All That Glitters is Gold

Among various assets, one unexpected outperformer has been gold. Since the start of the year, the shiny metal has increased by over 50%, easily surpassing the major stock market indexes. The Dollar Index (DXY) is an index (or measure) of the value of the US dollar...

A Three-Year Anniversary

On October 12, 2022, the S&P 500 Index hit a cyclical low. In hindsight, that marked the end of the 2022 bear market. Fast forward three years, and the current bull market has now been running for three years. Let’s compare the current run to the six longest bull...
Government Shutdowns: Why Investors Rarely Care

Government Shutdowns: Why Investors Rarely Care

Historically, US government shutdowns have had minimal impact on the stock market. Let’s review the graphic below. Since 1976, government shutdowns of varying lengths have had little effect on stocks, as measured by the S&P 500 Index. The government closure began...
The Fed Delivers a Long-Awaited Rate Cut

The Fed Delivers a Long-Awaited Rate Cut

To virtually no one’s surprise, the Federal Reserve slashed the target on its key interest rate—the fed funds rate—at the conclusion of its meeting on Wednesday. The only question regarding the decision was whether the Fed would cut by a quarter point (25 basis points...