Category Archives: Markets

Market Recap

Posted on March 20, 2020 by Gemmer Asset

  Where to Begin?   Most importantly, all of us at Gemmer hope you and your family are healthy and doing as well as can be expected. Everyone here is working hard during this ‘shelter in place’ period and our backup plan to work remotely is functioning better than we could have expected. We were fully operational day 1!   Secondly, you may see trade confirms coming through in the coming days. We are not…
Continue reading >>

Categories:

Bookmark and Share

Market Recap

Posted on March 6, 2020 by Gemmer Asset

  V, U, or L scenario?   What a crazy week. What can you say about a week that saw the following daily S&P 500 returns: Monday +4.6%, Tuesday -2.8%, Wednesday +4.2%, Thursday -3.4%, and Friday -1.7%? And after all this the S&P finished up +0.6% for the week. Who’d of thought?   Normally we’d get into today’s strong payrolls report and how the economy had built up a decent head of steam in the…
Continue reading >>

Categories:

Bookmark and Share

Markets Grapple With The Coronavirus

Posted on February 28, 2020 by Gemmer Asset

Markets Grapple with the Coronavirus   There’s an old saying that markets take the escalator up and the elevator down. That sure was the case this week. Selling pressure was intense all week as investors grappled with the implications of the coronavirus spreading beyond China’s boarders. The S&P officially hit correction territory with a decline of more than 10% from the high. As you can see below, this is the eighth correction of more than…
Continue reading >>

Categories:

Bookmark and Share

Market Recap

Posted on February 21, 2020 by Gemmer Asset

    Gauging the Economic Fallout   Up until Thursday the markets remained pretty buoyant in expectation that the Coronavirus infection rate had peaked. This seemed to change on Thursday and Friday as attention turned away from infections towards the economic fallout.   The change of tone could be detected after Japan reported a miserable fourth quarter GDP number. Growth in the fourth quarter fell at an annual rate of -6.3% (chart below) after Japanese…
Continue reading >>

Categories:

Bookmark and Share

Market Recap

Posted on February 14, 2020 by Gemmer Asset

  Infection Rates Seem to be Slowing   As you would expect the coronavirus situation was the headline story all week. The situation continues to evolve, but it is pretty clear that simply counting the number of infections is far from simple. Is China fully disclosing the number infected? If infection rates have plateaued, why are roughly 400mm people in China under some form or quarantine? Investors were also thrown off balance on Thursday when…
Continue reading >>

Categories:

Bookmark and Share

Market Recap

Posted on January 31, 2020 by Gemmer Asset

  Economic Backdrop   Before we get to the Coronavirus discussion, a few macro notes.   Earnings   We are still in 4th quarter earnings season. Key observations:   – 38% of S&P 500 companies have reported Q4 earnings   – 73% beat EPS estimates, surprising positively by 4%   – EPS growth is coming in at +6% y/y. All sectors except Energy and Materials are delivering positive earnings growth   – Sales growth is…
Continue reading >>

Categories:

Bookmark and Share

Market Recap

Posted on January 17, 2020 by Gemmer Asset

  Housing Fundamentals Improve   There were a few economic reports this week, but the main one concerned home construction, which hit the highest level in 13 years. New housing starts jumped in December to a seasonally adjusted rate of 1.608m, the highest level since December 2006. That was an increase from November’s upwardly-revised 1.375m and cruised past the median forecast among economists for 1.375m.     As you can see above, the hook high…
Continue reading >>

Categories:

Bookmark and Share

Market Recap

Posted on January 10, 2020 by Gemmer Asset

  Welcome to 2020!! Another decade down and on to the next one. What can you say about 2019 other than ‘that went better than expected.’ It almost doesn’t matter where you invested last year, you saw decent returns. About the only exception in the U.S. were oil and gas stocks. Just look at the oil services ETF (orange line below). It managed to lose -5.6% despite a +34.5% rise in crude prices. That takes…
Continue reading >>

Categories:

Bookmark and Share

Market Recap

Posted on November 15, 2019 by Gemmer Asset

  Economic Recap – Faint Hints of a Trough   The large-cap domestic equity indexes continued to push to new highs this week. It’s always hard to peg why the markets do what they do short-term, but these three reasons have to rank reasonably high on any list:   – Optimism that a trade deal of some sort gets done before year-end.   – Chairman Powell talked again this week and basically said there are…
Continue reading >>

Categories:

Bookmark and Share

Market Recap

Posted on November 1, 2019 by Gemmer Asset

  Economic Recap – Faint Hints of a Trough   A number of key economic reports this week:   Decent Growth in Q3   The advance estimate for Q3 GDP came in at 1.9%, a modest dip from 2.0% in Q2, but well ahead of expectations of 1.6%.     Manufacturing Recession Continues   The ISM manufacturing index increased for the first time since March but remains in contraction mode. To early to call a…
Continue reading >>

Categories:

Bookmark and Share
« First ‹ Previous 1 2 3 4 5 6 7 8 9 Next › Last »