Commentary

Haywire Labor Data Points in Every Direction

JOLTS (job opening data) had a massive surprise, three standard deviations below consensus estimates, the driving job openings to unemployed workers ratio back to pre-pandemic levels.

Commentary

What a Title Fight Would Look Like Between AI Leaders & Economic Data

The highlight of last week was a showdown between two of the major forces in the markets: AI earnings vs. economic data.

Commentary

Downshift in Inflation Pressures and Strong Earnings Breed Optimism

Last week was another week of records for major equity indices: The S&P500 broke to new highs; the DJIA breached 40,000.

Commentary

New Themes Emerge in 2024

Thursday marked the final trading day of the week, month and quarter. It seemed only fitting the two major data releases delivered the overarching message of 2024.

Commentary

Black Friday Expectations & AI Hype

The likes of consumer resiliency based on the earliest readings on Black Friday sales and the degree to which the Artificial Intelligence theme continues support the idiosyncratic tendencies of the markets concentrated in the Magnificent 7.

Commentary

Lining Up The Doves

The doves lined up last week guiding the S&P500 up 5.85%, marking the best week of performance for the year. A busy week of data began with the quarterly refunding announcement from the Treasury.

Commentary

Macro Thoughts

Last week was Super Bowl week for economists, with fresh guidance from the Fed, ECB, BoJ, as well as data releases on GDP and inflation. The economic data fireworks show was set against a busy week of earnings data, which acted as garnishes to the main course of economic data.

Commentary

Is a Recession Inevitable?

Economic reports and corporate data last week highlighted the cautious stance of corporations, contrasted against a resilient consumer, who continues to be propped up by strong demand in the labor market and increasing wages.