In The Money

“A Wall Street Walk Through Time” Robert Penn Warren (April 1905 – September 1989) was an American poet, novelist, and literary critic who once said, “History cannot give us a program for the future, but it can give us a fuller understanding of ourselves, and of our...

Short-term Summary: With 3Q17 earnings season largely complete, tax policy continues to dominate headlines. Another focus this week has been a shift in risk sentiment towards a risk-off trade as the yield curve has seen some flattening and junk bond performance...

Short-term Summary: Earnings and the path of tax policy changes continue to be the most influential variables affecting equity markets. Regarding the latter, the Senate Finance Committee is expected to release its tax policy proposal today; and there are also...

Short-term Summary:  The S&P 500 remains at its highs, on the heels of solid earnings growth and economic activity, as well as the potential for tax cuts. Today, the House Ways and Means Committee released its tax bill, which will now go to the Senate Finance...

Short-term Summary:  3Q17 earnings season is in full swing with 231 of the S&P 500 companies having reported thus far and another 152 to announce through next Friday. In aggregate, S&P 500 companies have reported 7.8% earnings growth on sales growth of 5.0%...

Short-term Summary:  The S&P 500 continued its steady advance higher over the past week, as 3Q earnings season kicked off and tax policy remains at the forefront of the Congressional agenda. The Senate is expected to vote on the budget today, which will let the...

Short-term Summary:  The S&P 500 continued its steady advance higher over the past week, as 3Q earnings season kicked off and tax policy remains at the forefront of the Congressional agenda. The Senate is expected to vote on the budget today, which will let the...

Short-term Summary:  Following its break out to new highs on September 11, the S&P 500 has made 13 new closing highs over the past month in what has been a fairly steady climb higher. Over the past week, the index has basically moved sideways; and in the process,...

Short-term Summary Over the past week, all major indexes (S&P 500, Dow Jones Industrial Average, S&P Mid Cap 400, S&P Small Cap 600, Nasdaq Composite, and Russell 2000) were able to break out to new highs. The S&P 500 gained 1.7% during the week and is...

Short-term Summary: The S&P 500 has sustained its recent strength, fueled this week by the “Big Six” tax proposal.  Some of the high points include a proposed 20% corporate tax rate (from 35%), one-time/low repatriation tax, near doubling of the standard deduction...