We Were Wrong

David B. Armstrong, CFA Weekly Market Commentary

Well, no sooner than we say that the Bush tax cuts will be extended, we learn that they will not be extended until after the election.  There’s a good chance that a deal won’t be cut in a lame duck session either, so a temporary expiration is possible at this point.  However, there is some good news. We still think …

“Hey Ma, can we get some Meatloaf?!?”

David B. Armstrong, CFA Weekly Market Commentary

In a hilarious scene from Wedding Crashers, Will Farrell screams several memorable quotes asking his mom to bring him and Owen Wilson some meatloaf.  He wants, but he does not get – several times.  Many investors have been feeling the same way over the course of this year, but last week went a long way towards easing some market jitters.  …

“You forgot ugly, lazy, disrespectful…”

David B. Armstrong, CFA Weekly Market Commentary

The extended Labor Day weekend afforded me the opportunity to re-watch one of the classic movies from the ’80, The Breakfast Club.  The title of today’s report is a quote from that movie and when I heard it, it made me think of the recent economic news and market action – I thought it was appropriate for today’s truncated weekly Monument …

Last week there was actually some GOOD NEWS…

David B. Armstrong, CFA Weekly Market Commentary

The equity market indices were mixed again last week with the Dow Jones Industrial Average losing 0.62% to finish at 10,151, the S&P 500 Index lost 0.66% to finish at 1,065 and the Nasdaq Composite Index lost 1.20% to finish at 2,154. The Russell 2000, which measures smaller capitalization stocks, gained 0.98% to finish at 616.76. The stock market clearly …

Weekly jobless claims were at 500,000 – but who expected companies to be hiring?

David B. Armstrong, CFA Weekly Market Commentary

The equity market indices were mixed last week with the Dow Jones Industrial Average losing 0.87% to finish the week at 10,214, the S&P 500 Index losing 0.70% to finish at 1,072 and the Nasdaq Composite Index gaining 0.29% to finish at 2,180.  The Russell 2000, which measures smaller capitalization stocks, gained 0.21% to finish at 610.78. Economic reports continue …

Friday the 13th concluded a dismal week in the markets.

David B. Armstrong, CFA Weekly Market Commentary

The S&P ended the week down 3.8% and at one point the intra-day low reached back to mid-June levels before recovering.  The economic news of last week contained a clear acknowledgment by the Federal Reserves’ Open Market Committee that the economic recovery was not moving forward as they had anticipated and that its pace would be more modest over the …

Job losses- marginally bad news for all, but it was worse for the double dip bears.

David B. Armstrong, CFA Weekly Market Commentary

August completed its first week with the markets finishing higher despite the jobs report on Friday. This news seems to confirm our thought that the economy has hit a soft patch.  While the economic data was not particularly strong– especially the jobs report– it was not weak enough for anyone to declare that a double dip recession is upon us …

Double Dip, No… Soft Patch, Yup

David B. Armstrong, CFA Weekly Market Commentary

July ended up being the best month of the past year for the S&P 500 when it posted a 6.9% return for the month.  The combination of good earnings reports and decent economic news contributed to the month-long rally.  However, the market action last week was basically flat as the Gross Domestic Product was released showing economic growth had slowed …