Weekly Market Commentary - 11/5/2021 -Darren Leavitt, CFA Wow-what a week on Wall Street!  US equity indices hit another set of all-time closing highs. Market sentiment was bolstered on several different fronts.  3rd quarter corporate earnings continued to impress,...

Weekly Market Commentary - 10/29/2021 -Darren Leavitt, CFA Wall Street faced a deluge of corporate earnings in the final week of October.  Generally, reports were better than expected but tempered by management concerns related to the current state of the global...

Weekly Market Commentary - 10/22/2021 -Darren Leavitt, CFA US financial markets rallied throughout most of the week, with the S&P 500 touching a new intraday high and the Dow closing at a new all-time high.  Corporate earnings dominated the headlines and were, for...

Weekly Market Commentary - 10/15/2021 -Darren Leavitt, CFA US Financial markets rallied across the board on a solid start to the 3rd quarter corporate earnings season.  The Consumer Discretionary sector led gains with a 3.6% advance off of much better than expected...

Weekly Market Commentary - 10/15/2021 -Darren Leavitt, CFA US Financial markets rallied across the board on a solid start to the 3rd quarter corporate earnings season.  The Consumer Discretionary sector led gains with a 3.6% advance off of much better than expected...

Weekly Market Commentary - 10/8/2021 -Darren Leavitt, CFA Markets started the week lower but were able to recover losses and make slight gains by the end of the week.  Concerns regarding the debt ceiling, the static state of the infrastructure bill, raw materials...

Weekly Market Commentary - 10/1/2021 -Darren Leavitt, CFA Financial markets took a step back in the final week of the third quarter.  Increased inflation expectations pushed US Treasury yields higher, which induced valuation concerns on large-cap growth stocks. Rising...

Weekly Market Commentary - 9/24/2021 -Darren Leavitt, CFA Financial markets had a rollercoaster ride over the week that started on fears that one of China’s largest land developers would default on their debt which stoked rhetoric of a systematic breakdown in the...

Weekly Market Commentary - 9/17/2021 -Darren Leavitt, CFA US financial markets endured another week of losses that ended with the S&P 500 closing below its 50-day moving average on a quadruple witch expiration.  Although investors were treated to better than...

Weekly Market Commentary - 9/10/2021 -Darren Leavitt, CFA The holiday-shortened week produced negative returns across the board for US equity indices.  The month of September has historically been a tough month for equities, and given the outsized moves we have seen...

Weekly Market Commentary - 9/3/2021 -Darren Leavitt, CFA Mega-cap technology issues pushed markets to another set of all-time highs in front of the Labor Day weekend holiday as traders rotated out of issues tied to the reflation trade.  Ironically, growth issues...

Weekly Market Commentary - 8/27/2021 -Darren Leavitt, CFA It was a hectic news week. The S&P 500 and NASDAQ hit a set of new all-time highs as Wall Street and global central banks focused on Federal Reserve rhetoric from the virtual economic symposium at Jackson...

Weekly Market Commentary - 8/20/2021 -Darren Leavitt, CFA US Financial markets fell from their recent all-time highs on fears that economic growth could falter.  Traders rotated out of the reflation trade as Covid infection rates increased and the efficacy of our...

Weekly Market Commentary - 8/13/2021 -Darren Leavitt, CFA The S&P 500 and the Dow inked new all-time highs as the Financials, Materials, and Consumer Staples did well over the week.  Energy and Small Caps lagged.  The Senate passed the 1.2 trillion dollar...

Weekly Market Commentary - 8/6/2021 -Darren Leavitt, CFA US equity indices forged new all-time highs on the back of an impressive Employment Situation Report and an upward S&P 500 price target revision by investment bank Goldman Sachs.  However, the US Treasury...

Weekly Market Commentary - 7/30/2021 -Darren Leavitt, CFA It was a hectic week on Wall Street as second-quarter earnings continued to roll in with mixed results.  Apple, Microsoft, Amazon, Facebook, and Google, which are very influential on the indices, generally sold...

