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Tuesday, September 22, 2020

The Week on Wall Street Stocks slipped as the technology sector remained under pressure and a mid-week announcement by the Federal Reserve failed to inspire investors. The Dow Jones Industrial Average declined 0.03%, while the Standard...

Tuesday, September 15, 2020

The Week on Wall Street Stocks traveled a volatile path last week as investors appeared concerned about the upcoming elections, an uncertain economy, and more delays with additional fiscal stimulus. The Dow Jones Industrial Average...

Tuesday, September 1, 2020

The Week on Wall Street Stocks advanced relentlessly last week on positive COVID-19 developments, encouraging economic data, and a supportive policy shift in the Fed’s approach to its target inflation rate. The Dow Jones...

Tuesday, August 25, 2020

The Week on Wall Street Stocks powered to another week of gains as the S&P 500 and Nasdaq Composite set multiple new record highs along the way. The Dow Jones Industrial Average was essentially unchanged while the Standard &...

Monday, August 17, 2020

The Week on Wall Street Stock prices drifted higher in an otherwise quiet news week, as a slowdown in new COVID-19 cases outweighed a Congressional impasse on a new fiscal-spending measure. The Dow Jones Industrial Average gained 1.81%...

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Monday, August 10, 2020

The Week on Wall Street Overlooking stalled efforts by Congress to pass a new fiscal stimulus bill, stocks marched higher last week with the Dow Jones Industrials leading the way and the NASDAQ Composite setting multiple fresh record...

Monday, July 27, 2020

The Week on Wall Street Stocks slipped in the final days of trading last week on higher jobless claims and rising tensions in the U.S.-China relationship. The Dow Jones Industrial Average lost 0.76%, while the Standard & Poor’s...

Monday, July 20, 2020

The Week on Wall Street Stocks were mixed last week as investors reacted to positive economic data, progress on a COVID-19 vaccine, and the continued nationwide increase in COVID-19 cases. The Dow Jones Industrial Average gained 2.29%,...

Monday, July 13, 2020

The Week on Wall Street Stock prices notched solid gains last week, looking past an increase in COVID-19 cases and any potential economic concerns raised by the trend. The Dow Jones Industrial Average increased by 0.96%, while the...

Tuesday, July 7, 2020

The Week on Wall Street In a holiday-shortened week, stock prices turned higher as encouraging economic data outweighed an increase in COVID-19 cases and a rollback in economic re-openings. The Dow Jones Industrial Average rose 3.25%,...

Monday, June 29, 2020

The Week on Wall Street A jump in COVID-19 cases dampened investor enthusiasm last week, sending stock prices lower on worries that rising infections could derail the economic recovery. The Dow Jones Industrial Average slumped 3.31%,...

Monday, June 22, 2020

The Week on Wall Street Stocks moved higher last week on news of more Federal Reserve market support and diminished concerns that new COVID-19 cases might lead to another economic shutdown. The Dow Jones Industrial Average rose 1.04%,...

Monday, June 15, 2020

The Week on Wall Street Investor sentiment turned negative last week, amid an increasing number of COVID-19 cases in states where reopening has been underway as well as a subdued economic forecast from the Federal Reserve. The Dow...

Monday, June 8, 2020

The Week on Wall Street A positive jobs report sent stocks soaring last Friday, capping a solid week as evidence of a global economic recovery outweighed concerns over civil unrest and tensions with China. The Dow Jones Industrial...

Monday, June 1, 2020

The Week on Wall Street The shortened week, which began with a powerful two-day rally of trading, was enough to drive the markets into another week of solid gains. The Dow Jones Industrial Average rose 3.75%, while the Standard &...

Tuesday, May 26, 2020

The Week on Wall Street Upbeat comments by the Federal Reserve Chairman and more signs of an economic turnaround combined to help fuel a powerful rally in the stock market last week. The Dow Jones Industrial Average rose 3.29%, while...

Monday, May 18, 2020

The Week on Wall Street Stocks drifted lower last week, weighed down by Federal Reserve Chairman Jerome Powell’s unsettling comments on the economy and signs of renewed tensions with China. The Dow Jones Industrial Average fell 2...

Monday, May 11, 2020

The Week on Wall Street Despite a historic downturn in employment, stocks managed to climb higher last week as investors were emboldened by the pace of economic re-openings, both here and abroad. The Dow Jones Industrial Average gained...

Monday, May 4, 2020

The Week on Wall Street Stock prices ended the week slightly lower, despite news of positive results from a test trial of a COVID-19 drug treatment and several states easing their economic lockdowns. The Dow Jones Industrial Average...

Monday, April 27, 2020

The Week on Wall Street Stock prices bounced around last week as investors reacted to wild swings in the price of oil and reports that called into question the efficacy of two potential virus treatments. The Dow Jones Industrial...

