Income Focused Investments Continue To Show Weakness

 August 27 2016     David Templeton
Janet Yellen's Jackson Hole comments on Friday did not do any favors for the performance of income focused investments. The Fed chairman's comments($) led market participants to believe a rate hike for September is back on the table and at least more likely in December. The rate hike fear continues to put downward pressure on income focused investments which some investors view as bond substitutes...

What A Difference A Day Makes: The Calendar Roll

 August 22 2016     David Templeton
The S&P 500 Index was essentially flat today, down .06%; however, an investor's one year price only return will increase over three full percentage points from last Friday's close to today's close. For an investor invested in the S&P 500 Index, Friday's (8/19/2016) one year price only return equaled 7.28% and one day forward to Monday's close, the investor's one year return increases to 10.74%. Th...

Some Favorable Market Technicals But Awaiting A Resumption Of Earnings Growth

 August 20 2016     David Templeton
For the better part of a month the S&P 500 Index has traded in a very narrow range. Some strategists believe the market has come too far too fast since the June low and a correction is necessary before the market moves higher. We have noted from time to time that corrections can occur in price, i.e., a decline or in time, i.e., trade sideways for an extended period. At this point in time it appear...

Highlights From S&P Dow Jones Indices Dividend Aristocrats Update

 August 19 2016     David Templeton
S&P Dow Jones Indices recently provided an update on the performance of the S&P 500 Dividend Aristocrats Index compared to the S&P 500 Index. It should be noted the Aristocrats index is an equally weighted index that is rebalanced quarterly. Index members are determined annually based on December year-end information with changes effective at the end of the subsequent January. I have written about...

Individual Investors Still Love Apple

 August 17 2016     David Templeton
From time to time I review the most active stocks by individual investors as compiled by Better Investing Magazine. I last updated the list in March and the two stocks that dropped off of the most active list from that time are Under Armor (UA) and Netflix (NFLX). The new additions are Wells Fargo (WFC) and Southwest Airlines (LUV). Apple (AAPL) has remained at the top of the list as far back as J...

Should Investors Worry More About A Bond Or Stock Market Correction?

 August 16 2016     David Templeton
A great deal of commentary over the past few days has focused on the recent equity market trifecta, i.e., the Dow Jones Industrial Average, the S&P 500 Index and the Nasdaq Composite Index all hit new all time highs on the same day and the heightened potential for an equity market correction. Over the past week or so, LPL Financial Research has published some good analysis around the broad index p...

History Suggests Record Equity Market Highs Do Not Mean Investors Should Sell Stocks

 August 11 2016     David Templeton
In late January and then in mid February I wrote posts noting our firm's positive view on the equity markets (here and here). It was a difficult position to take at the beginning of the year with the market in decline. As of the close today. and the first time since 1999, the S&P 500 Index, the Dow and the Nasdaq hit highs on the same day. Both the Dow and S&P 500 Index are up nearly 7% year to da...

Buyback Index Trails Broader S&P 500 Index

 August 8 2016     David Templeton
In an article earlier today I noted how corporate buybacks over the last two plus years have far outpaced U.S and foreign investors' outflow from equity investments. This strength in buybacks has not translated into outperformance for these buyback firms relative to the S&P 500 Index though. As the below chart shows, the cumulative total return performance of the Powershares Buyback Achievers ETF ...

Most Everyone Is Bearish On Equities Except Companies

 August 8 2016     David Templeton
Last Friday the S&P 500 Index closed at its daily high of 2,182.87 and this equated to a 20.6% advance since the February 11th intra-day low. In spite of this strong advance from the February low and a price only return of 6.8% this year, most investors remain bearish on stocks.This bearishness has translated into equity outflows of mutual funds and ETFs with bond investments capturing much of the...

Jobs Were The Missing Link?

 August 5 2016     David Templeton
The equity market's reaction to the above consensus job report today would make one believe the only missing link in the economic recovery was today's job's report. The 255,000 increase in nonfarm payrolls exceeded the consensus of 185,000 and the top range of 215,000. The end result is the S&P 500 Index was able to breakout of its sixteen day trading range.I will not repeat what Scott Grannis had...
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