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Read the hottest topics of the day from the SMN Research thought leaders. From stocks and bonds to the latest data from the government and everything in between, you’ll find the team’s expansive range of investing and economic expertise—served up in granular detail.

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Weekly Market Performance — June 21, 2024

| Kristian Kerr

SMN Research's Weekly Market Performance for the week of June 17, 2024, highlights more new index highs, volatility in the bond markets, and rising oil prices.

How Low Can Volatility Go?

| Adam Turnquist

SMN Research explores the technical and seasonal setup for implied equity market volatility and how stocks perform across various volatility backdrops.

The Texas Stock Exchange Aims to Buck Wall Street

| Kristian Kerr

SMN Research discusses newly announced plans for the Texas Stock Exchange.

Weekly Market Performance — June 14, 2024

| Jeff Buchbinder

SMN Research's Weekly Market Performance for the week of June 10, 2024, highlights more all-time market highs, cooling economic data, and a stronger dollar.

S&P 500 Records on Repeat

| Adam Turnquist

SMN Research explores the record-high rally in stocks and why a breakdown in Treasury yields could underpin a broader market rotation.

Markets React to Softer Inflation

| Dr. Jeffrey Roach

SMN Research walks through the dilemma the Federal Reserve has with sticky inflation.

NVIDIA: Dividing and Conquering or Time to Split?

| George Smith

SMN Research examines NVIDIA’s recent stock split, AI dominance, and the chipmaker’s rise to the second-most valuable U.S. public company.

Weekly Market Performance — June 7, 2024

| Jeff Buchbinder

SMN Research's Weekly Market Performance for the week of June 3, 2024, highlights a sixth weekly gain for stocks, strong jobs data, and higher bond yields.

A Pullback Opportunity in Copper

| Adam Turnquist

SMN Research explores the supply and demand dynamics driving copper.

Muni Summer Set-up: Seasonal Tailwinds & Easing Interest Rates

| Lawrence Gillum

SMN Research examines the summer set-up for muni investors with several (potential) tailwinds on the horizon.

Quant’s New Frontier

| Jina Yoon

SMN Research discusses how machine learning has impacted the investment industry.

Weekly Market Performance — May 31, 2024

| Kristian Kerr

SMN Research's Weekly Market Performance for the week of May 27, 2024, highlights tepid demand for Treasuries and the end of the S&P 500s five-week win streak.

Seasonal and Technical Setup for the S&P 500

| Adam Turnquist

SMN Research explores the seasonal and technical setup for the S&P 500.

Uninsured Motorists Are Driving Up Rates

| Dr. Jeffrey Roach

SMN Research explains the sticky components of inflation.

Weighing Pros and Cons of the Technology Sector

| Jeff Buchbinder

SMN Research examines several pros and cons of investing in the technology sector.

Weekly Market Performance — May 24, 2024

| Jeff Buchbinder

SMN Research's Weekly Market Performance for the week of May 20, 2024, highlights continued large cap tech strength, Fed Minutes, and rate cut expectations.

Sure, Cash Is Cool Again, but Bonds Are Better

| Lawrence Gillum

SMN Research examines the investment case for bonds over cash now that Fed rate hikes are likely over.

Main Street vs. Wall Street: Separate but Parallel

| Dr. Jeffrey Roach

SMN Research explores the impact of the economy on operating earnings growth.

Key Market Themes During Election Periods

| Jeff Buchbinder

SMN Research looks at the top issues for investors to consider as the November presidential election approaches.

Weekly Market Performance — May 17, 2024

| Kristian Kerr

SMN Research's Weekly Market Performance for the week of May 13, 2024, highlights new record highs, a decline in consumer inflation data, and tech strength.

April Fund Flows: Investors Flock to Bonds

| George Smith

SMN Research explores April fund flows data to uncover investor sentiment, sector preferences, and the ongoing shift from active mutual funds to active ETFs.

Some Good News and Some Not So Good News

| Dr. Jeffrey Roach

SMN Research examines the changing landscape for inflation as consumer demand eases.

Commercial Real Estate — Is Now Time to Invest?

| Jeff Buchbinder

SMN Research takes a deep dive into the commercial real estate sector, providing an overview, as well as analyzing recent performance and valuations.