Monday, April 20, 2020

The Week on Wall Street Stock prices pushed higher last week as news of a White House plan to reopen the economy and reports of a potential COVID-19 treatment helped the market overcome weak economic data and an ugly start to the...

Wednesday, April 8, 2020

Dear Friends, Not one economist or analyst in America forecast that the United States would intentionally shut down a very large part of our economy for close to 3 months this year. Yet, that is exactly what we are in the middle of...

Tuesday, April 7, 2020

Over the past several years I’ve used a lot of ink writing in these pages about the “high-quality” companies. What I like most about quality businesses is their resilience in the face of shocks like the COVID-19...

Monday, April 6, 2020

In the wake of the 2008 financial crisis, strong actions were warranted by the Central Bank and US government. One of these actions was a swift drop of the Federal Funds rate to 0%. This FOMC (Federal Open Market Committee) target rate...

Sunday, April 5, 2020

The digital economy was already pounding the physical economy before we experienced COVID-19......the best example is seeing the new Tesla auto dealership opening in Danvers, Massachusetts where the old Sears Automotive stood for 40...

Saturday, April 4, 2020

What a difference 3 months makes. Back in January everything seemed fine. As we rolled into 2020, the global stock markets had just experienced a very strong year to finish off a very strong decade. In our last quarterly newsletter, I...

Friday, April 3, 2020

It goes without saying that we’re living in very uncertain times. The nonstop news cycle allows us little reprieve from the onslaught of bad news. Many families are already struggling to make ends meet and others are coping with...

Thursday, April 2, 2020

The Week on Wall Street Modest declines in stock prices this week masked the volatile inter- and intraday price swings as investors digested poor economic data and a warning from the president that the worst days of the COVID-19...

Monday, March 30, 2020

An open-ended commitment by the Federal Reserve to support American businesses and capital markets along with the passage of a $2 trillion aid package improved investor sentiment and drove a strong rally in stock prices. The Dow Jones...

Monday, March 23, 2020

The Week on Wall Street The stock market suffered through another volatile week as it wrestled with the health and economic fallout of the domestic spread of the coronavirus. Swift and decisive actions by the Federal Reserve and policy...

Monday, February 10, 2020

The Week on Wall Street Stocks advanced four days out of five during the past market week, erasing the losses of the week before. The Nasdaq Composite surged 4.04%, the S&P 500 3.17%, and the Dow Jones Industrial Average 3.00%. Foreign...

Monday, February 3, 2020

The Week on Wall Street Stock benchmarks declined for a second straight week as coronavirus news tempered risk appetite. The S&P 500 fell 2.14% on the week. The Nasdaq Composite dipped 1.76%, and the Dow Jones Industrial Average, 2.55%...

Thursday, January 16, 2020

As we begin the new year, we think about the important task of implementing a well-thought-out and diversified‑asset‑allocation plan for your wealth. The Cabot team has discussed this with our clients and has laid out what they believe...

Thursday, January 16, 2020

As we turn the page on this past decade, it’s important that we take some time to think about a few broader, more structural, issues that will shape financial markets during the upcoming decade. There are key mechanical changes...

Thursday, January 16, 2020

What Happened in 2019? A Rising Tide Lifted All Boats. Salem’s proximity to the ocean may cause us to overdo it on the nautical references from time to time. However, I think that one is apt for 2019. We entered the year in a dark...

Thursday, January 16, 2020

A few years ago, a reporter interviewed me for an article she was writing. One question was “What is your recommended portfolio allocation given current market conditions?” My boring but truthful answer was that investment...

Thursday, January 16, 2020

As a wealth manager for many of our high-net-worth clients, we offer services that extend well beyond the scope of investment manager. This may often include assisting you with the important job of minimizing federal, state and estate...

Thursday, January 16, 2020

In late December the SECURE Act was passed by Congress and signed by the President. The SECURE Act immediately changed several rules related to retirement planning. 1. Required minimum distributions (RMDs) now begin in the year you...

Monday, January 13, 2020

The Week on Wall Street The market had a choppy five days, with traders reacting to geopolitical developments and weaker-than-expected jobs data. Even so, the three major U.S. equity indices posted weekly gains and continued their...

Monday, January 6, 2020

What Drove the Markets? Four factors influenced investment performance in 2019: a shift in U.S. monetary policy, the ongoing trade dispute between the U.S. and China, earnings, and the economy. Stocks reached record highs in 2019. The...

Monday, December 16, 2019

The Week on Wall Street The U.S. and China announced a limited trade agreement last week. That news lifted U.S. and foreign stocks, leading to weekly gains. Advancing 0.91% on the week, the Nasdaq Composite outperformed the S&P 500 (up...

Monday, December 9, 2019

The Week on Wall Street Key Wall Street benchmarks were up and down last week – or rather down and then up. A Tuesday retreat was offset by a Friday rally spurred by the Department of Labor’s November jobs report. While the...

