Probity Advisors, Inc.

Probity Advisors, Inc. Week in Review, May 3, 2024

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Markets Cheer Dovish Fed and Strong Earnings - Probity Advisors, Inc. May 3, 2024 Here are the economic and market highlights for the week: The Federal Reserve announced it would hold rates steady at a range of 5.25% to 5.50% citing a “lack of further progress” in bringing inflation back down toward its 2.00% goal. Recent data has signaled a reacceleration in infl...

Probity Advisors, Inc. Week in Review, April 26, 2024

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Probity Advisors, Inc. Week in Review, April 19th, 2024

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Higher for Longer - Probity Advisors, Inc. April 19, 2024 Here are the economic and market highlights for the week: Retail sales jumped 0.70% in March, topping estimates for a 0.30% rise. Excluding autos, retail sales were up a robust 1.10%. Online and miscellaneous store sales drove much of the increase, up 2.70% and 2.10%, respectively. Ex...

Probity Advisors, Inc. Week in Review, April 12, 2024

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Probity Advisors, Inc. Week in Review, April 5, 2024

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Stocks Move Lower as Investors Check Their Rate Expectations - Probity Advisors, Inc. April 5, 2024 The second quarter got off to a volatile start as bond yields spiked and traders lowered their expectations over the number and timing of Fed rate cuts. Several Fed speakers this week pushed back on the idea that rate cuts are imminent, causing both the equity and bond markets to fall....

Probity Advisors, Inc. Week in Review, March 22, 2024

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Stocks Dance to Record Highs - Probity Advisors, Inc. March 22nd, 2024 Stocks received a solid assist this week from Federal Reserve Chair Jerome Powell, helping markets break new highs. Following the conclusion of the Federal Open Market Committee (FOMC) meeting on Wednesday, Powell eased investors’ concerns over whether the uptick in recent inflati...

Probity Advisors, Inc. Week in Review, March 8, 2024

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Stocks Finish Lower Despite Intraweek Record Highs - Probity Advisors, Inc. March 8th, 2024 Equity markets lost steam for the week despite the S&P 500 and Nasdaq Composite Index reaching new all-time highs on Thursday. While the major indices lost between -0.25% and -1.17% on the week, bullishness has started to broaden away from strictly domestic large cap and tech stocks...

Probity Advisors, Inc. Week in Review, March 1, 2024

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Red Hot February for Stocks - Probity Advisors, Inc. March 1st, 2024 The stock market rallied once again this week to close out the best February for the S&P 500 and Nasdaq Composite in nearly a decade. The S&P 500 scored its third record high of the month on Thursday. The gains were not just AI related as all eleven S&P 500 sectors traded...

Probity Advisors, Inc. Week in Review, Tech Titan Nvidia Powers Markets to New High, February 23, 2024

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Tech Titan Nvidia Powers Markets to New High - Probity Advisors, Inc. February 23, 2024 Nvidia, anointed the third largest stock on the planet by investors, helped power the S&P 500 to a new record high on Thursday. The tech titan lived up to their earnings hype and then some, posting a whopping 265% year-over-year rise in revenue driven by its booming AI business. Th...

Probity Advisors, Inc. Week in Review, Market Milestone: S&P 500 Tops 5,000, February 9, 2024

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Market Milestone: S&P 500 Tops 5,000 - Probity Advisors, Inc. February 9, 2024 For the first time since its inception in 1923, the S&P 500 closed above the 5,000 level on Friday. The index had flirted with the milestone on Thursday, hitting an intraday high of 5,000.40 before ending the trading session slightly below the level. The record initially looked like...

Probity Advisors, Inc. Week in Review, Phil and Investors Predict an Early Spring, February 2nd, 2024

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Phil and Investors Predict an Early Spring - Probity Advisors, Inc. February 2, 2024 The Dow Jones Industrial Average posted a fresh record on Friday, managing to recover from Wednesday’s sell-off following the FOMC meeting. As expected, the Federal Reserve voted to hold interest rates steady at its current range of 5.25% to 5.50%, but the official statement follo...

