The All-Powerful Powell

The second quarter of 2020 was all about optimism. After initial fears about the consequences of COVID-19, we began to find our footing in the new world. We learned to do most activities (with air travel and mass public events the obvious exceptions) differently, which gave us the optimism to…

The “Move On” Phase

Market Update The equity market recovery that began in late March picked up steam throughout the second quarter. The S&P 500 Index jumped 20.5%, its biggest quarterly gain since the fourth quarter of 1998. Given extremely depressed investor sentiment, as well as anticipation of massive declines in economic activity, it…

Charlie’s Finance Articles May 2020

Here are Fort Pitt Capital Group’s finance articles for May 2020: We start off with the Bloomberg article, “Wall Street mines Apple and Google mobility data to spot revival.” COVID-19 is like no other shock to the markets, so most investors are discounting traditional indicators of a recovery and getting…

The Fed’s in waiting mode

With a third of the year over already, much of the market volatility encountered in late 2018 is fading in the rear-view mirror. While the China trade dispute has reemerged recently as a top risk for investors, markets are still generally positive for 2019. Brexit and uncertainty about future Fed…

The stock market sees its shadow

Commentators often call a decline in stock prices after a sustained rise a “correction,” as if the previous rise was somehow an error. Normally, we refrain from such nomenclature, because no one knows what drives share prices in the short run. But in the case of recent declines in U.S.…

Tip of the month: What to know about robo advisors

Skim any financial services news outlet and you’ll find coverage regarding “robo” advisors. Technology obviously plays an ever-greater role in virtually every industry, and financial services is no different. Investopedia defines robo advisors as “online wealth management services that provide automated, algorithm-based portfolio management advice without the use of human financial planners.” At Fort Pitt,…

Trump takes over

On January 20, Donald J. Trump became the 45th President of the United States, and we’re all wondering what “The World According to Trump” will look like. Given his penchant for late-night Twitter eruptions and policy head fakes, no one knows if the President-elect is serious about bringing fundamental change…