Monday, December 2, 2019

The Week on Wall Street As November wrapped up, U.S. equity benchmarks advanced. Stocks were again aided by a sense of optimism that a preliminary U.S.-China trade deal could be near. For the week, the Nasdaq Composite added 1.87%; the...

Monday, November 25, 2019

The Week on Wall Street Stocks declined last week as mixed signals emerged about the progress of U.S.-China trade negotiations. The three major Wall Street benchmarks all took weekly losses. The Dow Jones Industrial Average declined 0...

Tuesday, November 19, 2019

The Week on Wall Street Stock benchmarks were little changed for much of last week, but a rally occurred Friday after news broke that the U.S. and China could be closing in on the first phase of a new trade pact. At Friday’s...

Tuesday, November 12, 2019

The Week on Wall Street Domestic and international stocks rose last week. Risk appetite outweighed concerns about the state of U.S.-China trade discussions. The Dow Jones Industrial Average, Nasdaq Composite, S&P 500, and MSCI EAFE all...

Monday, November 4, 2019

The Week on Wall Street A better-than-forecast jobs report prompted a stock market rally Friday, two days after traders witnessed another interest rate cut by the Federal Reserve. Both the S&P 500 and Nasdaq Composite ended the week at...

Monday, October 28, 2019

The Week on Wall Street The S&P 500 came within 0.1% of a record close Friday. Stocks were lifted last week by positive news on U.S.-China trade negotiations, plus earnings announcements. The Nasdaq Composite posted the largest weekly...

Tuesday, October 22, 2019

The Week on Wall Street Earnings helped give the Nasdaq Composite and S&P 500 a slight lift last week, offsetting investor disappointment over the small scope of the preliminary U.S.-China trade deal reached on October 11. Blue chips...

Wednesday, October 16, 2019

Computers and super-smart software are now preparing to take over many jobs handled by humans. Does this mean human workers are out of luck? NO, not by a long shot. It is estimated by the World Economic Forum (WEF) that 133 million new...

Wednesday, October 16, 2019

At our recent Evening Event with the Cabot Team I discussed the volatility around interest rates and a few of the critical economic indicators that could be driving yields back down to the lowest levels seen earlier this cycle. Here is...

Wednesday, October 16, 2019

Here is what low- and negative- interest rates look like: A 10-year US treasury: Price $99.50, pays $1.60 per year and $100 on 8/15/29.A 10-year German treasury: Price €105.86, pays €0 per year and €100 on 8/15/29! This...

Tuesday, October 15, 2019

ESG - Environmental, Social, and Governance I spoke at our recent Evening Event with the Cabot Team about how we integrate ESG risk analysis in our process of choosing individual stocks and would like to summarize that for you here....

Tuesday, October 15, 2019

Dear Friends, The one constant of financial markets is change. Economic, political, technological, regulatory, environmental, and psychological changes are key basic laws of markets. There are forces in our system that are moving these...

Monday, October 14, 2019

The Week on Wall Street Stock prices pushed higher last week, as investors remained hyper-focused on any new developments with the U.S. trade negotiations with China. The Dow Jones Industrial Average picked up 0.91%, while the Standard...

Tuesday, October 8, 2019

The Week on Wall Street The fourth quarter started with a mixed week for equities. The Dow Jones Industrial Average lost 0.92% for the week; the S&P 500, 0.33%. In contrast, the Nasdaq Composite improved 0.54%. Overseas stocks pulled...

Monday, September 30, 2019

The Week on Wall Street Stocks retreated last week. Traders worried that the formal impeachment inquiry of President Donald Trump might distract White House officials from their pursuit of a trade deal with China, and shift the focus...

Monday, September 23, 2019

The Week on Wall Street Investors reacted to two major news items last week, one far more of a surprise than the other. The Federal Reserve did indeed make a rate cut, matching Wall Street expectations. Drone strikes on two of the...

Monday, September 16, 2019

The Week on Wall Street Stocks edged toward all-time peaks during a relatively calm week marked by easing trade tensions. Friday marked the eighth straight daily advance for the Dow Jones Industrial Average.[1] Small-cap shares, as...

Tuesday, September 3, 2019

The Week on Wall Street Fears of an impasse in the U.S.-China trade dispute lessened last week. While additional U.S. tariffs on Chinese imports were scheduled to take effect on September 1, China’s government communicated that...

Monday, August 26, 2019

The Week on Wall Street Traders assumed that the week's biggest news event would be Federal Reserve Chairman Jerome Powell's speech at the annual Jackson Hole banking conference. Instead, China seized the headlines by announcing new...

Monday, August 19, 2019

The Week on Wall Street U.S. stock indices saw significant ups and downs last week, with traders looking for economic cues from Treasury yields and also developments in the tariff fight between the U.S. and China. The S&P 500 lost 1...