Weekly Market Commentary - 7/23/2021 -Darren Leavitt, CFA US Financial markets started the week off much as it had ended the prior week, in the red.  A continuation of the peak growth narrative catalyzed further by increased Covid infection rates stemming from the...

Weekly Market Commentary - 7/16/2021 -Darren Leavitt, CFA Despite hitting another set of all-time highs, US financial markets ended the week lower.  2nd quarter earnings kicked off with better than expected results from the financials; however, banks shares generally...

Weekly Market Commentary - 7/9/2021 -Darren Leavitt, CFA The holiday-shortened week produced significant swings in the equity and fixed income markets as investors continued to contemplate where we are in the economic cycle.  The peak growth narrative appeared early...

Weekly Market Commentary - 7/2/2021 -Darren Leavitt, CFA Economic data for the week was headlined by the Employment Situation Report that resulted in mixed results. The S&P 500, the Dow, and the NASDAQ forged another set of all-time highs while the Russell 2000...

Weekly Market Commentary - 6/25/2021 -Darren Leavitt, CFA US Financials markets bounced back from last week’s sell-off as buy the dip buyers stepped in and pushed the S&P 500 above its 50-day moving average.  Comments for Fed Chairman J. Powell, who was testifying...

-Darren Leavitt, CFA US equity indices fell across the board for the week on a more hawkish than expected statement from the Federal Reserve's Open Market committee meeting.  In the Q&A after the release of the FOMC statement, Fed Chairman Jerome Powell provided a...

Weekly Market Commentary - 6/11/2021 -Darren Leavitt, CFA The S&P 500 hit all-time highs on the week in very tight market action.  Cyclicals and US Treasury yields fell throughout the week on the notion that the economy has seen peak growth and peak inflation...

Weekly Market Commentary - 5/28/2021 -Darren Leavitt, CFA Financial markets moved higher throughout the week as the inflation debate continued on Wall Street. A full economic calendar was headlined by the PCE Price Index, the Federal Reserve’s preferred measure of...

Weekly Market Commentary - 5/21/2021 -Darren Leavitt, CFA The financial markets were in consolidation mode as a volatile risk-off trade in cryptocurrencies exacerbated concerns about inflation and valuations.  A sell-off in commodities curbed investors' appetite for...

Weekly Market Commentary - 5/14/2021 -Darren Leavitt, CFA It was a volatile week on Wall Street that saw the major US equity indices fall across the board.  Inflation fears were stoked by a hot Consumer Price Index reading and surging gas prices caused by a ransomware...

Weekly Market Commentary - 5/7/2021 -Darren Leavitt, CFA US equity indices finished the week mixed as a strong rotational trade into cyclicals and out of high growth technology issues reappeared.  The S&P 500 and Dow forged new all-time highs as the tech-heavy...

Weekly Market Commentary - 4/30/2021 -Darren Leavitt, CFA It was a hectic week on Wall Street highlighted by large-cap technology Q1 earnings, the April Federal Reserve Open Market Committee, and a busy economic data calendar.  Trading was mixed throughout the week...

-Darren Leavitt, CFA US equity markets finished mixed on the week as Q1 earnings continued to surprise to the upside.  Markets pulled back sharply on Thursday on reports that the Biden administration will propose increasing the capital gains tax, and economic data...

-Darren Leavitt, CFA US equity indices hit another set of all-time highs in what was a very busy week on Wall Street.  First-quarter earnings season kicked off, with US Banks showing impressive results.  Markets were well bid throughout the week and moved higher...

-Darren Leavitt, CFA Markets continued to rally, but the advance came on quiet trading volume. Robust economic data coupled with a solid economic outlook from JP Morgan’s CEO Jamie Diamond catalyzed buying.  First-quarter earnings start in earnest in the coming week,...

Weekly Market Commentary - 3/26/2021 -Darren Leavitt, CFA It was a mixed week on Wall Street that saw continued quarter-end rebalancing that supported pro-cyclical issues and hindered mega-cap growth issues.  For the week, the S&P 500 gained 1.6%, the Dow added...

Weekly Market Commentary - 3/19/2021 -Darren Leavitt, CFA It was a hectic week on Wall Street that saw the major US equity indices fall as interest rates continued to rise.  All eyes were on the Federal Reserve's two-day FOMC meeting that concluded on Wednesday with a...

