Weekly Market Commentary

Cabana’s CEO Chadd Mason shares his unique perspective on the markets here and across the world every Monday.

Chadd Mason

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6 months ago

Dow Plunges as Coronavirus Spreads to South Korea, Iran and Italy: Market Commentary from Cabana’s CEO – February 24, 2020

As soon as we mentioned the first sign that the coronavirus was impacting earnings (Apple lowered forward guidance), the virus broke out of general containment in China and began rapidly spreading into South Korea, Iran and Italy. This news provided a significant psychological impetus over the weekend to sell risk assets in the belief that we… Read the full article.

6 months ago

Q4 Earnings Continue to Beat Expectations and Provide Investors with Hope: Market Commentary from Cabana’s CEO – February 11, 2020

U.S. corporate earnings continue to roll in beating expectations on both the revenue and sales side. The S&P 500 earnings growth rate remains at 8% annually, while year over year fourth quarter earnings saw an increase of 0.7% (according to FactSet). This is the first positive YOY quarterly growth in the S&P 500 since 2018…. Read the full article.

6 months ago

The Emotional Stock Market vs. the Wise Old Bond Market: Market Commentary from Cabana’s CEO – February 4, 2020

Last week, we discussed the coronavirus outbreak and implications it might have on markets going forward. I provided some statistics related to previous epidemics and the historical response to those by equity markets worldwide. That data is inconclusive at best. I ended the commentary by pointing out that this current medical crisis (like all worldwide events) does not… Read the full article.

8 months ago

Yet Again, the Market Focuses on What Matters —Interest Rates and Earnings: Market Commentary from Cabana’s CEO – December 9, 2019

After a rocky start to last week, U.S. equity markets rebounded and finished higher, led by Friday’s 1% bounce in the S&P 500. The employment number reported on Friday was exceptionally strong and is further evidence that economic growth can continue. This is frankly not surprising in that the stock rally over the past six… Read the full article.

8 months ago

December Looks a Little Different This Year: Market Commentary from Cabana’s CEO – December 2, 2019

Despite a shortened holiday week and some selling on Friday, markets finished out November with another weekly gain. I mentioned in my last commentary that November’s market performance has been impressive without exception. All major indices broke out to all-time highs after multiple failed attempts to clear resistance. Higher beta sectors took the lead in performance… Read the full article.

9 months ago

Money Rotation Continues to be Bullish: Market Commentary from Cabana’s CEO – November 11, 2019

This past week we saw major U.S. indices tread water at their all-time highs. Underneath the hood, money is rotating from low beta assets such as bonds, real estate, utilities and dividend payers, into cyclical assets like technology, transportation, energy and industrials. Financials continue to benefit from rising long-term interest rates and a steepening of the… Read the full article.

9 months ago

Market Commentary Follow Up – November 6, 2019

Our market commentary earlier this week touched on the internal rotation into risk assets that we’ve seen over the past month. In follow up, I have shared below a chart of performance within the various sectors of the broad U.S. equity market over the past 30 days. As you can see, money has rotated into… Read the full article.

9 months ago

The Fourth Quarter Rally We’ve Been Hoping For: Market Commentary from Cabana’s CEO – November 4, 2019

The S&P 500 and Nasdaq both closed last week at all-time highs. For the past several weeks we have noted improving conditions, which resulted in market participants reallocating to risk assets. Higher beta stocks like technology, small caps and emerging markets are outperforming defensive sectors like utilities, consumer  staples and real estate. Financials are getting a… Read the full article.