Monday, July 29, 2019

The Week on Wall Street Last week, investors assessed earnings and the initial estimate of second-quarter economic growth, while awaiting the Federal Reserve's next announcement about interest rates. Stocks rose for the week;...

Monday, July 22, 2019

The Week on Wall Street Stock benchmarks retreated during the first week of the second-quarter earnings season. As some big names shared quarterly results, investors seemed more interested in what might happen at the Federal Reserve's...

Tuesday, July 16, 2019

As we enter our 10th year of economic expansion, the chorus grows among experts and analysts on Wall Street that we will eventually, “Enter a recession and stock prices will surely enter a bear market”. All this correction...

Tuesday, July 16, 2019

There are many reasons why advisors utilize Roth conversions to bolster a client’s success in retirement, so it is important to have a general understanding of the mechanics involved, why you would want to complete a conversion,...

Tuesday, July 16, 2019

Stock market prices on any given day are a function of the collective information known by millions of investors globally. Specifically, changing global economies, corporate earnings, interest rates, and geopolitical issues are all...

Tuesday, July 16, 2019

As a regular feature, we’ll be highlighting aspects of ESG investing, an approach that takes into account risks relating to Environmental, Social, and Governance factors. It is important to note that ESG is not about personal or...

Tuesday, July 16, 2019

Correction? What correction? Equity markets around the world plowed ahead in the 2nd quarter, putting last year’s very difficult 4th quarter finish further into the rearview mirror. In fact, as you can see from the accompanying...

Monday, July 15, 2019

The Week on Wall Street Friday, the S&P 500 settled above 3,000 for the first time, after rising 0.78% for the week. The Dow Jones Industrial Average chalked up a milestone of its own: the blue chips ended the week above 27,000,...

Monday, July 1, 2019

The Week on Wall Street A month of gains for stocks ended with a weekly retreat. The S&P 500 lost 0.30%; the Nasdaq Composite, 0.32%; the Dow Jones Industrial Average, 0.45%. In contrast, overseas shares, tracked by the MSCI EAFE...

Monday, June 24, 2019

The Week on Wall Street The S&P 500 hit an all-time peak of 2,964.03, in intraday trading Friday, while improving 2.20% across five market days. The Dow Jones Industrial Average and Nasdaq Composite posted respective, 5-day advances...

Friday, April 12, 2019

To date, 2019 has surprised many investors with the strength in equity prices. We expect a more positive environment in general in 2019 with periodic corrective phases. Over the years of managing client portfolios, there are some core...

Friday, April 12, 2019

What a difference a year makes. At this time last year the U.S. Federal Reserve, “the Fed”, had just raised the federal funds rate, the most important benchmark for short-term rates, by 0.25% to 1.75%. The new Fed Chairman,...

Friday, April 12, 2019

The market’s mood shifted dramatically as the calendar turned, with global stocks rebounding in the first quarter of 2019 from a very difficult fourth quarter of 2018. Double-digit declines in US and international markets in 4Q...

Friday, April 12, 2019

The U.S. stock market is off to one of its best starts in history, but let’s not forget that 2018 was marked with increased volatility that caused many investors to consider exiting the markets, especially during the last quarter...

Friday, April 12, 2019

Experience has demonstrated that Artificial Intelligence (AI), like other technologies, will likely cause both disruption and growth opportunities. Even though AI is a headline-grabber today, AI has come a long way in the last few...

Friday, April 12, 2019

We are all aware of the overwhelming cost of a college education today. Tuition and fees continue to climb each year with no end in sight. Saving enough to fund your child’s (or grandchild’s) education can be a daunting...

Wednesday, October 17, 2018

2018 has been a challenging year for many global equity markets. There are three factors that matter most today for global economies and markets: Central Bank policy is changing in U.S. – thus allowing interest rates to rise....

Wednesday, October 17, 2018

Stock Selection: Balancing Quality, Value and Growth “Don’t put all your eggs in one basket”, is age-old advice. Indeed, we talk extensively about diversifying your investments geographically (US, Foreign Developed...

Wednesday, October 17, 2018

Thank you to all who attended our fixed-income session at the conference this year. Unfortunately, we didn’t have quite the level of interest we had at last year’s session. I suppose next year I will have to come up with a...

Wednesday, October 17, 2018

If you’re considering retirement and have purchased stock of the company you work for within your retirement plan, you have an opportunity to manage the income taxes you pay on any plan distributions by taking advantage of an...

Wednesday, October 17, 2018

Pictured here is Rob Lutts with an executive of Western Pest Services, a division of Rollins, Inc. Rob Lutts attended an investment program in August at the New York Stock Exchange by Rollins, Inc. (ROL). Rob was there researching the...