Our Insights

December 6, 2019

After a rough start to the week, a strong finish led to a slight gain in the S&P 500, near the recent high which came just last week. Economic reports continue to show weakness in the industrial/manufacturing part of the economy, but consumer sentiment remains strong, as does employment overall. In today’s monthly jobs report, the unemployment rate fell back to a 50-year low of 3.5%. Next Wednesday, the Federal Reserve will give a policy update but no change in interest rates is expected. The Fed Funds rate is currently 1.55%, within the official target range of 1.50-1.75%. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

December 6, 2019

After a rough start to the week, a strong finish led to a slight gain in the S&P 500, near the recent high which came just last week. Economic reports continue to show weakness in the industrial/manufacturing part of the economy, but consumer sentiment remains strong, as does employment overall. In today’s monthly jobs report, the unemployment rate fell back to a 50-year low of 3.5%. Next Wednesday, the Federal Reserve will give a policy update but no change in interest rates is expected. The Fed Funds rate is currently 1.55%, within the official target range of 1.50-1.75%. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

November 22, 2019

This week the S&P 500 started off by making another new high, but the market declined slightly overall. Next week should be fairly quiet as well, with the markets closed on Thursday for Thanksgiving and open only until 1pm on Friday. Our next Market Recap will be posted the following week on December 6. We thank you for your continued trust and support, and we hope you have a great Thanksgiving. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

November 15, 2019

This week the S&P 500 hit another new high, as sentiment continues to be positive towards a U.S.-China trade deal, and as potential recession indicators have improved over the past several weeks. More than 90% of the companies in the S&P 500 have reported quarterly earnings, with sales and earnings each coming in better than expected. Interest rates remained range-bound near historically low levels and volatility has subsided for the time being. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

November 15, 2019

This week the S&P 500 hit another new high, as sentiment continues to be positive towards a U.S.-China trade deal, and as potential recession indicators have improved over the past several weeks. More than 90% of the companies in the S&P 500 have reported quarterly earnings, with sales and earnings each coming in better than expected. Interest rates remained range-bound near historically low levels and volatility has subsided for the time being. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

November 8, 2019

This week the S&P 500 hit another new high as “risk on” sectors such as Technology, Industrials, Materials, and Energy led, while “risk off” sectors such as Real Estate and Utilities declined. Most of the week’s gains came on Monday, due to more favorable comments around U.S.-China trade. On Friday, the latest read on consumer sentiment remained solid. Banks and bond markets are closed Monday in observance of Veterans Day, but the stock market will remain open. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

November 8, 2019

This week the S&P 500 hit another new high as “risk on” sectors such as Technology, Industrials, Materials, and Energy led, while “risk off” sectors such as Real Estate and Utilities declined. Most of the week’s gains came on Monday, due to more favorable comments around U.S.-China trade. On Friday, the latest read on consumer sentiment remained solid. Banks and bond markets are closed Monday in observance of Veterans Day, but the stock market will remain open. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

November 1, 2019

This week the S&P 500 gained over 1% and hit new highs. As expected, the Federal Reserve cut very short term interest rates by 0.25%, while longer-term rates in the Treasury market declined a little as well. This was the third interest rate cut by the Fed this year, and based on more balanced language in the announcement, should be the last cut for the year. Today’s monthly jobs report showed more jobs being added than expected, and the prior month’s number was revised higher as well, even though the unemployment rate ticked up to 3.6% from 3.5%. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

November 1, 2019

This week the S&P 500 gained over 1% and hit new highs. As expected, the Federal Reserve cut very short term interest rates by 0.25%, while longer-term rates in the Treasury market declined a little as well. This was the third interest rate cut by the Fed this year, and based on more balanced language in the announcement, should be the last cut for the year. Today’s monthly jobs report showed more jobs being added than expected, and the prior month’s number was revised higher as well, even though the unemployment rate ticked up to 3.6% from 3.5%. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

October 25, 2019

This week the S&P 500 came within a hair of a new intraday high, but the index did make a new high on a total return basis (including dividends). The S&P 500 Value Index (which includes Apple) made new highs, while the S&P 500 Growth Index did not gain as much and remained below its July peak. Next week will be heavy with earnings as about one-third of S&P 500 companies report; including Apple, Facebook, and Google. So far, third quarter earnings have not been as bad as feared, and sentiment seems to be improving around U.S.-China trade talks. Also on tap for Wednesday is likely another quarter-point interest rate cut from the Federal Reserve. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

October 25, 2019

This week the S&P 500 came within a hair of a new intraday high, but the index did make a new high on a total return basis (including dividends). The S&P 500 Value Index (which includes Apple) made new highs, while the S&P 500 Growth Index did not gain as much and remained below its July peak. Next week will be heavy with earnings as about one-third of S&P 500 companies report; including Apple, Facebook, and Google. So far, third quarter earnings have not been as bad as feared, and sentiment seems to be improving around U.S.-China trade talks. Also on tap for Wednesday is likely another quarter-point interest rate cut from the Federal Reserve. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

