Jun 19, 2020
This week’s Bespoke Report newsletter is now available for members. Below is the opening excerpt.
The areas of the country where Covid case counts are currently rising the most are in Florida, Texas, Arizona, and California. So much for the heat keeping the virus at bay! On a day when Governor Cuomo thankfully ended his daily coronavirus press briefings, the stock market is once again focused on the daily case count numbers in other parts of the country. At least for most of the week, the market managed to shake off increased attention on case numbers. The S&P 500 was up 1.9% this week while the Nasdaq 100 rose 3.5%. Health Care, Materials, Tech, Consumer Staples, and Communication Services all rose more than 2%, while Energy was down 0.6% even though the oil ETF was up 6.8%. Outside of the US, China and India were up the most while Brazil, Spain, and Russia were in the red.
To read the full report and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels. You won’t be disappointed!
Jun 12, 2020
This week’s Bespoke Report newsletter is now available for members.
US equities stumbled into the end of the week after a brutal day Thursday. Narratives abound, but given how overbought global equities had gotten, we are skeptical to push explanation beyond that. What we’re less skeptical about is the ongoing disease burden of COVID-19, the accomodative stance of monetary policy, and the slow improvement of the US economy over the last few weeks. We discuss all of this as well as updating the outlook for the election in this week’s Bespoke Report.
To read the report and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels. You won’t be disappointed!
Jun 5, 2020
This week’s Bespoke Report newsletter is now available for members.
In a world where talk is increasingly cheap while real action is an endangered species, the equity market has put its money where its mouth is, surging 40%+ in the last 50 trading days capped off with a massive rally this week. This week’s 5% gain marked the third straight week that the S&P 500 was up over 3%. The last time that happened? September 1982. And before that you have to go back to 1940 and then a few other occurrences in the 1930s.
Between the low on March 23rd through Wednesday (6/3) the S&P 500 rallied more than 39%. That’s the strongest 50-day move for the index since 1952 when the US stock market went to the five-day trading week. (Prior to 1952, the NYSE was open on weekends as well, and our historical daily data pre-1952 for the major indices lumps the weekend’s move into Monday’s change. Thus, the 50-trading day rate of change prior to 1952 is not necessarily an apples to apples comparison with the same data post 1952.)
This week’s Bespoke Report covers all this week’s market events and the rally off the March lows to see how they may impact performance going forward. To read the report and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels. You won’t be disappointed!
May 29, 2020
This content is for members only
May 22, 2020
This week’s Bespoke Report newsletter is now available for members.
Futures were already set for a positive start to the week on Monday morning after Fed Chair Jerome Powell told Scott Pelley in a 60 Minutes interview that, “There’s really no limit to what we can do.” But then shortly before the open, vaccine maker Moderna (MRNA) released some positive but limited data related to its COVID vaccine. That put the rally into overdrive. With those early gains, it seemed like it was going to be a good week for equities (which it was), but from that initial surge in the first 20 minutes of trading on Monday until Friday afternoon, there was a lot of flopping around in between. The week was so sideways, in fact, that a half-hour before the close on Friday, the S&P 500 was right at the same levels it was at 20 minutes after the open on Monday! In the last half hour of trading, though, a baby rally took the market out at its highs for the day.
In this week’s Bespoke Report we review some of the conflicting economic data this week and also look at what’s ahead for the market after the major rally off the March lows.
In this week’s Bespoke Report we review some of the conflicting economic data this week and also look at what’s ahead for the market after the major rally off the March lows. To read this week’s report and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels. You won’t be disappointed!
May 15, 2020
This week’s Bespoke Report newsletter is now available for members.
In this week’s Bespoke Report we review improving short-term data and the limits of that improvement. We discuss the lagging economic data and some of the leading price action from markets in the US and around the world, as well as reviewing the latest data on COVID-19 in the United States, the latest earnings numbers, and economic data from around the world. To read these two reports and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels. You won’t be disappointed!
In this week’s Bespoke Report we review improving short-term data and the limits of that improvement. We discuss the lagging economic data and some of the leading price action from markets in the US and around the world, as well as reviewing the latest data on COVID-19 in the United States, the latest earnings numbers, and economic data from around the world.
The Bespoke Report — 5/15/20
