KEY TAKEAWAYS Earnings growth for the fourth quarter is tracking to a solid 17%, above prior estimates but below the pace of the previous three quarters. The bar has been substantially lowered for the first quarter, setting up potential upside surprises, particularly...
ECONOMY SOLID ECONOMY, BUT RISING UNCERTAINTY IN JANUARY REPORTS January’s reports painted a picture of a solid economy struggling with global uncertainty. The Conference Board’s Leading Economic Index (LEI), an aggregate of ten leading indicators, declined 0.1% in...
KEY TAKEAWAYS Stocks posted their best January in more than 30 years after a historically bad December. Stocks’ bounce was the easy part; the next 10% will likely be much harder. There are technical signs that suggest December marked a major low and potentially higher...
KEY TAKEAWAYS We expect the Fed to pause interest rate hikes this week. While the market environment has been challenging, we think recent weakness increases the chances of a positive market response post-tightening cycle. Whether the Fed’s rate hike campaign is...
KEY TAKEAWAYS Following last week’s rejection of Theresa May’s Brexit plan, we discuss what’s next for the United Kingdom and possible market implications. We maintain a cautious tactical view on European equities, given lackluster economic growth, increased political...
