Major U.S. equity indices put in a mixed performance last week, with the headline indices masking weakness beneath the surface. The S&P 500 eked out a 0.13% gain, while the Nasdaq Composite declined slightly, finishing lower by 0.08% for the week.

Stocks continued to rally last week in the face of rising oil prices and higher Treasury yields. The S&P 500 and Nasdaq both logged their fifth straight weekly gain, while the Russell 2000 recorded its sixth consecutive weekly advance.

Major U.S. equity indices were sharply higher last week driven by headlines about a possible nuclear deal between the United States and Iran and a reopening of the Strait of Hormuz. The S&P 500, Nasdaq, and Russell 2000 each logged fresh all-time…

Over the past several quarters we have written extensively about concentration, valuation, and the risks of a market being driven by a single narrative. Those themes have not changed.

U.S. equity markets remained under pressure last week as geopolitical uncertainty and heightened market volatility acted as significant headwinds for risk sentiment. Rather than a singular, dramatic selloff, the price action was characterized by a grinding series of lower lows, particularly in…

Financial markets entered February with a backdrop that, at least on the surface, appeared relatively stable. Major U.S. indices moved modestly during the month, but the headline figures masked a market environment defined by sharp dispersion beneath the surface.

Major U.S. equity indices pulled back last week, extending the recent loss of momentum as a historic spike in energy prices collided with a surprise contraction in the labor market. The S&P 500 fell 2.02%, posting its worst weekly performance since October.

Major U.S. equity indices pulled back last week, extending recent losing streaks. The S&P 500 fell for a second straight week, the Nasdaq Composite slid for a fifth straight week, and the small-cap Russell 2000 posted its third decline in the past…

January opened the year with equity markets extending the constructive tone that has defined much of the post-Liberation Day environment. Major indices finished solidly higher for the month, with the S&P 500 gaining 1.37%, and the Nasdaq rising 0.95%.

U.S. equities rallied in January. The S&P 500 closed higher by 1.37%, posting its best month since October and ticking above 7,000 for the first time ever. The Nasdaq snapped a two-month losing streak, finishing the month higher by 0.95%, but was…

Over the past few editions of The TANDEM Report, as well as within our other commentary pieces, we’ve spent a lot of time discussing the narrow focus of the S&P 500. This concern persisted throughout the fourth quarter as well.

December capped a year in which U.S. equities delivered strong absolute returns but increasingly narrow leadership beneath the surface. Major indices finished the month modestly lower, with the S&P 500 snapping a seven-month winning streak and slipping 0.05%, the Nasdaq falling 0.53%,…