A healthy labor market, which often includes significant immigrant participation, is crucial for a flourishing economy characterized by steady and sustainable growth with relatively low inflation. The central bank’s (the Fed’s) dual mandate, to achieve maximum employment and price stability, is in s...
An Upswing in Q42023 Earnings The Q423 earnings season has surpassed expectations, providing another catalyst to the equity markets. S&P 500 earnings growth was nearly 8%, a significant improvement over the expectations of 1.2%. Of the 97% of S&P 500 companies that have reported, 76% have had positi...
The Year of the Rabbit In 2023, the Gregorian calendar was designated the year of the rabbit—a symbol of good fortune and rebirth. Perhaps, then, it’s no surprise 2023’s markets closed in a similarly spirited fashion. Fourth quarter returns leaped happily to a banner finish, dodging a handful of obs...
I. Fourth Quarter 2023: Keeping up with the Russells Ok, let’s get this out of the way right away – we did not keep up. SMCO did end the year on a strong note, generating a +10.5% gross/+10.3% net return in the fourth quarter, but Mr. Market embraced the softening inflation and positive economic dat...
As we bid farewell to 2023, we reflect on a year that presented an array of challenges and unexpected turns for the U.S. economy and financial markets. The past 12 months unfolded as a tumultuous journey, marked by a convergence of complex factors that tested the resilience of economic foundations.
In today's rapidly evolving economic landscape, understanding financial conditions is essential for investors, policymakers, businesses, and others focused on the health of the economy. Financial conditions refer to a complex mix of financial factors (expressed in indices) that collectively paint a ...
The debate over whether the economy will eventually experience a “hard” or “soft” landing continues to dominate market attention. The extended supply chain dislocations, crippling inflation, and 16 months of Fed (Federal Open Market Committee) policy tightening have all contributed to an atmosphere ...
Explore Active ETFs: Learn what differentiates them from other ETFs and why they're becoming increasingly attractive to today's investors.
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