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MARKET UPDATE | March 16, 2026
The S&P 500 fell 1.6% last week, marking its third consecutive weekly decline as rising oil prices and geopolitical tensions weighed on markets. The index closed the week at 6,632.19, leaving it down 3.6% for March and 3.1% for the year. Equity sentiment was pressured by the escalating conflict between the U.S. and Iran, which pushed energy prices higher and heightened investor uncertainty.

James C. McGrath
Mar 161 min read


MARKET UPDATE | March 9, 2026
The S&P 500 began March with a sharp pullback, falling 2% for the week to close Friday at 6,740.02. The benchmark index ended the week down roughly 1.5% for the year. Markets were under pressure for most of the week as investors reacted to the escalating conflict in the Middle East, where fighting between Israel and Iran had entered its seventh day and broadened across the region. Energy markets responded quickly, with crude oil surging towards $100 per barrel.

James C. McGrath
Mar 91 min read


MARKET UPDATE | March 2, 2026
While the hostilities in the Middle East will dominate the headlines this week, more conventional news drove the market before the weekend. The S&P 500 slipped 0.4% last week, pressured by weakness in technology and financials, and closed at 6,878.88. With Friday marking month-end, the index finished February down 0.9%, though it remains up 0.5% for 2026.

James C. McGrath
Mar 21 min read


MARKET UPDATE | February 23, 2026
The S&P 500 rose 1.1% in a shortened four-session week, closing at 6,909.51, led by communication services. The index is down 0.4% for February but up 0.9% year to date. Markets digested tariff developments after SCOTUS invalidated President Trump’s reciprocal tariffs under the International Emergency Economic Powers Act. Trump responded with plans to impose an additional 10% global tariff under Section 122 and to initiate new Section 301 investigations.

James C. McGrath
Feb 231 min read


MARKET UPDATE | February 16, 2026
The S&P 500 fell 1.4% last week to 6,836.17, leaving the benchmark down 1.5% for the month and slightly negative for 2026 (-0.1%). Losses in financials and communication services outweighed gains in defensive sectors, reflecting investor caution despite generally solid earnings results. Concerns centered on forward guidance, with Cisco declining 9.4% after warning of lower margins tied to rising memory costs despite beating quarterly estimates.

James C. McGrath
Feb 161 min read


MARKET UPDATE | February 9, 2026
The S&P 500 index slipped 0.1% last week to close at 6,932.30, leaving its year-to-date gain at 1.3%. The slight decline reflected a mixed bag of corporate earnings, where disappointments from mega-cap growth companies weighed against strength in defensive sectors. Economic signals were similarly conflicted; while consumer sentiment reached its highest level since August, ADP private sector employment rose less than projected, leaving investors awaiting the delayed government

James C. McGrath
Feb 91 min read


MARKET UPDATE | February 2, 2026
Stocks edged higher in the week ending last Friday as the S&P 500 rose 0.3% to close at 6,939.03, extending its January gain to 1.4%. The benchmark finished just below its recent record close of 6,978.60 and briefly touched a new intraday high above 7,000 earlier in the week, underscoring continued resilience despite a modest advance.

James C. McGrath
Feb 21 min read


MARKET UPDATE | January 26, 2026
Stocks paused this week as the S&P 500 edged down -0.4% to close at 6,915.61, marking its second consecutive weekly decline. Despite the slip, the benchmark remains up 1% for the month. Financials led the decline, falling -2.5%. Capital One plunged -9.1% after missing earnings estimates and announcing a $5.15 BN acquisition of AI-platform Brex. Real Estate and Utilities also lagged, dropping -2.4% and -2.0%, respectively

James C. McGrath
Jan 261 min read


Crazy?? No, That’s Just Normal.
This market is crazy! We don’t know what to do—the Administration is nuts; volatility is through the roof! The sky is falling!
What’s the truth of the matter? Maybe not what you think.

James C. McGrath
Jan 232 min read


Not So Magnificent
Is the AI-driven rally really maturing? Are valuation concerns real? It is clear that some investors want more tangible evidence of growth rather than just hype. That shift has driven some capital into smaller-cap or non-mega tech areas and has made the S&P 500 look decent in comparison.

James C. McGrath
Jan 211 min read


The Hedge Fund Scramble
Hedge funds have been all over the place, along with the markets, through the first part of this year. The average hedge fund held its own (more than we can say for the S&P 500) but some did really well. Is there anything we can say about the strategies that worked, and what might we learn about future positioning from what we've seen thus far?

James C. McGrath
May 19, 20256 min read


June 5, 2023 Market Update
The S&P 500 climbed for the 3rd week in a row, gaining +1.8%, led by the consumer discretionary and real estate sectors, both up by more tha

James C. McGrath
Jun 5, 20231 min read


May 22, 2023 Market Update
The S&P 500 gained +1.6% and is now up +9% YTD. The NASDAQ is clawing back from 2022 loses, with a +20% gain so far this year.

James C. McGrath
May 22, 20231 min read


May 15, 2023 Market Update
The S&P 500 declined for the 2nd week in a row, easing -20 bps.

James C. McGrath
May 15, 20231 min read


May 8, 2023 Market Update
The Fed's still at it but fatigue is setting in. The FOMC hiked by 25 bps. Markets didn't react strongly, although the S&P eased by -0.8%.

James C. McGrath
May 8, 20231 min read


May 1, 2023 Market Update
S&P 500 was up almost +1% for the week. It's +1.5% in April and +8.6% YTD. Q1 GDP was up +1.1% vs. expectations of +2% figure.

James C. McGrath
May 1, 20231 min read


April 24, 2023 Market Update
We're in crunch time for earnings season, and it's not all bad. The S&P 500 eased -0.1% last week despite many companies beating estimates.

James C. McGrath
Apr 24, 20231 min read


April 17, 2023 Market Update
Aside from JPM holders, last week didn’t thrill most investors; the S&P 500 gained +0.8%; it’s up +7.8% for the year.

James C. McGrath
Apr 17, 20231 min read


April 10, 2023 Market Update
March retail sales, import prices, and April consumer sentiment weigh against the an S&P at 18X forward earnings; equity bulls are hiding.

James C. McGrath
Apr 10, 20231 min read


April 3, 2023 Market Update
Stocks finished strongly last week, with the S&P 500 up +3.5%; every sector gained. The index added +7% in the first quarter.

James C. McGrath
Apr 3, 20231 min read
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