highlights U.S. equities finished most lower on the week after record setting performance by the Russell 2K, S&P 500, and Dow Jones Industrial the prior week. Treasuries came under further pressure as the 10-year yield climbed to its highest level since January 2020, topping 1.7%. WTI crude fell over 6% on the week amid short…
highlights U.S. equities finished at record highs last Friday (S&P 500, Dow Jones and Russell 2K) with all 11 sectors closing higher on a weekly basis. U.S. treasuries continued their climb higher as the 10-year yield moved past 1.6% as the 2-year/10-year spread touched its widest mark since 2015. It was a light week of…
highlights The Tech-heavy NASDAQ was the worst performing index for the week, falling more than 2% as investors saw growth names come under additional pressure, while value-related names rallied. Performance dispersion between growth and value widened, even as tech valuation premiums have narrowed from a January high. On Thursday, Fed Chairman Jerome Powell did little…
highlights The 10-year move as high as 1.61%, which was above the widely watched dividend yield of the S&P 500. With 96% of the Q4 earnings completed, S&P constituents are posting a nearly 4% y/y earnings growth. The ICE Bank of America MOVE Index saw its sharpest upswing in more than four months last week.…
highlights Broader U.S. benchmarks dropped with the continued backup in rates and rotation to value names. There was not anything specific behind the big backup in bond yields this week, which saw the 10-year note jump 15bps to 1.34%, and the 30-year rise to 2.13%, its highest level in more than a year. The S&P…
highlights Equities finished higher to end the shortened holiday week, led by the NASDAQ which gained over 4%. The big story throughout the week was the reversal of Value’s recent outperformance. Positioning in FANMAG (Facebook, Apple, Netflix, Microsoft, Amazon, Google) is at its lowest levels since mid-2019, following along with Bank of America’s Global Fund…
highlights The Russell 2K was the only index to buck broader selling pressures on the week as the Dow, SPX and NASDAQ all ended lower. Some of the most crowded shorts are up 10-20% already on the year, and a quick look at the Goldman Sachs most crowded short index shows the index is already…
highlights U.S. Equities kicked off 2021 on a positive note with all major indexes finishing the week up over 1.5%. The Russell 2K was the standout performer gaining nearly 6% over the course of the week, following November and December’s ferocious rally in which the index gained 18% and 8.5%, respectively. Saudi Arabia stated they…
highlights U.S. equities finished higher on the shortened holiday week, rallying into year-end. For a second year in a row, stocks once again posted strong gains. Eight of the 11 U.S. sectors finished in the green for the year led by Technology, which gained just under 44%, its best year/year gain since 2009. Seven Tech…
highlights The S&P snapped a two-week winning streak, while the NASDAQ closed lower on a weekly basis for the first time since November 13th. The Russell 2K and Small Caps were the standout performer, closing higher for a sixth straight week, adding 1.03%. After receiving an FDA panel’s approval on Thursday, the agency granted Pfizer/BioNTech…