This week’s Friday Update includes our comments on earnings from Wells Fargo & Company (WFC). We had no price target or ratings changes this week, although we are reviewing Wells Fargo shares as they trade above our price target.
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Well, 2021 is in the books, which we’re happy is the case, as it was far from a fruitful growth stock year—effectively payback for the amazing 2020 environment.
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So far, 2022 is playing out as expected. But of course, this is only the eighth trading day of the year.
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The U.S. stock market rebounded on Tuesday, following testimony from Chair Powell at his Senate confirmation hearing. Investors liked what he said, implying that the three anticipated quarter-point rate increases, which could start in March, would likely be enough to quell inflation (along a..
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In two days, the S&P 500 has set two new all-time highs. Last year’s momentum is spilling over so far. But will it last?
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We have most growth-oriented indexes and funds still stuck in intermediate-term downtrends, many former leaders that look awful and very few individual growth stocks really set up for a sustained run.
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It’s the end of remarkable year. With just two more full market days left, the S&P 500 is up 28% for 2021.
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It has been an amazing year in the market. The vaccines enabled the end of most lockdowns and restrictions and unleashed a booming economy. GDP grew 6.4% in the first quarter, 6.7% in the second and 2.1% in the third. The S&P 500 up...
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According to market lore, an off-handed comment in a brief conversation between two Wall Street participants about a century ago dispensed perhaps the most valuable investing advice ever uttered. When asked what he thought stocks would do, the veteran John R. is said have...
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After the huge market and growth stock selloff into early December, stocks flashed a relatively rare show of buying power—yes, the indexes popped higher, but even better was the under-the-surface action.
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Private equity, the polished-up name for venture capital and leveraged buyout funds, is white-hot. If every market cycle has its own Masters of the Universe (the 1990s had tech mutual funds, the 2000s had hedge funds), the past decade’s MOTU was clearly private equity.
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All eyes are on the Fed. Sure, there’s inflation and Omicron and some other stuff. But Wall Street types mostly care about the Fed.
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Everything was going so well. And then things turned sour on a dime. The party pooper virus is up to its old tricks again.
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Our comments this week are mostly questions. Day-to-day gyrations make sense on the surface. Yesterday, the market surged on news of China easing its monetary policy combined with a growing sense of relief that the Omicron variant is milder than previously understood. But the...
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As Edward Johnson (the founder of Fidelity Investments) once said in a speech, the market’s music is always changing: Just when you’re used to one thing, the beat shifts.
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Everything was going so well. And then things turned sour on a dime. The party pooper virus is up to its old tricks again.
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Today we are moving General Motors (GM) from Buy to Sell. General Motors has made a remarkable transition from bankruptcy in 2009 to a highly-profitable and innovative contender in the rapidly changing global auto industry, driven by CEO Mary Barra. However, with the at...
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The market is beginning to more fully anticipate a post-Covid environment and economy. As such, investors are looking to slower/normalized/sustainable growth following the bulge from the pandemic stimulus programs and pent-up demand, higher interest rates, and a relenting of supply chain issues.
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The economy is booming, and earnings are terrific because the slack from the pandemic is being picked up. Business is making up for lost time. But once that slack is gone, economic and earnings growth will return to normal, whatever that is these ...
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It’s still a bull market, but there’s no doubt we’re seeing some hesitation following the three-week moonshot off the early-October lows.
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