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“In the history of every great catastrophe, you will find that some masterly bit of stupidity sets fire to the oil-soaked rags.” – Edwin Lefèvre

Below is a snippet of content from today’s Morning Lineup for Bespoke Premium members.  Start a two-week trial to Bespoke Premium now to access the full report.

It’s Friday, so yes, US equity futures are down.  As shown below, the S&P 500 has already seen 15 weeks end with a 1%+ down day in 2022, which is tied for the record seen back in 1974 and 2008.  A 1%+ down day today would make it a record 16, and there are still 10 weeks left in the year!  Keep in mind that we’ve also seen four straight weeks end with a 1% down day coming into this week, which would extend to five if the S&P indeed falls 1%+ again today.

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