Market Commentary

Stay up-to-date on market news with regular insights from our Janney investment analysts and strategists to help you understand today’s markets and their investment implications.

  • Thoughts on Banking System Stress

    Michael Halloran March 21, 2023

    Bank stocks remain under pressure with recent bank failures, causing fears of broader contagion. The concerns center on potential losses from bank’s bond portfolios (primarily high-quality Treasury bonds that have lost value due to rising interest rates) and depositors fleeing to large systemically important financial institutions.

  • What Impact Will the Upcoming Sector Rebalancing Have?

    Michael Halloran March 13, 2023

    As a result of their annual review of the Global Industry Classification Standard (GICS) structure, S&P Dow Jones and MSCI (providers of financial market indices) will be making several changes intended to better represent global equity markets for investors.

  • Banking Turmoil Underscores Impact of Rate Hikes

    Guy LeBas March 13, 2023

    It’s not every day that a top 20 bank in the United States faces a takeover by the Federal Deposit Insurance Corporation (FDIC). In fact, prior to March 2023, it had been 868 days without a bank failure—the longest stretch since the founding of the FDIC.

  • Thoughts on Recent Volatility and Economic Releases

    Michael Halloran March 13, 2023

    Stocks have been under pressure lately, first driven by hawkish commentary of further interest rate hikes by Federal Reserve (Fed) Chairman Powell during testimony to Congress and recently by concerns of bond portfolio losses within the banking system.

  • Global Manufacturing Improves but Signs of Sticky Inflation

    Michael Halloran March 6, 2023

    The global manufacturing surveys we just received for February show encouraging signs of stabilization, driven by China’s reopening. Consumer confidence and weekly jobless claims are also consistent with further economic growth.

  • The Other-Hand Market

    Gregory M. Drahuschak March 1, 2023

    Faced with often indecisive economic views, President Harry S. Truman yearned for what he called a one-handed economist who could offer an opinion without then beginning a countering view with the phrase “on the other hand.”

  • Threat of More Interest Rate Hikes Poses Headwind for Stocks

    Michael Halloran February 23, 2023

    After rebounding sharply to start the year, stocks are experiencing some volatility as better-than-expected economic readings, but evidence of sticky inflation, raise concerns that the Federal Reserve will raise interest rates higher for longer.

  • Improving Confidence Suggests Lower Odds of Near-Term Recession

    Michael Halloran February 13, 2023

    Stocks fell last week as markets continue to weigh a strong January jobs report against signs that disinflation is well under way.

  • Labor Market Strength Lowers Probability of Recession

    Michael Halloran February 7, 2023

    Friday’s impressive labor market report is a good news/bad news story.

  • How Do Small-Cap Stocks Fit Into My Investment Mix?

    Michael Halloran and Andrew Leger February 3, 2023

    Where an investor falls on the large-cap vs. small-cap debate normally aligns with their risk appetite.

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