Weekly Market Commentary - 3/12/2021 -Darren Leavitt, CFA The S&P 500, Dow, and Russell 2000 equity indices made fresh all-time highs for the week while the NASDAQ rebounded from its sell-off over the last couple of weeks.  President Biden signed the 1.9 trillion...

Weekly Market Commentary - 3/5/2021 -Darren Leavitt, CFA US financial markets finished the week with mixed results as another spike in interest rates induced a sharp sell-off in growth stocks.  Inflation concerns were heightened on commentary from Federal Reserve...

Weekly Market Commentary 2/26/2021 -Darren Leavitt, CFA A continued steepening of the yield curve induced selling of all asset classes throughout the week.  Economic growth expectations have stoked inflation fears, sending the 10-year note yield fifty-two basis points...

Weekly Market Commentary 2/19/2021 -Darren Leavitt, CFA Markets sold off a bit last week in a rotational trade into pro-cyclical sectors and out of growth stocks.  Fourth-quarter earnings continued to come in better than expected while economic data for the week was...

Weekly Market Commentary 2/12/2021 -Darren Leavitt, CFA Markets rallied to all-time highs on continued positive sentiment surrounding the reopening of global economies and on the fear of missing out on further gains.  Markets opened the week on a strong note with...

Weekly Market Commentary 2/5/2021 -Darren Leavitt, CFA Markets rebounded strongly in the first week of February.  Fourth-quarter earnings continued to beat expectations, vaccines continued to go into arms, and economic data continued to be mixed, which fostered more...

Weekly Market Commentary 1/29/2021 -Darren Leavitt, CFA Markets sold off in volatile trade as retail investors wreaked havoc in heavily shorted companies.  The fourth-quarter earnings season continued to produce better than expected results, although it appears stock...

Weekly Market Commentary 1/22/2021 -Darren Leavitt, CFA The mega-cap technology issues led markets to another set of all-times as cyclicals took a step back after being red hot for the last several weeks.  Fourth-quarter earnings continued to roll out with mixed...

Weekly Market Commentary 1/15/2021 -Darren Leavitt, CFA Markets gave up a bit of ground last week as fourth-quarter earnings season kicked off and President-Elect Biden laid out his 1.9 trillion dollars economic stimulus plan.  Economic data was mixed but painted a...

Weekly Market Commentary 1/8/2021 -Darren Leavitt, CFA Wow-what a way to start 2021.  US equity averages hit another set of all-time highs despite Washington's political turmoil and a Democratic sweep in the Georgia Senate runoff elections.  Economic data continued to...

Weekly Market Commentary 12/25/2020 -Darren Leavitt, CFA US equity markets were mixed in a holiday-shortened week. Corporate news was limited but influenced individual issues while trade was relatively subdued.    Investors continued to focus on Washington...

Weekly Market Commentary 12/18/2020 -Darren Leavitt, CFA Choppy trade action throughout the week led US stock indices to another set of all-time highs. Coronavirus stimulus package negotiations dominated headlines while the December Federal Reserve meeting affirmed...

Weekly Market Commentary 12/11/2020 -Darren Leavitt, CFA Market action was mixed for the week.  Hope for another tranche of stimulus and positive news on a coronavirus vaccine's progress aided market sentiment early in the week.  However, COVID-19 infection rates...

Weekly Market Commentary 12/4/2020 -Darren Leavitt, CFA US equity markets hit another set of all-time highs last week.  Positive price momentum carried over from a strong November into the start of December, and more positive news on Covid-19 vaccines coupled with the...

Weekly Market Commentary 11/27/2020 -Darren Leavitt, CFA US financial markets hit all-time highs during the week, with the Dow surpassing the 30,000 mark for the first time.  If markets can hold on to gains in Monday’s trading session, it will become the best November...

Weekly Market Commentary 11/20/2020 -Darren Leavitt, CFA Financial markets were mixed last week.  Cyclicals continued to outperform on news that Moderna and AstraZeneca vaccine trials have shown excellent results.  3rd quarter earnings continued with better than...

