With the new U.S. presidential administration comes a range of distinct methods of governing. Among that list is a seemingly blunt-force approach to trade management that over the past few days has resulted in more than a few market gyrations. We could discuss the specifics, but as soon as we might, they’re likely to change. […]
At today’s close, shares in U.S. chipmaker Nvidia Corp (NVDA) are off just under 17% after Chinese generative artificial intelligence (genAI) startup DeepSeek released an update to its large language model (or LLM, in shorthand the technology that provides the underpinnings of genAI capabilities). The update purports to radically reduce the cost of building and […]
Stocks roared higher in 2024, with growth stocks in the U.S. finding particular strength as the year wore on. Meantime, international equities generally suffered from weaker local returns and a stronger U.S. dollar. Investors betting on a broadly lower (and flatter) yield curve during the fourth quarter saw the opposite as longer-term yields rose, even […]
Our experience during the various boom-bust cycles of this millennium suggests themes built upon the sandy ground of indefensible valuations eventually erode. Relative gains may come, then, from having more heavily emphasized those stocks with sounder footings. Here again, the current environment presents value-minded U.S. equity market investors with a conundrum: Compared to…? It’s become […]
Over the next few weeks, attention almost assuredly will remain focused on the potential ramifications of the incoming Trump presidency. With policy specifics still light, we’ll offer what we find a more immediately relevant review of U.S. stocks: their present collective valuation. By most any measure, U.S. stocks are more expensive than they have been […]
Stocks here and abroad soared over the past year. Meantime, U.S. interest rates wavered but ultimately ended lower over the past twelve months, boosting fixed income gains. Aided by a strong decline in the U.S. Dollar over the quarter versus major world currencies, international developed stock markets outperformed U.S. stocks, while fresh stimulus in China […]
