with a jump start from the...

Weekly Market Commentary - 1/12/2024 -Darren Leavitt, CFA US Markets gained ground in the second week of 2024, attributed to mega-cap issues in the Information Technology and Communication Services sectors.  The Equal-weight S&P 500 was up 0.2%, while the Mega-Cap...

Weekly Market Commentary - 1/5/2024 -Darren Leavitt, CFA After nine weeks of gains, the market fell in the first week of trading in 2024.  Interestingly, the losses incurred this week largely came from areas of the market that outperformed last year, namely growth and...

Weekly Market Commentary - 12/22/2023 -Darren Leavitt, CFA US equity markets inked an 8th consecutive week of gains as investors continued to foster the soft landing narrative.  Trading volumes lightened as the week progressed and corporate news was relatively quiet. ...

Weekly Market Commentary - 12/15/2023 -Darren Leavitt, CFA The Bull market continued its rally streak to seven consecutive weeks, something not seen since 2017.  Wall Street threw a “pivot party” as the US Federal Reserve’s Open Market Committee meeting ended with a...

Weekly Market Commentary - 12/8/2023 -Darren Leavitt, CFA The S&P 500 gained ground for the sixth consecutive week as US economic data continued to support the soft landing narrative.  Mega-cap issues provided leadership, while small-caps continued to perform...

Weekly Market Commentary - 12/1/2023 -Darren Leavitt, CFA A mélange of factors pushed US equity markets to a sneeze away from record highs.  US Treasuries continued to rally, sending yields lower across the curve.  The soft landing narrative continued as investors...

Weekly Market Commentary - 11/24/2023 -Darren Leavitt, CFA US equity markets inked a 4th straight week of gains despite the market appearing to be overbought.  The holiday-shortened week featured light trading volumes and broad participation.  Earnings results from AI...

Weekly Market Commentary - 11/17/2023 -Darren Leavitt, CFA The S&P 500 closed above 4500 after inking its third consecutive weekly gain.  Temperate economic data released over the last few months has elevated the idea of an economic soft landing and the idea that...

Weekly Market Commentary - 11/10/2023 -Darren Leavitt, CFA Markets were mixed this week as investors digested additional earnings announcements, a plethora of Fed rhetoric, and a large dose of US Treasury issuance.  The divergence of mega-cap stocks widened relative...

-Darren Leavitt, CFA Global financial markets rallied big time last week on dovish tones from central bankers and on the notion that this interest rate hike cycle may be over.  The Bank of Japan kicked the week off with a vague move that sets their 10-year Japanese...

-Darren Leavitt, CFA Equity markets faced another wave of selling as the S&P 500 went into correction territory, down 10.13% from the end of July.  Investors saw some relief from the bond market, but trade in Sovereign debt continued to lack a safe-haven bid...

Weekly Market Commentary - 10/20/2023 -Darren Leavitt, CFA This week, the debt market resumed its sell-off and wreaked havoc on the equity markets.  The US 10-year bond yield hit 5% for the first time since 2007, while longer-tenured issues felt the brunt of the...

Weekly Market Commentary - 10/13/2023 -Darren Leavitt, CFA US equity markets finished the week with mixed results as investors digested the first tranche of third-quarter earnings results. JP Morgan, Citi Bank, Wells Fargo, and United Healthcare had...

Weekly Market Commentary - 10/6/2023 -Darren Leavitt, CFA Investors were treated to another mixed bag of market action as the yield curve steepened on the notion of higher rates for longer.  There were several central bank officials that echoed the need to perhaps...

Weekly Market Commentary - 9/29/2023 -Darren Leavitt, CFA Markets finished a difficult month of September with mixed results.  The prospect of a government shutdown, along with no real progress in the UAW negotiations and a recalibration of interest rate expectations,...

Weekly Market Commentary - 9/22/2023 -Darren Leavitt, CFA US equity markets sold off in tandem with the US Treasury market as the Federal Reserve’s Open Market Committee meeting concluded with no change to its policy rate.  The Fed’s Summary of Economic Projections...

Weekly Market Commentary - 9/15/2023 -Darren Leavitt, CFA It was a roller coaster ride on Wall Street this week, with early-week gains met with a late-week sell-off.  Investors cheered the largest IPO of the year that saw Arm Holdings come to market 10x oversubscribed...

-Darren Leavitt, CFA The holiday-shortened week ended with losses for both US equities and Treasuries.  Apple shares tumbled on the news that the Chinese government would ban the use of the iPhone at government agencies at all levels of government.  The news comes in...