Economy Keeps Dealing Aces, Probity Advisors, Inc. Week in Review, January 26, 2024

Economy Keeps Dealing Aces - Probity Advisors, Inc. January 26th, 2024 It was another winning week on Wall Street with the S&P 500 notching another record high and the Dow Jones Industrial Average closing above 38,000 for the first time ever. A better than expected Q4 GDP report combined with slowing inflation and strong earnings results fueled equit...

Probity Advisors, Inc. Week in Review, Higher Rates Weigh on Equities, August 18th, 2023

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Higher Rates Weigh on Equities - Probity Advisors, Inc. August 18th, 2023 It was a busy week for investors as they digested a number of market-moving headlines. Ratings agencies remained in the spotlight with Fitch, once again, taking center stage. On Tuesday, the ratings firm announced it was considering a broad downgrade of the banking sector over conc...

Probity Advisors, Inc. Week in Review, Moody Market, August 11th, 2023

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Moody Market - Probity Advisors, Inc. August 11th, 2023 It is not often one gets to use a rating agency pun for a headline two weeks in a row, but here you have it. This week it was Moody’s who made news by downgrading the U.S. regional banking sector. On Tuesday, the credit agency explicitly downgraded 10 banks while placing another....

Probity Advisors, Inc. Week in Review, “Fitch, Please!”
August 4th, 2023

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Fitch, Please! - Probity Advisors, Inc. August 4th, 2023 Credit ratings agency Fitch stopped market bulls’ push for a fourth consecutive winning week for the Dow Jones Industrial Average. Fitch is one of the top three credit rating agencies internationally along with Moody’s and Standard and Poor’s. On Tuesday, the firm downgraded t...

Probity Advisors, Inc. Week in Review, Dow Brushes Off Rate Hike but Falls Short of the Record Books, July 28th, 2023

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Dow Brushes Off Rate Hike but Falls Short of the Record Books - Probity Advisors, Inc. July 28th, 2023 The Dow had the longest, daily winning streak record in its sights but ultimately fell just short following Wednesday’s rate announcement by the Fed. While the Dow failed to match the 14-day record set in 1897 – just a year after the index had been created with an initial 12 stoc...

Probity Advisors, Inc. Week in Review, Stocks Fall on Dueling Job Market Reports, July 21st, 2023

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Probity Advisors, Inc. Week in Review, From “Oh, No!” to “FOMO,” July 14th, 2023

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Probity Advisors, Inc. Week in Review, Stocks Fall on Dueling Job Market Reports, July 7th, 2023

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Stocks Fall on Dueling Job Market Reports - Probity Advisors, Inc. July 7th, 2023 Stocks slipped during a 4th of July shortened trading week. Jobs were this week’s focus, where the strength of Thursday’s ADP jobs report jolted markets on concerns the Fed will be forced to be more aggressive in order to tame hiring demand and cool economic growth. Of particular ...

Probity Advisors, Inc. Week in Review, Bulls’ Rally Stalls on Fedspeak, June 23rd, 2023

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Probity Advisors, Inc. Week in Review, S&P Enters New Bull Market, June 9th, 2023

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S&P Enters New Bull Market - Probity Advisors, Inc. June 9th, 2023 Stocks built on their rally this week, notching a new S&P 500 high for 2023 and topping 4,300 for the first time since August. The move higher came on a quiet week for economic news following last week’s debt ceiling standoff. Investors saw positives in a softer than expected ISM Se...

Probity Advisors, Inc. Week in Review, Strong Data Launches Markets Higher, June 2nd, 2023

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Strong Data Launches Markets Higher - Probity Advisors, Inc. June 2nd, 2023 Markets rallied this week as the President and Congress managed to strike a deal to raise the debt ceiling and as May nonfarm payrolls crushed analyst estimates. After weeks of political wrangling, Biden and McCarthy agreed on terms to lift the government’s $31.4 trillion debt ceili...