Weekly Market Performance — May 10, 2024

| Kristian Kerr

SMN Research's Weekly Market Performance for the week of May 6, 2024, highlights another market winning streak, a utilities rally, and Treasury auctions.

Utilities Regain Power

| Adam Turnquist

SMN Research discusses how utility stocks have become an artificial intelligence play and how data center demand could provide a tailwind for the sector.

Excess Savings Are Gone. Now What?

| Dr. Jeffrey Roach

SMN Research examines the implications of depleted excess savings on consumer spending and the broader economy.

Sector Returns During a Fed Pause

| Jeff Buchbinder

SMN Research examines market and sector returns during prior long Federal Reserve interest rate pauses.

Weekly Market Performance — May 3, 2024

| Jeff Buchbinder

SMN's Weekly Market Performance for the week of April 29, 2024, highlights stocks ending in green, thanks to a dovish Fed and solid earnings reports.

China Climbs Out of a Bottom

| Adam Turnquist

SMN Research highlights the recent technical progress being made in China's stock market and why the recent rally could continue.

Macro Strategies Shine

| Jina Yoon

SMN Research updates investors on the performance and benefits of Macro-related alternative investment strategies in 2024.

Sell in May and Go Away?

| George Smith

SMN Research explores whether investors should follow the market adage “sell in May” and other clues seasonality can give us about markets in 2024.

Weekly Market Performance — April 26, 2024

| Jeff Buchbinder

SMN Research's Weekly Market Performance for April 22, 2024, highlights the S&P 500 bouncing back from previous losses, strong earnings, and GDP.

Bears Come Out of Hibernation

| Adam Turnquist

SMN Research highlights recent changes in investor sentiment and what that could mean for stocks going forward.

The Patient Pause

| Dr. Jeffrey Roach

SMN Research examines the implications of current Federal Reserve policy on markets.

March and First Quarter Fund Flows

| George Smith

SMN Research explores March and Q1 fund flow data and investor sentiment across asset classes.

Weekly Market Performance — April 19, 2024

| Jeff Buchbinder

SMN Research's Weekly Market Performance for April 15, 2024, discusses the S&P 500's three-week decline, geopolitical tensions, and rising interest rates.

Model Portfolio Construction and Evaluation

| George Smith

SMN Research examines the advantages and pitfalls of different portfolio construction methods.

How Do Geopolitical Shocks Affect Stock Markets?

| George Smith

SMN Research details what the Middle East escalations could mean for stocks and how markets have reacted historically to geopolitical shocks.

Weekly Market Performance — April 12, 2024

| Adam Turnquist

SMN's Weekly Market Performance for the week of April 8, 2024, highlights market movements and economic data that shaped this week's financial landscape.

Assessing the Prospect for a Pullback

| Adam Turnquist

SMN Research highlights the technical setup for stocks and bonds, and explores historical market drawdowns.

Bond Market Continues to Price Out Rate Cuts

| Lawrence Gillum

SMN Research highlights the number of rate cuts the bond market is pricing in after the recent CPI report.

Seven Reasons to Like the Energy Sector

| Jeff Buchbinder

SMN Research examines prospects for the energy sector, listing seven reasons why investors may want to consider adding energy stocks to their portfolios.

Weekly Market Performance — April 5, 2024

| Jeff Buchbinder

SMN's Weekly Market Performance for the week of April 1, 2024, highlights market movements and economic data that shaped this week's financial landscape.

Can Pre-Election Market Trends Survive Attention?

| Kristian Kerr

SMN Research explores election year seasonality and whether the current pattern can survive all the attention. 

Recapping a Stellar First Quarter for Stocks

| Jeff Buchbinder

SMN Research highlights what has contributed and detracted from performance across asset classes and sectors in Q1 2024.

Market Breadth and Market Returns

| Adam Turnquist

SMN Research explores the importance of market breadth and its historical impact on market returns.

Can the Spring Melt Up Continue?

| Adam Turnquist

SMN Research explores seasonal trends for the S&P 500 as the index wraps up a strong month and first quarter.

Weekly Market Performance — March 28, 2024

| Adam Turnquist

SMN's Weekly Market Performance for the week of March 25, 2024, highlights five straight months of gains for the S&P 500, a weaker yen, and lower yields.