Weekly Market Commentary 11/13/2020 -Darren Leavitt, CFA Financial markets rallied to all-time highs on news that Pfizer and BioNTech have a 90% effective Covid-19 vaccine.  The news induced a robust rotation trade out of Mega-cap Technology shares into value-oriented...

October 30th, 2020 -Darren Leavitt, CFA Markets sold off in what was a hectic week.  The earnings and economic calendar were stacked.  Coronavirus infection rates ticked higher and induced lockdown measures in France, Germany, and the UK, which hindered sentiment. ...

October 23rd, 2020 -Darren Leavitt, CFA Markets traded sideways for much of the week as investors continued to watch Washington fail to negotiate another tranche of stimulus.  3rd quarter earnings continued to roll-out with results coming in mixed.   The familiar...

October 16th, 2020 -Darren Leavitt, CFA US Market averages were little changed for the week.  The beginning of 3rd quarter earnings started with ho-hum results from the financials, some transports also missed the mark, and a high flying cloud computing company,...

October 9th, 2020 -Darren Leavitt, CFA Markets extended their rally last week on optimism around another tranche of stimulus.  Value-oriented small-cap cyclicals were in favor and sent the Russell 2000 up 6.4% for the week.  The S&P 500 gained 3.8%, the Dow was...

October 2nd, 2020 -Darren Leavitt, CFA Financial markets rallied last week, putting an end to four straight weeks of losses.  Investor optimism was stoked early in the week on news that the Administration and Democrats were working on a fiscal stimulus compromise. ...

September 28th, 2020 Chadd Mason, CEO The Cabana Group Volatile Markets Continue as We Approach an All-Important Earnings Season U.S. equity indexes continue to experience heightened volatility. This has been the case for much of September and should come as no...

September 21st, 2020 Chadd Mason, CEO The Cabana Group A Necessary Dose of Reality Equity markets resumed selling after the Federal Reserve meeting last Wednesday. The 50-day moving average on the S&P 500 was promptly broken, and closed well beneath that important...

September 14th, 2020 Chadd Mason, CEO The Cabana Group Volatile Markets and Wildfires Continue, But Not All News is Bad Markets continue to be volatile this week as investors try to determine whether we have come too far too fast off the March lows. The good news is...

September 8th, 2020 Chadd Mason, CEO The Cabana Group Stocks Enter Uncharted Waters During Most Volatile Time of the Year Equity markets hit a wall on Thursday and selling began in earnest for the first time since March. In my opinion, the straight up move in equity...

August 31st, 2020 Chadd Mason, CEO The Cabana Group Is the S&P 500 a True Reflection of the U.S. Economy? The S&P 500 has officially closed out weekly trading at new all-time highs. It is now up nearly 8% for the year. We have watched this “broad” index battle...

August 24th, 2020 Chadd Mason, CEO The Cabana Group Tech Companies Lead the S&P 500 to Record Highs This past week the S&P 500 battled resistance at its previous all-time highs (just below 3400). We had two consecutive record closes, only to fall back after...

August 18th, 2020 Chadd Mason, CEO The Cabana Group There are Many Unknowns, but the Market Continues to March On The S&P 500 and the Dow continue their respective attempts to break through the all-time highs established in February. Both major indices have been...

August 10th, 2020 Chadd Mason, CEO The Cabana Group The S&P 500 Inches Closer to All-Time Highs, Encouraged by Q2 Earnings Major equity indices are positive for the year. The Nasdaq is now at all-time highs on the back of blowout performance from Amazon, Google,...

August 3rd, 2020 Chadd Mason, CEO The Cabana Group All Eyes on Congress Equity markets continue to push higher in the face of ongoing uncertainty. We discussed last week that the next probable stop for the S&P 500 (SPY) is the February high of 3400. We continue to...

August 3rd, 2020 Chadd Mason, CEO The Cabana Group All Eyes on Congress Equity markets continue to push higher in the face of ongoing uncertainty. We discussed last week that the next probable stop for the S&P 500 (SPY) is the February high of 3400. We continue to...

