Election Year and The Economy: Is it Something to Worry About?

David B. Armstrong, CFA Weekly Market Commentary

“It’s different this time!” – Unknown Unknown—seriously. I mean, it’s such a common chorus how can it be attributed to any one person? But with November coming around, it’s gonna become a rallying cry for anyone who feels like their preferred candidate will lose and cause the market to tank.  Here’s from Paul Krugman’s 2016 election night article, “What Happened …

Midterm Elections

Is it Really The Death of Equities?

David B. Armstrong, CFA Weekly Market Commentary

For some reason the markets just do not seem to care much about headlines – President Trump ending ACA cost-sharing payments…U.S. maybe leaving NAFTA…ending the Iran nuclear agreement…Rocket Man…the tax reform debate raging on. But the S&P 500 just made it a 5th positive week on some earnings optimism. So yes, it’s earnings season again, but the peak period for …

Tax Reform and Infrastructure Spending

Hurricanes, the Economy and Tax Reform

David B. Armstrong, CFA Weekly Market Commentary

Our thoughts go out to all of those who have been impacted by Harvey and Irma. There have been a lot of great charitable contributions over the past two weeks but if you are still looking to do something, please consider the animals.  As most of you know, I’m one of those people who treats my dogs as if they …

I Hate Nazis

Back from Vacation

David B. Armstrong, CFA Weekly Market Commentary

My first post-vacation blog. I go on a two-week vacation and poof, the Nazis are back? Thank God I didn’t take three weeks off. WTF!? I could not help but open with a little levity. We all could use some. For those of you who don’t get the reference to the picture, there was a great scene in The Blues …


Quick Thoughts on DOW 20,000

David B. Armstrong, CFA Weekly Market Commentary

Dow 20,000 is the talk of the town. There is no escaping it. As I write this (Wednesday at 10:36 am), the index is a mere 0.60% away. But a question being asked, explicitly and implicitly, is this: “Do the current valuation levels (specifically P/E Ratios) signal a market top?” My opinion? Not by themselves. Research from LPL Financial and …


Why the Shrinking Unemployment is Not as Good as it Seems

David B. Armstrong, CFA Weekly Market Commentary

Well, we finally had a negative week in the S&P 500, post-election. It was trading down 0.97% for the week, and ended up at an index level of 2,192. The Dow Jones Industrial Average was barely positive, clocking in with a 0.1% gain on the week to close at 19,170. There was good news with employment and an interest rate …