BOJ Promises Being Nimble

| Dr. Jeffrey Roach

SMN Research examines the implications of the latest Bank of Japan decision on the yen.

Event-Driven Investing — What to Watch in 2024

| Jina Yoon

SMN Research examines developments in the Event-Driven market and what to watch for in 2024.

Weekly Market Performance — March 22, 2024

| Jeff Buchbinder

SMN's Weekly Market Performance for the week of March 18, 2024, highlights rate hikes and an accommodative Fed that powers the equity market to new record highs.

The Story Hasn’t Changed for the Fed

| Dr. Jeffrey Roach

SMN Research examines the implications of the latest Federal Reserve decision regarding interest rate cuts.

Taking Some Large Growth Gains Off the Table

| Jeff Buchbinder

SMN Research discusses several reasons for the STAAC’s latest asset allocation change, reducing its large cap growth overweight in favor of small caps.

Weekly Market Performance — March 15, 2024

| Kristian Kerr

SMN's Weekly Market Performance for the week of March 11, 2024, highlights a new S&P 500 record close, earnings growth, and the energy sector outperforming.

Party Like It’s 1995

| Adam Turnquist

SMN Research explores record highs for the S&P 500, market drawdowns, and why this year shares some similarities with 1995.

Good News: Labor Costs Are Falling

| Dr. Jeffrey Roach

SMN Research examines the improving dynamics between labor costs and services inflation.

Strategic Asset Allocation: 3 to 5 Year Market Perspective

| George Smith

SMN Research discusses its updated Strategic Asset Allocation and Capital Market Assumptions.

Weekly Market Performance — March 8, 2024

SMN's Weekly Market Performance for the week of March 8, 2024 highlights a mid-week record for the S&P 500 Index, higher gold prices, and Federal Reserve News.

Who Do Markets Want to Win the Election?

| Adam Turnquist

SMN Research highlights election year seasonality and how the market is responding to probabilities for a Biden or Trump victory this fall.

Valuations Aren’t Great Timing Tools

| Jeff Buchbinder

SMN examines the relationship between stock valuations and forward returns and finds valuations are much better predictors of long-term stock performance.

Are “Magnificent Seven” Valuations Warranted?

| Jeff Buchbinder

SMN Research compares valuations for the mega cap growth stocks to the market.

Weekly Market Performance — March 1, 2024

SMN's Weekly Market Performance for the week of February 26, 2024, discusses another all-time high for the broad market and an up week for commodities as well.

Is Energy Due for a Rebound?

| Adam Turnquist

SMN Research highlights how an improving technical setup for energy stocks and oil point to a potential rebound in relative strength for the energy sector.

Is It Déjà Vu All Over Again?

| Kristian Kerr

SMN Research explores the parallels between the current stock market environment and that of the Nifty Fifty in the early 1970s.

Core Fixed Income: Down but Not Out

| Lawrence Gillum

SMN Research examines potential returns for core bonds following the recent shift in Federal Reserve rate cut expectations.

Weekly Market Performance — February 23, 2024

SMN's Weekly Market Performance for the week of February 19, 2024, highlights NVIDIA's strong earnings, a record high on the Nikkei, and a natural gas rally.

Is the Equal Weight S&P 500 About to Get Even?

| Adam Turnquist

SMN Research highlights the Equal Weight S&P 500 and how the technical setup suggests it could be ready to get even with its market-cap-weighted counterpart.

Keep Your Eye on Internationals

| Dr. Jeffrey Roach

SMN Research looks at the improving international inflation trajectory relative to the U.S.

Tactical Asset Allocation — Long Live the 60/40

| George Smith

SMN Research delves into positioning of its 60/40 MWP Tactical ETP model portfolio.

Weekly Market Performance — February 16, 2024

SMN's Weekly Market Performance for the week of February 12, 2024, highlights last month's inflation, rate cuts, and Treasury yields.

Interest Rates and Potential Impact on Equities

| Adam Turnquist

SMN Research highlights the technical setup for 10-year yields and what higher or lower rates could mean for equity markets.

Diverging Inflation Experience Between U.S. vs. EU

| Dr. Jeffrey Roach

SMN Research discusses the latest CPI report and its implications for investors, including the relative attractiveness of U.S. and international equities.