July 13th, 2020 Chadd Mason, CEO The Cabana Group Equity Markets Show Strength Ahead of Bank Earnings Equity markets moved to the high end of their trading range over the past week. For those keeping track, the S&P 500 has been rangebound between 3000 and 3200 for...

July 7th, 2020 Chadd Mason, CEO The Cabana Group Midyear Outlook: Acknowledging Where We Are To start, I hope everyone had a safe and restful July 4th holiday. Time spent with family and friends is what matters most. The older I get the more that reality sinks in. I...

June 22nd, 2020 Chadd Mason, CEO The Cabana Group Covid-19 Cases Spike in the U.S. as Boeing Resumes 737 Max Test Flights The S&P 500 closed on Friday just below its 200-day moving average. This was the culmination of a 5% drop for the week. The Dow and Nasdaq...

June 22nd, 2020 Chadd Mason, CEO The Cabana Group Which Way Will the Market Break? U.S. equity markets continue to be range bound but hold above the all-important 200-day moving average at 3000 (S&P 500). I read over the weekend that there remains a record amount...

June 15th, 2020 Chadd Mason, CEO The Cabana Group Markets Show Important Reversal at Even More Important Level Two weeks ago, we commented on the ongoing test faced by the broad indices at their respective 200-day moving average. We noted that if equity markets were...

June 1st, 2020 Chadd Mason, CEO The Cabana Group The Stock Market Continues to Climb as Protests Spread Nationwide Equity markets closed out the month of May with big gains. The S&P 500 climbed more than 5% for the month despite a lot of volatility. Swings of more...

May 26th, 2020 Chadd Mason, CEO The Cabana Group What Investors Can learn from Today's Market Equity markets worldwide continue to climb in the face of dire economics. In two decades of investing I have never seen a starker example of investors immediately setting the...

May 18th, 2020 Chadd Mason, CEO The Cabana Group Markets Closed Up Big Today Amid Positive Coronavirus Vaccine Results The past week saw continued volatility as equities sold off Monday, Tuesday and Wednesday just below the 200-day moving average and right at the late...

April 27th, 2020 Chadd Mason, CEO The Cabana Group Will COVID-19 Change Our World (and our Markets) Forever? As our country begins to consider reopening for business, I am left wondering how we will forever be changed? Will we shake hands with new acquaintances? Will...

- David Young, CFA Oil Prices: A Primer Like many commodity contracts in the investment world, oil futures trade on a time-based curve. By this, we mean that oil futures contracts have different expiration dates. At the expiration date a contract holder takes...

April 14th, 2020 Chadd Mason, CEO The Cabana Group The Investment Process Magnified to the Tenth Degree Investors in markets of all types continue to try and assess the damage to corporate earnings that will be seen over the next few months as a result of the...

April 7th, 2020 Chadd Mason, CEO The Cabana Group Market Swings Continue Among Coronavirus Optimism Equity markets continue to experience wild swings in both directions. Last week, we saw two big up days, mixed in with three down days. The S&P 500 finished down...

March 30th, 2020 Chadd Mason, CEO The Cabana Group Americans Come Together as Markets Close Out Worst Quarter Since 1987 Stock markets around the world are trying to stabilize after the historic drop we have seen this month. Swings of 4% a day have been the rule for...

March 23rd, 2020 Chadd Mason, CEO The Cabana Group U.S. Economy and Day-to-Day Life Comes to a Complete and Sudden Halt On behalf of everyone here at Cabana, I want to wish our clients, investor partners and friends good health and peace at this time. What we are...

March 16th, 2020 Chadd Mason, CEO The Cabana Group Market Volatility Spikes to Record Highs U.S. and international equity markets dropped 11% just today and are down almost 20% this month alone. Year to date, the S&P 500 is down more than 25%. COVID-19 started in...

March 9th, 2020 Chadd Mason, CEO The Cabana Group All True Investing Takes Process and Perspective Given the continued bloodbath we are seeing in stocks, this commentary serves as follow up to the Special Report we released just over a week ago, on February 29. In...

