Executive Summary The S&P 500 recently entered “correction” territory after falling 10% by March 13 of this year. Both the rise and the fall of the S&P 500 were led by the Mag 7 stocks. The first graph below illustrates the Mag 7 stocks leading the recent [...]
Executive Summary The Empire State Manufacturing Survey shows a 25.5 point drop in General Business Conditions (first graph), much lower than expected and in recessionary territory. Additionally, the Census Bureau released February’s Advanced Retail Sales Report which was .2% month-over-month, below expectations of .6%. And on top [...]
Executive Summary The Wall Street Journal article entitled “Biden’s Mortgage ‘Relief’ Fuels Higher Housing Prices” sheds some light on how housing prices have remained high in a rising interest rate environment. According to the article, the FHA instituted a program (as COVID relief) where missed payments are [...]
Executive Summary The National Bureau of Economic Research (NBER) is the official declarer of recessions. Oftentimes a recession is not declared until a year after it begins, due to subsequent data revisions. The first graph below shows real GDP growth, including estimates for 2025 and 2026. Of [...]