NEWS & MEDIA

A rally in Big Tech stocks received most of the credit for driving global markets higher this week. But in the U.S., they couldn’t have done it without a little help from their friends.

As the S&P 500 SPX booked its best weekly advance since early January, one detail set this week apart: All 11 of the large-cap index’s sectors managed to finish in the green for the first time since November, according to Dow Jones Market Data. The S&P 500 managed to clinch its 13th record close of 2024 on Friday, even as information-technology stocks and other sectors associated with Big Tech finished the session in the red, according to FactSet data.

The thoughts and opinions expressed in the article are solely those of the person speaking as of 2/23/2024, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.

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The notion that the Federal Reserve will soon slow, or perhaps even end, its program of quantitative tightening is increasingly being talked about on Wall Street like a foregone conclusion.

But while investors wait to hear more on the subject from Fed Chair Jerome Powell during next week's post-meeting press conference, they could be forgiven for asking themselves some questions.

What might an imminent taper of the Fed's balance-sheet runoff look like? Why has it suddenly become so urgent? What might it mean for the six or so interest-rate cuts investors are expecting from the Fed this year, as well as for markets more broadly?

The thoughts and opinions expressed in the article are solely those of the person speaking as of 1/24/2024, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.

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The highflying technology stocks that drove much of the U.S. stock market's advance in 2023 are struggling so far in 2024, with the Nasdaq capping off its longest losing streak since late 2022 on Thursday.

Meanwhile, health-care stocks, utilities and energy stocks, which all finished 2023 in the red, have taken the lead this week, according to FactSet data.

But portfolio managers and investment strategists who spoke with MarketWatch said investors should not be worried about the Magnificent Seven, or the information technology, consumer discretionary and communications services sectors more broadly. At least not yet.

The thoughts and opinions expressed in the article are solely those of the person speaking as of 1/5/2024, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.

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U.S. stocks capped off a wild 2023 with a two-month sprint that has carried the Dow to record highs and the S&P 500 index to within a whisker of a similar milestone.

But after such a powerful advance, some portfolio managers and strategists are concerned that the market could suffer its own post-New Year's Eve hangover once the calendar turns to January 2024.

Instead of providing a tailwind for the market, several who spoke with MarketWatch worried that the "January effect" might work in reverse as investors scramble to lock in gains after the S&P 500 rose 24% in 2023, according to FactSet data.

The thoughts and opinions expressed in the article are solely those of the person speaking as of 12/31/2023, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.

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A resilient U.S. economy and cooling inflation fueled an intense year-end bond rally. Now, some suspect investors are too sanguine about the months ahead.

The rally marked the latest in a series of swings that sent the yield on the 10-year U.S. Treasury, which falls when bond prices rise, leaping and diving throughout the past 12 months. Fears of a prolonged stretch of higher interest rates repeatedly drove the yield to decade-plus highs, only for stress on the banking system and a Federal Reserve pivot to drag it down again.

The thoughts and opinions expressed in the article are solely those of the person speaking as of 12/1/2023, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.

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