Weekly Market Commentary - 8/25/2023 -Darren Leavitt, CFA Financial markets were all over the place last week and ended with mixed results. The S&P 500 gained 0.8% and closed above 4400, a critical psychological level, but fell short of regaining the 50-day moving...

Weekly Market Commentary - 8/18/2023 -Darren Leavitt, CFA US equity markets fell for the third consecutive week.  The S&P 500 broke its 50-day moving average and then sank below 4400.  The sell-off has been on low volume, and the market may have been due to some...

-Darren Leavitt, CFA US Financial markets had another week of consolidation.  Equities and US Treasuries sold off in tandem on light volume.  An early week debt downgrade of 10 small to midsized banks and a notice that other downgrades may follow by Moody’s dampened...

Weekly Market Commentary - 8/4/2023 -Darren Leavitt, CFA Global equity markets fell last week as investors digested a full dose of Q2 earnings reports, a packed economic calendar, more central bank policy decisions, and Fitch's surprise downgrade of US sovereign debt....

Weekly Market Commentary - 7/28/2023 -Darren Leavitt, CFA It was a busy week on Wall Street with announcements of monetary policy decisions from the Federal Reserve, European Central Bank, and the Bank of Japan, along with an active calendar of Q2 earnings...

Weekly Market Commentary - 7/21/2023 -Darren Leavitt, CFA US financial markets were mixed last week as investors continued to dissect 2nd quarter earnings results and economic data. The notion of a soft landing in the economy resonated with investors even as global...

Weekly Market Commentary - 7/14/2023 -Darren Leavitt, CFA US markets rallied on the notion that the economy may be able to execute a soft landing as inflation wanes and employment continues to hold up.  Inflation data reported during the week showed moderating prices...

Weekly Market Commentary - 7/7/2023 -Darren Leavitt, CFA The holiday-shortened week was discombobulated, to say the least. Trading desks on Wall Street were lightly staffed despite a full economic data calendar.   The start of the third quarter ushered in equity and...

Weekly Market Commentary - 6/30/2023 -Darren Leavitt, CFA Markets ended the month of June in strong form. Better-than-expected economic data for the week showed a resilient economy and inflation moderating. Investors were dismissive of hawkish commentary from ECB...

-Darren Leavitt, CFA US equity markets tapped on the brakes with modest losses across the board.  The notion that higher rates will further dampen global economic growth gave investors reason to take some profits.  Economic data painted a resilient economy but...

Weekly Market Commentary - 6/16/2023 -Darren Leavitt, CFA US equity markets continued to impress with another set of weekly gains. The mega-cap issues retook the lead, while small-cap issues lagged. Global central bank policy was top of mind for investors who received...

Weekly Market Commentary - 6/9/2023 -Darren Leavitt, CFA The S&P 500 entered a new bull market, increasing 20% off the October lows. The move came with broader participation outside the mega-cap technology issues, responsible for most of the market’s performance...

Weekly Market Commentary - 6/2/2023 -Darren Leavitt, CFA Investors enjoyed an excellent week of gains in US equity markets. Washington finally got a debt ceiling deal through Congress and onto President Biden’s desk. On the margin, it appears that the Republicans came...

Weekly Market Commentary - 5/26/2023 -Darren Leavitt, CFA As investors awaited news from the debt ceiling negotiations, markets continued to ebb and flow.  The S&P 500 continued to trade range-bound, oscillating between 4100 and 4200.  Fed rhetoric continued to...

Weekly Market Commentary - 5/19/2023 -Darren Leavitt, CFA Investors were treated to a week of gains for US indices, while US Treasuries fell significantly across the curve. Early in the week, there was cautious optimism around debt ceiling negotiations as both sides...

Weekly Market Commentary - 5/12/2023 -Darren Leavitt, CFA US equity and fixed-income markets continued to trade in a tight range. 4100 proved to be support for the S&P 500, while the US 10-year note yield oscillated around 3.46%. Cyclical issues were under...

Weekly Market Commentary - 5/5/2023 -Darren Leavitt, CFA Investors were treated with an extremely busy start to May. Central bank decisions on monetary policies and more first-quarter earnings were front and center, while there was a full slate of economic data to...

Weekly Market Commentary - 4/28/2023 -Darren Leavitt, CFA Markets ended the month of April with slight gains for the large-cap indices and small losses for the small-caps. Q1 earnings continued to be in focus as some of the most influential companies posted mixed...

Weekly Market Commentary - 4/21/2023 -Darren Leavitt, CFA US equities traded sideways throughout the week as investors contemplated Q1 earnings reports, more Fed rhetoric, and weakening economic data. International markets were also off for the week, with Chinese...