February 19th, 2020 Chadd Mason, CEO The Cabana Group Dow Plunges as Coronavirus Spreads to South Korea, Iran and Italy As soon as we mentioned the first sign that the coronavirus was impacting earnings (Apple lowered forward guidance), the virus broke out of general...

February 19th, 2020 Chadd Mason, CEO The Cabana Group Apple Reports Coronavirus Threat to Tech Earnings have continued to drive equity prices higher throughout the first half of February. This has occurred in the face of a variety of external threats, including...

February 10th, 2020 Chadd Mason, CEO The Cabana Group Q4 Earnings Continue to Beat Expectations and Provide Investors with Hope U.S. corporate earnings continue to roll in beating expectations on both the revenue and sales side. The S&P 500 earnings growth rate...

February 4th, 2020 Chadd Mason, CEO The Cabana Group The Emotional Stock Market vs. the Wise Old Bond Market Last week, we discussed the coronavirus outbreak and implications it might have on markets going forward. I provided some statistics related to previous...

January 27, 2020 Chadd Mason, CEO The Cabana Group Markets React to the Coronavirus Fears Just as quickly as the drumbeats of war with Iran quieted, we became overwhelmed with news of a rapidly spreading potential pandemic coronavirus. The virus started in China and...

January 21, 2020 Chadd Mason, CEO The Cabana Group The Temperature is "Just Right" In recognition of the Martin Luther King Jr. holiday, this commentary is as of Tuesday, Jan. 21.  U.S. equity markets closed last week at new all-time highs. Foreign markets appear to...

January 13, 2020 Chadd Mason, CEO The Cabana Group News-Driven Market Predictions Can Be a Recipe for Disaster What a week! In just about seven days, we (the U.S.) and the world have stepped back from the brink of war with Iran, Iran has shot down a civilian aircraft...

January 06, 2020 Chadd Mason, CEO The Cabana Group Trusting the Markets Among Rising Middle East Tension I hope everyone had a happy and heathy holiday! The older I get, the more I realize that we don’t get do overs in life. Let’s all strive to make 2020 the best year...

December 23rd, 2019 Chadd Mason, CEO The Cabana Group 2019: A Great Year for Investors of all Types On behalf of everyone at Cabana, I would like to thank our clients and investor partners for your continued belief in us. Without you we could not do any of the things...

December 16th, 2019 Chadd Mason, CEO The Cabana Group Investors Welcome a U.S.-China Trade Deal With Open Arms Equity markets around the world continued to grind higher last week and moved up again today. The much-anticipated trade resolution with China came through...

November 11, 2019 Chadd Mason, CEO The Cabana Group Money Rotation Continues to be Bullish This past week we saw major U.S. indices tread water at their all-time highs. Underneath the hood, money is rotating from low beta assets such as bonds, real estate, utilities...

The Fourth Quarter Rally We've Been Hoping For The S&P 500 and Nasdaq both closed last week at all-time highs. Several weeks ago, we noted improving conditions, which resulted in our reallocation to add risk assets back on during the week of Oct. 21. Other market...

Week Two of Economic Improvement Last week, we noted overall improvement in underlying economic conditions. That trend has continued. Earnings here in the U.S. have been better than expected, with a number of upside sales surprises. This data suggests that the ongoing...

October 21st, 2019 Improvements at Home and Abroad Relatively strong earnings reports over the past week in the U.S. helped push our major stock indexes back within reach of their all-time highs. Banks and other financial firms brought in stellar reports. This has...

October 14th, 2019 Does the News Really Matter? Equity markets set politics aside last week and focused on renewed hope of a trade deal between the U.S. and China. Initial reports were that the two countries had agreed to a “phase one” (of several) compromise. It was...

October 7, 2019 Chadd Mason The Jury is Still Out Last week saw more of the same volatility that has plagued equity markets since April. Over the past six months there have been no less than five trends encompassing moves up/down in stock prices greater than 5%. These...

September 30th 2019 Eyes Wide Open and the Glass Half Full The past week saw continued selling in U.S. equity markets. The S&P 500 ended slightly more than 2% below alltime highs. Given all the recent impeachment noise, mixed messages regarding our trade with...