A tumultuous stretch as the markets eagerly look towards an initial rate cut… In early August, the broader stock market collapsed almost 7% in a matter of days on the back of July’s weak jobs report and the unwinding of the yen “carry trade.” Non-farm payrolls came in sharply beneath expectations at 114k as opposed...Read More

Will it soon be time to take action?   Today is Fed Day, the day that the Federal Open Market Committee (FOMC) releases its update on its interest rate outlook. Earlier this afternoon, officials moved closer to lowering interest rates from their two-decade high by signaling the likelihood of a September rate cut.  The US...Read More

No recent love for the Magnificent Seven…   Following the horrific assassination attempt on a former President, polling data is now strongly predicting a second Trump Administration. Meanwhile, President Biden is facing continued pressure to step down from the Democratic ticket for the upcoming election. Markets have been digesting the forecast of another Trump presidency...Read More

Still waiting for the Fed as the presidential election heats up… On Tuesday, Fed Chair Jerome Powell released statements that sounded more dovish than other recent comments. Powell stated that the Federal Reserve has seen “a lot of progress” in relation to inflation, but that policymakers need more data before cutting interest rates to verify...Read More

Still trying to figure out inflation……….and the Fed   Based on the CME Fedwatch tool, bond traders are no longer predicting that the Fed will cut interest rates by more than 75 basis points this year – their view finally now moving in line with what has been the central bank’s projected likeliest outcome for months....Read More

Cautionary inflation and consumer readings spread concerns… Following the long weekend, investors returned today staring down earnings from the nation’s biggest retailers and an update on the Federal Reserve’s rate path perspective. Additionally, market star Nvidia (NVDA) shares its latest results on Wednesday afternoon. Last week, however, did close on a down note – ending a...Read More

  Following the Fed’s most recent meeting, the equity markets have continued to rally despite additional commentary from the central bankers emphasizing that rate cuts are very unlikely to start in March. Over the weekend, Chair Powell, in an interview on the TV show 60 Minutes, said that he is “pleased inflation is coming down...Read More

After drifting up the last few days of 2023, Wall Street starts the New Year a bit nervous with broad declines in many securities, especially in those sectors which have recently outperformed. One Schwab analyst suggested that the recent declines broadly reflected a combination of profit-taking and investor rotation into last year’s underperforming sectors, specifically...Read More

Markets take a victory lap after dovish Fed outlook… US stocks surged over the past week in the wake of a December Fed meeting that projected a surprisingly dovish tone with markets concluding the fight against inflation is largely over. While Chair Powell and other officials had repeatedly and steadfastly pointed to the dangers of...Read More

Dumaine Investments Weekly Market Update – November 1, 2023 – After a brief rally at the start of October, US stocks traded lower over the second half of the month as elevated interest rates, mixed earnings, and heightened tensions in the Middle East took a toll on markets. The S&P 500 posted its worst October...Read More