January 2024 Fund Flows Recap

| George Smith

SMN Research explores January 2024 fund flows data and investor sentiment across asset classes.

Weekly Market Performance — February 9, 2024

SMN's Weekly Market Performance for the week of February 5, 2024, highlights equity gains, rising Treasury yields, and the S&P 500 reaching a market milestone.

Three Charts — Could China be Close to a Bottom?

| Adam Turnquist

SMN Research digs into the technical setup for Chinese equity markets and highlights three charts showing why a bottom could be near.

How Could the Markets Surprise Us in 2024?

| Kristian Kerr

SMN Research looks at five ways the markets might surprise us in 2024.

Weekly Market Performance — February 2, 2024

SMN's Weekly Market Performance for the week of January 29, 2024, highlights continued equity gains, lower gas prices, and commercial real estate loan losses.

As Goes January, So Goes the Year

| Adam Turnquist

SMN Research explores how a positive January has historically been a good sign for stocks.

How Much More Can Consumers Spend?

| Dr. Jeffrey Roach

SMN Research studies the latest spending and jobs data and what it means for Federal Reserve monetary policy.

How Markets Regard Democratic Incumbents

| Jeff Buchbinder

SMN Research examines presidential cycles and how the market regards a Democratic president during a re-election year.

Weekly Market Performance — January 26, 2024

SMN's Weekly Market Performance for the week of January 22, 2024, highlights continued AI optimism, improving inflation expectations, and higher energy prices.

Semiconductors Lead Stocks Higher

| Adam Turnquist

SMN Research explores the technical setup for the semiconductor industry and what a new growth cycle could imply for future returns.

What to Expect Out of the Fed

| Dr. Jeffrey Roach

SMN Research looks at the implications from declining inflation expectations, growing construction activity, and the risk of weakening job growth.

The S&P 500 Ventures into Unchartered Territory

| Jeff Buchbinder

The S&P 500 has posted a new all-time high.SMN Research explores implications of the 512-day drought.

Years When Stocks Tracked 2023 Best and What Came Next

| Dr. Jeffrey Roach

SMN Research explores years that closely correlate to 2023 and their potential history lesson for the year ahead.

Weekly Market Performance — January 19, 2024

SMN's Weekly Market Performance for the week of January 15, 2024, highlights technology outperforming, sluggish commodities, and an uptick in housing starts.

Investor Confidence Wavers After Volatile Start to Year

| George Smith

SMN Research explores the latest investor sentiment survey data and what this could mean for stock market returns going forwards.

Online Sales Skyrocket As Consumers Keep Spending

| Dr. Jeffrey Roach

SMN Research looks at the latest retail sales numbers and what it might mean for the upcoming personal income and spending release and future Fed policy.

Technology Sector Enjoys Strong Earnings Momentum

| Jeff Buchbinder

SMN Research examines estimate revisions for the technology sector and highlights the strong earnings growth potential for the so-called “Magnificent Seven”.

December and 2023 Fund Flows Recap

| George Smith

SMN Research explores December and 2023 fund flows data across major asset classes.

Weekly Market Performance — January 12, 2024

SMN's Weekly Market Performance for the week of January 8, 2024, highlights the start of Q4 earnings season, December CPI, and European retail sales.

Record-High Watch for S&P 500 Remains in Effect

| Adam Turnquist

SMN Research highlights how long it has been since the S&P 500 reached record-high territory and what a close above 4,797 could mean for returns this year.

What Could Be in Store for Muni Investors in 2024?

| Lawrence Gillum

SMN Research looks at valuations for the municipal market and what could be in store for municipal investors in 2024.

Markets Focus on a Confusing Job Market

| Dr. Jeffrey Roach

SMN Research explores what the recent jobs report means for the Federal Reserve and markets.

The Laggards of 2022 Became Leaders in 2023

| Adam Turnquist

SMN Research explores the best and worst-performing S&P 500 sectors of 2023 and the likelihood for a convergence in performance this year.

Weekly Market Performance — January 5, 2024

SMN's Weekly Market Performance for the week of January 1, 2024, highlights the end of the market's nine-week winning streak, the FOMC minutes, and ISM data.

