In the 2020 Stock Market, Group Performance Varies Widely

By Tom Burnett CFA Investors are well of the bumpy road experienced by the main stock market indexes so far in 2020. Using data supplied by the May 5, 2020, “Wall Street Journal”, it is apparent that not all industry or Index groups have performed in a similar fashion. Market events thus far in 2020…

By Tom Burnett CFA On April 29, 2020, the Department of Commerce released its “advance notice” estimate of the nation’s annual rate of GDP growth for the first quarter of the 2020 year. The estimate came in at a negative annual rate of 4.8%, much greater than initial analyst estimates. The rate…

Kelleher Financial Advisors 1st Quarter 2020 Newsletter

By Tom Burnett CFA The latest FACTSET earnings summary forecast for the S/P 500 Index continues to reflect reduced expectations for 2020. The negative impact of the economic standstill resulting from the COVID-19 virus outbreak is beginning to show up directly in the consensus analyst surveys and forecasts…

By Tom Burnett CFA On April 14, 2020, two large banks (Wells Fargo, JP Morgan) opened the first quarter earnings reporting season. As expected, the results were dismal. Wells Fargo reported net income of $653 million, down sharply from the $5.9 billion reported in the first quarter of 2019. During the…