Probity Advisors, Inc. Week in Review, Stronger Data Bodes Well for Second Half Recovery, May 19th, 2023
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Stronger Data Bodes Well for Second Half Recovery - Probity Advisors, Inc. May 19th, 2023 Stocks notched a winning week as economic data continued to shine in spite of a last minute halt to debt ceiling negotiations. Despite still elevated prices and high borrowing costs, consumers were back to spending once again. April retail sales posted their first positive month-to-mo...

Probity Advisors, Inc. Week in Review, Markets Drift Lower While Debt Ceiling Theatrics Wait in the Wings, and Addressing Cybersecurity Threats to Protect Client Data, May 12th, 2023

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Markets Drift Lower While Debt Ceiling Theatrics Wait in the Wings - Probity Advisors, Inc. May 12th, 2023 Markets Drift Lower While Debt Ceiling Theatrics Wait in Wings Below is a summary of the news and events driving the market and the economy over this past week. Regional Banks Continue to Unnerve Markets: Stocks struggled to move higher for the second consecutive week as investors wei...

Probity Advisors, Inc. Week in Review, Fed Sticks to Script, May 5th, 2023

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Fed Sticks to Script - Probity Advisors, Inc. May 5th, 2023 The Dow Jones Industrial Average rallied 500+ points on Friday on better-than-expected results from tech juggernaut Apple and as regional bank shares climbed off their recent lows. Despite the move, the Dow still came up short for the week, down -1.24%. Friday’s rally failed to make ...

Probity Advisors, Inc. Week in Review, Better Than Expected Earnings Power Indices Higher, April 28th, 2023

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Better Than Expected Earnings Power Indices Higher - Probity Advisors, Inc. April 28th, 2023 Below are this week’s highlights and key indicators: Stronger than expected corporate earnings from big tech giants Microsoft and Meta Platforms powered the major indices higher this week. The Dow Jones Industrial Average rose 2.48%, while the S&P 500 climbed 1.46%. Their results ...

Probity Advisors, Inc. Week in Review, Balanced Readings Result in Quiet Week, April 21st, 2023

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Balanced Readings Result in Quiet Week - Probity Advisors, Inc. April 21st, 2023 Stocks closed out the week not much changed with the S&P 500 finishing relatively flat. Trading was listless with investors having little else to focus on other than earnings. As of Friday, 88 of the S&P 500 companies had reported, of which 76% managed to beat analyst estimates. It....

Probity Advisors, Inc. Week in Review, Cooler Data Not Enough for Pivot, April 14th, 2023

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Cooler Data Not Enough For Pivot - Probity Advisors, Inc. April 14th, 2023 Equities posted another winning week as signs of slowing economic growth fanned investors’ hopes that the Federal Reserve could soon conclude its rate tightening campaign. Last week’s jobs report showed a steadying jobs market with 236K added to the payrolls in March, down from ...

Probity Advisors, Inc. Week in Review, March Madness Not Just for Basketball This Year, March 31st, 2023,

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March Madness Not Just for Basketball This Year - Probity Advisors, Inc. March 31st, 2023 Q1 2023 is now in the books, having handed investors a solid 7.03% gain in the S&P 500. The quarter’s gains were particularly impressive given that the market had to overcome a mid-quarter selloff, sparked by rising inflationary pressures and banking contagion fears following Sili...

Probity Advisors, Inc. Week in Review, S&P 500 Posts Second Consecutive Winning Week, March 24th, 2023

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S&P 500 Posts Second Consecutive Winning Week - Probity Advisors, Inc. March 24th, 2023 Equity markets maintained their footing this week as regulators and global central banks took assertive measures to prevent last week’s banking failures from spiraling into a broader financial contagion. The Federal Reserve and the world’s five major global central banks spent t...