Weekly Market Commentary - 4/14/2023 -Darren Leavitt, CFA Trade was quiet this week as investors awaited inflation data and the start of first-quarter corporate earnings.  Inflation data was mixed but showed another month of moderating prices.  The reported inflation...

Weekly Market Commentary - 4/7/2023 -Darren Leavitt, CFA The holiday-shortened week saw low volumes in trading, where countercyclical sectors and US Treasuries were favored.  The week started with the announcement that OPEC + would cut oil production by 1.16 million...

Weekly Market Commentary - 3/31/2023 -Darren Leavitt, CFA Global equity markets ended the first quarter with impressive gains as concerns surrounding the banking system eased.  A two-day congressional hearing on the failure of Silicon Valley Bank catalyzed the call...

Weekly Market Commentary - 3/24/2023 -Darren Leavitt, CFA Global markets sighed in relief with the announcement that the Swiss National Bank had brokered a deal, combining Credit Suisse with UBS. Investors had been worried that troubles within Credit Suisse could have...

Weekly Market Commentary - 3/17/2023 -Darren Leavitt, CFA Financial markets continued to be erratic as investors assessed the health of the global banking system. The failures of Silicon Valley Bank and Signature Bank were met with multiple responses from the federal...

Weekly Market Commentary - 3/10/2023 -Darren Leavitt, CFA Wall Street endured a difficult week with volatile fluctuations in equity and fixed-income markets. Fed President J Powell’s testimony in front of congress kicked off the market’s chaotic week when he suggested...

Weekly Market Commentary - 3/3/2023 -Darren Leavitt, CFA US equity markets bounced on oversold conditions and their ability to hold key technical levels this week.  The S&P 500 broke its 50-day moving average (3980) and then tested the 200-day moving average...

Weekly Market Commentary - 2/24/2023 -Darren Leavitt, CFA It was another tough week on Wall Street as US equity markets continued to retreat alongside a sustained selloff in the US debt markets. The calendar was again stacked with economic data showing an economy...

Weekly Market Commentary - 2/17/2023 -Darren Leavitt, CFA US equity markets finished the week mixed, as economic data reported during the week indicated that inflation remains elevated.  Fed rhetoric was prevalent and had a more hawkish tilt.  Cleveland Fed President...

Weekly Market Commentary - 2/10/2023 -Darren Leavitt, CFA Wall Street pulled in its horns last week as investors sensed the market was overbought. Concerns about the outlook for corporate earnings and historically high valuations tempered buyers’ enthusiasm for...

Weekly Market Commentary - 2/3/2023 -Darren Leavitt, CFA Investors were hit with a full dose of market-moving events and data throughout the week. The Federal Reserve, Bank of England, and European Central Bank increased their respective policy rates. The Fed raised...

Weekly Market Commentary - 1/27/2023 -Darren Leavitt, CFA Momentum trade pushed US equity markets higher and forced shorts to cover and those sitting in cash to move off the sidelines for fear of missing out on further gains. Fourth quarter earnings continued to come...

Weekly Market Commentary - 1/20/2023 -Darren Leavitt, CFA Inflation data showed prices easing in the US and Europe while Japanese CPI hit a level not seen since the 1980s.  The downtrend in US producer prices, coupled with weaker-than-expected US retail sales and a...

Weekly Market Commentary - 1/13/2023 -Darren Leavitt, CFA Equity markets continued to rally in the second week of January as investors considered the idea of a Fed-orchestrated soft landing. An inline December CPI showed consumer prices falling on the headline number...

Weekly Market Commentary - 1/6/2023 -Darren Leavitt, CFA The start of the New Year brought volatility with it. Markets sold off early in the week and tested a critical technical level on the S&P 500 (3800), then bounced significantly to regain support and end the...

Weekly Market Commentary - 12/30/2022 -Darren Leavitt, CFA Financial markets finished the final week of 2022 trading with a whimper.  Year-end tax-loss harvesting and asset class rebalancing accounted for much of the volume in light trade.  The technical level of 3800...

Weekly Market Commentary - 12/23/2022 -Darren Leavitt, CFA The S&P 500 incurred its third straight weekly loss as investors assessed the increasing likelihood of a global recession and its impact on current earnings estimates.  Markets also had to contend with a...

Weekly Market Commentary - 12/16/2022 -Darren Leavitt, CFA US equity markets started the week recouping from last week’s losses in hopes of a cooler CPI print and a more dovish stance from the Federal Reserve Open Market Committee.  Investors did cheer a...

Weekly Market Commentary - 12/9/2022 -Darren Leavitt, CFA Markets gave back gains inked over the last couple of weeks as investors pulled off risk in front of the upcoming Federal Reserve Open Market Committee meeting. The market expects the Fed to increase its policy...