May 4, 2021—Equity markets have come a long way since suffering a 33% bear market decline at the onset of the COVID-19 pandemic in March 2020. Over the 13 months that followed, the S&P 500 not only reclaimed its pre-pandemic peak in August but went on to print over 40 record highs, with 9 of them occurring in April alone.
February 5, 2021—Recent headlines have fixated on a ballooning mass of retail investors contributing to turbulent swings in select corners of the equity market. Most recently these have been in shares of Gamestop, AMC and others, which saw euphoric, triple-digit gains over a matter of days before eventually crashing down to earth.
December 15, 2020—Technology companies were the undisputed darlings of the equity market in 2020, benefiting from a structural acceleration of technological adoption that resulted in strong organic growth in a weak economic environment.
August 19, 2020—After a historically volatile first half, the S&P 500 is back in positive territory, up roughly 5% for the year, but gains have been far from equally distributed. The top five companies by market cap, or FAAMG (Facebook, Amazon, Apple, Microsoft, and Google), are up 48%,1 while the bottom 495 have yet to break even.
May 22, 2020—Just one month has passed since West Texas Intermediate (WTI) crude oil, the U.S. benchmark, moved into uncharted territory and closed the day at a shocking -$37.63/barrel, indicating that owners of a “front month” contract (for delivery of oil in the following month) would have to pay a premium to offload it (as opposed to receiving proceeds from the sale, as is customary).