June 22, 2026
Notes from the Trading Desk
U.S. equities clawed back ground last week in a holiday-shortened trading week (markets were closed Friday for Juneteenth). The S&P 500 added 0.93% for the week to close at 7,500, while the Nasdaq 100 rose 2.60% and the small-cap Russell 2000 gained...
By: Jordan Watson, CFA, CMT
June 8, 2026
Notes from the Trading Desk
The S&P 500 snapped its winning streak last week after nine consecutive weeks of gains that helped launch the index from its March lows. A hawkish repricing in Fed expectations and a selloff in the technology and semiconductor space dragged major U.S....
By: Jordan Watson, CFA, CMT
May 18, 2026
Notes from the Trading Desk
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.
By: Jordan Watson, CFA, CMT
May 4, 2026
Notes from the Trading Desk
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.
By: Jordan Watson, CFA, CMT
April 20, 2026
Notes from the Trading Desk
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...
By: Jordan Watson, CFA, CMT
March 30, 2026
Notes from the Trading Desk
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...
By: Jordan Watson, CFA, CMT
March 9, 2026
Notes from the Trading Desk
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.
By: Jordan Watson, CFA, CMT
February 17, 2026
Notes from the Trading Desk
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...
By: Jordan Watson, CFA, CMT
February 4, 2026
Notes from the Trading Desk
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...
By: Jordan Watson, CFA, CMT
January 6, 2026
Notes from the Trading Desk
Santa Claus skipped Wall Street again this year! Last week’s holiday-shortened trading week saw very light volumes as the major U.S. equity indices drifted lower.
By: Jordan Watson, CFA, CMT
December 15, 2025
Notes from the Trading Desk
Major U.S. equity indices delivered mixed results last week, driven by the continuation of the recent rotation in stocks. The S&P 500 and the tech-heavy Nasdaq ended the week in negative territory, declining 0.63% and 1.62%, respectively.
By: Jordan Watson, CFA, CMT
December 1, 2025
Notes from the Trading Desk
Last week's holiday-shortened trading saw U.S. stocks close in the green, with the major indices logging five consecutive sessions of gains to finish out the month. Increased odds of a December interest rate cut from the Federal Reserve helped to bolster risk...
By: Jordan Watson, CFA, CMT