Articles by Michael Halloran

  • Thoughts on Battle Between Inflation and the Federal Reserve

    Stocks are reacting negatively to the 0.75% interest rate increase after the Federal Reserve (Fed) meeting on Wednesday, which included projections for interest rates to be higher for longer than many market participants expected. We have the following thoughts as this battle between the Federal Reserve and inflation continues.

  • Inflation Remains the Major Market Concern

    Stocks reacted negatively to the latest inflation reading from the Consumer Price Index (CPI), which suggests that the Federal Reserve (Fed) will remain on its aggressive path of interest rate hikes for the foreseeable future.

  • Thoughts on Current Stock Market Drivers

    Stocks broke a three-week losing streak with a strong rebound last week and remain in a trading range established after the June low.

  • Indicators Consistent With Continued but Slower Growth

    Stocks have been under pressure ever since Federal Reserve (Fed) Chairman Powell strongly reiterated that the Fed would continue pursuing its higher interest rate policy until inflation returns to its 2% long-term target.

  • The Future of Defense Spending

    With the war in Ukraine ongoing and geopolitical tensions with China showing no signs of receding, there is a renewed focus on defense spending not seen since the Cold War. Consequently, we expect investor interest in the defense industry to remain high in the coming years. This piece reviews critical aspects of the defense industry and highlights where future modernization dollars could be spent.

  • The Battle Between the Fed and Inflation Continues

    Stocks sold off on Friday after Federal Reserve (Fed) Chairman Powell strongly reiterated that the Fed would continue pursuing its higher interest rate policy until inflation returns to its 2% long-term target. This implies slower future economic growth to reduce demand and ease inflation pressures.

  • Mixed Signals For the Economy Continue

  • Importance of Semiconductors and Chips Act

    Semiconductors are the brains of modern electronics, enabling technologies critical to U.S. economic growth, national security, and global competitiveness. Semiconductors have driven advances in communications, computing, health care, military systems, transportation, clean energy, and countless other applications.

  • Thoughts on the Inflation Reduction Act

    President Biden is set to sign into law legislation designed to lower prescription drug prices, boost the renewable energy sector, and impose new taxes on large corporations. We have the following thoughts on this legislation.

  • Healthy Labor Market Not Consistent With Recession

    Stocks rose again for the third straight week as earnings continue to come in better than expected while the July employment report suggests that the U.S. economy is not in recession.

  • Portfolio Positioning for High Inflation

    Stocks remain volatile due to stubbornly high inflation readings that are leading to higher bond yields and Federal Reserve interest rate hikes. In this environment, we are often asked what an investor can do to protect their portfolio’s future purchasing power.

  • Cybersecurity Update

    This paper reviews the critical aspects of cybersecurity and security spending.

  • Income Producing Asset Options

    We are often asked about the best options for generating portfolio income, especially given today’s low interest rate environment. This piece reviews important income-generating asset classes and includes ideas from various Janney disciplines, including the Investment Strategy Group, Wealth Management, and Capital Markets.

  • Investment implications of sino-u.s. economic decoupling

  • The Case for Infrastructure Spending

    Congress recently passed the $1.2 trillion infrastructure bill, formally called the Infrastructure Investment and Jobs Act, and President Biden said he would sign the landmark bill into law soon.

  • A guide to environmental, social, and governance (ESG) investing

    Environmental, Social, and Governance (ESG) investing is a rapidly growing investment discipline that includes many factors that make up traditional corporate best practices. Consequently, many firms that score well on ESG metrics are also solid investment opportunities. While ESG evaluation is popular with women and millennials—two groups that continue to gain prominence in the investment world—it continues to gain importance for all investors. This piece reviews ESG investing.

  • Clean energy investment implications

    With concerns mounting about the human influence on climate change, highlighted by U.S. President Joe Biden rejoining the Paris Agreement on his first day in office, the importance of clean energy to the economy continues to grow.

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