The Santa Claus Rally Ends on the Naughty List

| Adam Turnquist

SMN Research examines potential implications of the stock market decline during the Santa Claus Rally period.

What Will Stocks Do for an Encore in 2024?

| Jeff Buchbinder

SMN Research explores how the market has historically performed following outsized annual gains.

Weekly Market Performance — December 29, 2023

SMN's Weekly Market Performance for the week of Dec. 25, 2023, recaps a higher week for markets, a decline in natural gas prices, and a jump in home prices.

January Seasonality: Have Returns Pulled Forward?

| George Smith

SMN Research assesses stock market seasonals and what they could infer for stock market returns going forward.

Top-Heavy Doesn't Mean Market Top

| Adam Turnquist

SMN Research explores leadership concentration within the S&P 500 and how other top-heavy years have not historically been a precursor to a market top.

Investors Approaching Extreme Bullishness

| George Smith

SMN Research explores the latest investor sentiment survey data and what this could mean for stock market returns going forward.

Weekly Market Performance — December 22, 2023

SMN Research's Weekly Market Performance for the week of Dec. 18, 2023, highlights outflows of U.S. equities, December consumer confidence, and housing starts.

Will Santa Claus or the Grinch Show Up This Year?

| Adam Turnquist

SMN Research explores the Santa Claus Rally seasonal period and how it correlates with future equity market performance.

How Equity Factors Fared in 2023

| Jeff Buchbinder

SMN Research examines equity style factors that drove and lagged the market during a chaotic 2023.

Is This Time Truly Different?

| Dr. Jeffrey Roach

SMN Research looks at various charts unique to the current economic environment and what it means for the coming year.

The More Things Changed, the More They Stayed the Same

| Lawrence Gillum

SMN Financial Research looks at the current set-up for fixed income, which isn’t very different from what it was to start the year.

Dow Rallies to Record Highs

| Adam Turnquist

SMN Research explores the recent rally on the Dow Jones Industrial Average and how the index has historically performed after registering record highs.

Weekly Market Performance — December 15, 2023

SMN Research's Weekly Market Performance for the week of Dec. 11, 2023, recaps another strong week for equities, a rebound in oil, and the FOMC meeting.

November Fund Flows — Shift To Passive Continues

| George Smith

SMN Research explores November fund flows data and investor sentiment across asset classes.

Preparing for the Federal Reserve Pivot

| Dr. Jeffrey Roach

SMN Financial Research previews the Federal Reserve’s December policy meeting and discusses potential investment implications.

Outlook 2024: A Turning Point

In today’s article, LPL Research gives an overview of Outlook 2024. Their comprehensive report includes go-forward insights on markets and the economy.

Be Careful What (Fed Rate Cuts) You Wish For

| Jeff Buchbinder

SMN Research explores the relationship between stocks and the period between the Federal Reserve’s final rate hike and its first cut.

Weekly Market Performance–December 4, 2023

SMN Research recaps the week of Dec. 4, 2023, in equities, fixed income, commodities, economic data, and previews the economic calendar for the week ahead.

Overbought Conditions Meet Overhead Resistance

| Adam Turnquist

SMN Research explores the degree of overbought conditions in the market and potential implications for future equity market returns.

Presidential Cycle Still Supportive of Stocks

| Jeff Buchbinder

SMN Research discusses historical stock market performance in election years and what to expect in 2024.

Is There Any Income Left in Fixed Income?

| Lawrence Gillum

SMN Financial Research examines the still-favorable risk and return setup for fixed income after six straight months of negative returns.

Is the Santa Claus Rally Still Coming to Town?

| George Smith

SMN Research assesses stock market seasonals and what they could infer for stock market returns going forward.

Weekly Market Performance–November 27, 2023

SMN Research's Weekly Market Performance for the week of Nov. 27, 2023, recaps a strong finish for equities, continued bullish sentiment, and revised Q3 GDP.

Consumers Are Getting a Mixed Bag of Economic Data

| Dr. Jeffrey Roach

SMN Research takes a closer look at the mixed bag of spending and housing data and what it means for markets.

Who is Going to Buy Bonds? Pension Funds

| Lawrence Gillum

SMN Financial Research examines positive supply and demand technical analysis for the investment-grade corporate universe.