Entries by Cornerstone

One of the Most Remarkable Market Trips in History

Global equity indices marked new record highs last week, capping off what has truly been one of the most remarkable market round trips in history. The Bloomberg World Equity Index fell over 30% in a month last spring and went on to rally 45% over the following five months. The S&P 500 came within a […]

Equity Markets Post Healthy Gains Closing Strong

Last week, equity markets bolted on to some already pretty gaudy results of the past several weeks, coming within 1% of February’s record high on an intraday basis. The first full week of August felt pretty bullish with all U.S. equity classes and sectors posting healthy gains and only Brazil was left out of the […]

US Markets Close Out July on Strong Note

Equity markets closed out July on a strong note with the S&P 500 up 1.7% while international and emerging markets were down. European stocks fell 3% on the week. Mega cap growth stocks plowed through Congressional interrogations and posted strong earnings to lead markets higher but cyclical areas of the market (energy, materials, financials) lagged. […]

Stimulus Push Benefits Risk Markets Early.

Risk markets benefited early in the week from another stimulus push. Encouraging reports on three potential coronavirus vaccines resulting in the S&P 500 marking a new post-CoVid-19 high but ended up limping into the weekend on concerns surrounding stimulus negotiations in DC and some unfavorable earnings from several technology names. Tech and communication services (FB, […]

Equity Markets Climb the Steep Wall of Worry.

Equity markets climbed the wall of worry last week, finishing up 1%-3% across the cap spectrum. The push-pull of the virus, positive vaccine news, and rebounding economic data left the S&P right at the resistance level that it has held since early June. Healthcare and the cyclicals drove the rally with some interesting internals where […]

4th of July Week Markets End With a Healthy Bang.

Fourth of July fireworks continued into last week with strong bookends (M&F) delivering healthy gains driven once again by larger cap and tech-oriented names. The S&P 500 finished up 1.8% while small caps lost 0.64%. Strength at the top end of the market cap weighted S&P 500 continued to be pronounced. Commodities posted a respectable […]

NASDAQ Finishes at New Record as Markets Rally.

Markets shrugged off the prior week of rising coronavirus anxiety, instead choosing to embrace encouraging economic reports during last week’s holiday shortened 4-day trading session. The NASDAQ posted its biggest weekly gain since early May, finishing at a new all-time high while the S&P 500 tacked on over 4% with all sectors finishing in the […]