After the best first quarter for the S&P 500 Index since 1998, the big question is: What happens next? We’ve already discussed why a good start to a year could lead to more gains (here and here), but today we will take a look at another potentially positive signal.
March’s yield curve commotion now looks like the first “false positive” of this expansion. Continue reading
Seven has been a lucky number for U.S. stocks. The S&P 500 Index just notched its first seven-day winning streak since October 2017. As shown in the LPL Chart of the Day, this feat has occurred just seven other times in the current bull market.
Second Quarter Kicks Off With Flowers, Not Showers.
US: S&P 500 Index +2.1%, Dow +1.9%, Nasdaq +2.7%
Europe: STOXX Europe 600 +2.4%, German DAX +4.2% France CAC 40 +2.4%, U.K. FTSE 100 +1.7%
Asia: Japan Nikkei +2.8%, China Shanghai Composite +5.0% Korea KOSPI +3.2%
Rates/Commodities: 10-Year Treasury yield +9 basis points to 2.49%, WTI crude oil +3.2%, COMEX gold: -0.0%
Global equities got off to a strong start in the second quarter, so far continuing the seasonal trend we’ve seen in April in recent years. Renewed U.S.-China trade optimism, (relatively) upbeat economic data, and some easing of the yield curve inversion provided support. Continue reading
Job growth rebounded strongly in March, allaying concerns that a February slowdown was signaling the possibility of extended economic weakness.
Wall Street is watching a litany of telling economic and market signals, but the rest of the country is watching the NCAA men’s and women’s college basketball tournaments.