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Commentary: Q1 Buybacks Boost Stocks Amid Market Recovery
There have been plenty of catalysts supporting the broader market’s recovery from the correction lows set last month. Oversold conditions fueled by indiscriminate selling left the S&P 500 with washed-out market breadth and a hard reset of its lofty valuation. First quarter earnings season came in much better than feared, and most companies unexpectedly did not pull forward guidance.
J. J. Wenrich CFP®
Jun 89 min read


Commentary: Tariffs and Market Volatility Likely to Stick
There has been no shortage of trade policy curveballs thrown at the market since the White House announced shockingly high reciprocal tariffs on April 2. Stocks fell sharply and interest rates spiked on that news, prompting President Trump to pivot to a 90-day reciprocal tariff pause.
J. J. Wenrich CFP®
Jun 111 min read


Commentary: Can Earnings Catch Up to This Stock Market Rally?
First quarter reporting season was solid, but results didn’t offer much of a confidence boost in the outlook for the rest of the year. It wasn’t corporate America’s fault — tariff uncertainty makes it very difficult for most companies to offer an outlook that they can have confidence in. Analysts did get enough guidance to take estimates down for the rest of the year to credible levels, which is a positive step in restoring market confidence.
J. J. Wenrich CFP®
May 268 min read


Commentary: Market Update: Tariff Pause Boosts Sentiment, Fed Steady
Investor sentiment dramatically changed after Treasury Secretary Scott Bessent and other members of the Trump administration announced a temporary pause on tariffs with China. Was that sentiment shift warranted and did anything materially change? Estimates of the effective tariff rate continue to vary and have wide confidence intervals.
J. J. Wenrich CFP®
May 187 min read


Commentary: Bulls Are on Trial
A busy week of earnings, trade negotiations, and monetary policy meetings left the S&P 500 down around 0.5%. Buyer fatigue appeared to be setting in at this stage of the recovery as risk appetite from positive trade headlines faded by Friday.
J. J. Wenrich CFP®
May 119 min read


Commentary: Finding Value Among the Muni Market Malaise
The municipal bond market faced significant volatility in April, driven by spillovers from a turbulent Treasury market. Treasury yields were pressured higher by rising inflation expectations; the Federal Reserve’s cautious policy stance, reduced foreign demand; hedge fund deleveraging, portfolio shifts toward cash, and structural illiquidity.
J. J. Wenrich CFP®
May 49 min read


Commentary: Softer Tone on China Is Encouraging, but Some Caution Still Advised
The softer tone toward China from the White House, President Trump’s pledge not to fire Federal Reserve (Fed) Chair Jerome (Jay) Powell, and renewed optimism about Fed rate cuts all helped drive a strong market rebound last week.
J. J. Wenrich CFP®
Apr 277 min read


Commentary: Revising Our S&P 500 Target Amid a Storm of Uncertainty
LPL Research discusses another volatile week for markets, introduces a revised S&P 500 target, and assesses the likelihood of the lows recently being reached.
J. J. Wenrich CFP®
Apr 209 min read


Commentary: Decent Chance Stock Market Bottom Is in but Far From Certain
Last week we were able to check several of the boxes on our stock market bottoming process checklist.
J. J. Wenrich CFP®
Apr 1311 min read


Commentary: Tariff Turmoil: Where Do We Go From Here?
Markets got quite a surprise from the Trump administration last week in the form of tariffs above even the most aggressive forecasts...
J. J. Wenrich CFP®
Apr 612 min read


Commentary: Tariff Uncertainty Facing Stocks to Start Clearing Soon
Wednesday is the big day when the Trump administration will provide more clarity on their tariff plans.
J. J. Wenrich CFP®
Mar 309 min read


Commentary: Powell Walked a Tightrope
Trade uncertainty and nagging inflation made Federal Reserve (Fed) Chair Jerome Powell walk a tightrope at the latest press conference.
J. J. Wenrich CFP®
Mar 237 min read


Commentary: Market Correction Perspective
U.S. equity markets officially entered correction territory last week for the first time in 344 trading days.
J. J. Wenrich CFP®
Mar 168 min read


Commentary: Navigating Strategic and Tactical Investment Horizons: The Differences
Heightened volatility and uncertainty in both financial markets and the broader economy present challenges and opportunities for investors.
J. J. Wenrich CFP®
Mar 910 min read


Commentary: Earnings Season Recap: Strong Growth, Big Upside, Now What?
Fourth quarter earnings season is nearly complete, and it has been a good one.
J. J. Wenrich CFP®
Mar 27 min read


Commentary: Refinancing ZIRP
The U.S. Treasury market is entering a significant transition period in 2025, facing both structural adjustments and all-too-familiar policy
J. J. Wenrich CFP®
Feb 238 min read


Commentary: Tariffs Ignite a Metals Melt-Up
Stocks continued to climb the wall of worry last week and shrugged off tariff headlines, inflation volatility, and signs of a slowdown
J. J. Wenrich CFP®
Feb 177 min read


Commentary: Key Pillars of the Bull and Bear Cases in 2025
Use of the terms “bull” and “bear” in financial markets can be traced back to London’s financial district in the late 19th century
J. J. Wenrich CFP®
Feb 911 min read


Commentary: U.S. Exceptionalism: Is It Still Intact?
With China’s DeepSeek pressuring investors to take a closer look at the current environment of artificial intelligence (AI) development with
J. J. Wenrich CFP®
Feb 25 min read


Commentary: Q4 Earnings Preview: Mix of Solid Growth and Policy Uncertainty
Earnings season is underway and, thanks to the banks, it’s off to a good start.
J. J. Wenrich CFP®
Jan 208 min read
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