Covenant Weekly Market Synopsis for October 27, 2017

October 30, 2017

In what was shaping up to be a down week for domestic equities, blowout earnings announcements in the technology sector by Amazon, Alphabet (aka Google) and Microsoft on Thursday afternoon catalyzed a strong rally on Friday.  The S&P 500 jumped 0.8% on the final day of the week, which by all accounts is a good […]

Covenant Weekly Market Synopsis for October 20, 2017

October 23, 2017

The S&P 500 and Dow Jones Industrial Average indices were a perfect 5-for-5 last week as each day brought higher prices than the day before. Most of the week’s gains came on Friday, following Thursday evening’s successful Senate vote on the budget. Importantly, the language in the bill was modified to simplify the Senate and […]

Covenant Weekly Market Synopsis for October 13, 2017

October 16, 2017

Halloween month is an apt time for our Gregorian calendar to cooperate by producing a Friday the 13th. Yet, nothing scary emerged this past Friday, at least not in the financial markets. Equities bounced higher with the Nasdaq Index closing at an all-time high – the S&P 500 and Dow Jones Industrial Indexes also hit […]

Covenant Weekly Market Synopsis for October 6, 2017

October 9, 2017

“Lather, rinse, repeat” say most shampoo bottles. So sayeth the equity markets in this historic run, evidenced by the S&P 500 recording its fourth consecutive weekly gain. In a market that keeps setting new records, the S&P 500 is on the cusp of another. Through Friday, the widely followed index had gone 332 days without […]

Covenant Weekly Market Synopsis for September 29, 2017

October 2, 2017

The market is boring… equity indices click higher seemingly every day to set new records. But, of course, this is the type of boring investors like. The alternative to a boring market can take many forms from a violent move lower to choppy waters in which markets move sharply higher and lower on successive days. […]

Covenant Weekly Market Synopsis for September 22, 2017

September 25, 2017

Same ol’, same ol’ equity markets…another week and more record closes for the DJIA, S&P 500 and Nasdaq stock indices. Although stocks didn’t close the week on their highs, the S&P managed to move ahead by 0.1%. Beneath the tranquil surface there were some less obvious short-term (thus far) changes to the market’s texture: Small […]

Covenant Weekly Market Synopsis for September 15, 2017

September 18, 2017

Hurricane Irma’s fortuitous last minute turn to the west and general fatigue with Lil’ Kim’s shenanigans touched off a strong week for equities. Although Irma caused severe damage in Florida and other areas of the southeast, realized damages were far lower than originally forecast when meteorologists expected Irma to take a more easterly path. While […]

Covenant Weekly Market Synopsis for September 8, 2017

September 11, 2017

Despite concerns about manmade weapons of mass destruction (Korea), natural weapons of mass destruction (Irma), and debt levels of mass proportion (the debt ceiling), global equities were relatively unchanged last week. Domestic stocks declined by 0.6%, while International stocks gained 0.6%. Squinting hard enough, one could see a subtle hint of a risk-off trade, even […]

Covenant Weekly Market Synopsis as of September 1, 2017

September 5, 2017

Investors looked past the increasingly belligerent North Korean dictator’s latest provocation (launching missiles over Japan) and the awful human and economic damage wrought by Hurricane Harvey. The S&P 500 gained 1.4% and the tech-heavy NASDAQ Index jumped 2.7% (it’s best weekly performance since December 2016 and a new, all-time high). International equities notched gains as […]

Covenant Weekly Market Synopsis as of August 25, 2017

August 28, 2017

Hurricane Harvey only grazed San Antonio, but other areas of the state are dealing with massive flooding and the ancillary problems it creates. Our thoughts and prayers are with those impacted by Harvey and the first responders who are trying to help them.   Equity markets bobbed and weaved, but ended the week looking more […]