October 18, 2019

This week, several Financial and Healthcare companies kicked off earnings season, and these two sectors outperformed the S&P 500 in an up week. The U.S. dollar weakened, which helped international stock performance. Today’s monthly Leading Economic Index® (LEI) reading was lower month-over-month due to weakness in manufacturing, but importantly, the index was still higher year-over-year. Interest rates declined slightly this week, and the futures market is still expecting another quarter-point interest rate cut from the Federal Reserve on October 30. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

October 18, 2019

This week, several Financial and Healthcare companies kicked off earnings season, and these two sectors outperformed the S&P 500 in an up week. The U.S. dollar weakened, which helped international stock performance. Today’s monthly Leading Economic Index® (LEI) reading was lower month-over-month due to weakness in manufacturing, but importantly, the index was still higher year-over-year. Interest rates declined slightly this week, and the futures market is still expecting another quarter-point interest rate cut from the Federal Reserve on October 30. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

October 11, 2019

After starting on a weak note due to concerns about U.S-China trade, this week the S&P 500 gained over 1% due to U.S.-China trade deal optimism, as it seems a partial deal is in the works. Several international stock indices gained even more, benefiting from both China and Brexit optimism. While banks, government offices, and the bond markets will be closed for a holiday on Monday, the stock market will remain open. On Tuesday morning and throughout the week, several financial and healthcare companies will kick off Q3 earnings season. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

October 11, 2019

After starting on a weak note due to concerns about U.S-China trade, this week the S&P 500 gained over 1% due to U.S.-China trade deal optimism, as it seems a partial deal is in the works. Several international stock indices gained even more, benefiting from both China and Brexit optimism. While banks, government offices, and the bond markets will be closed for a holiday on Monday, the stock market will remain open. On Tuesday morning and throughout the week, several financial and healthcare companies will kick off Q3 earnings season. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

October 4, 2019

Stock prices and interest rates moved lower this week on economic data that showed contraction in manufacturing and a slowing of growth in the services sector of the economy (services makes up about 80% of GDP). Today, the monthly jobs report came in just shy of expectations with 136,000 jobs being added in September, but the July and August reports were revised higher. The unemployment rate fell to a 40-year low of 3.5%. The 10-year Treasury yield fell to nearly 1.5%, and the odds of another rate cut from the Federal Reserve at the end of October shot up to 77% in the futures market. Fed Chairman Powell speaks this afternoon as well as on Monday, Tuesday, and Wednesday next week. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

October 4, 2019

Stock prices and interest rates moved lower this week on economic data that showed contraction in manufacturing and a slowing of growth in the services sector of the economy (services makes up about 80% of GDP). Today, the monthly jobs report came in just shy of expectations with 136,000 jobs being added in September, but the July and August reports were revised higher. The unemployment rate fell to a 40-year low of 3.5%. The 10-year Treasury yield fell to nearly 1.5%, and the odds of another rate cut from the Federal Reserve at the end of October shot up to 77% in the futures market. Fed Chairman Powell speaks this afternoon as well as on Monday, Tuesday, and Wednesday next week. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

September 27, 2019

This week the final read on Q2 GDP (Gross Domestic Product) came in as expected, showing 2.0% economic growth. Stocks sold off a bit on Tuesday when reports surfaced that Democratic members of Congress would formally announce an impeachment inquiry of the President, but the market recovered most of those losses Wednesday. However, just before noon on Friday, stocks declined again on news that President Trump is considering limiting investments in China, including possibly delisting Chinese companies from U.S. stock exchanges and by reducing U.S. government pension exposure to Chinese investments. The S&P 500 declined about 1.5% this week. Next week we will get monthly reads on manufacturing, services and job growth. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures

September 27, 2019

This week the final read on Q2 GDP (Gross Domestic Product) came in as expected, showing 2.0% economic growth. Stocks sold off a bit on Tuesday when reports surfaced that Democratic members of Congress would formally announce an impeachment inquiry of the President, but the market recovered most of those losses Wednesday. However, just before noon on Friday, stocks declined again on news that President Trump is considering limiting investments in China, including possibly delisting Chinese companies from U.S. stock exchanges and by reducing U.S. government pension exposure to Chinese investments. The S&P 500 declined about 1.5% this week. Next week we will get monthly reads on manufacturing, services and job growth. For more information on the markets or your portfolio, we encourage you to contact your Buckingham advisor.

Ryan P. Johnson, CFA, CFP®
Director of Equity Research

Commentary Disclosures