Jodie Gunzberg
Former Managing Director, Head of U.S. Equities, S&P Dow Jones Indices
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Former Managing Director, Head of U.S. Equities, S&P Dow Jones Indices
After the hottest January in 30 years, the broad market rally continued with 38 of 42 segments of the U.S. equity market positive in February (as of Feb. 28, 2019.) After the Fed said it could take a break from rate hikes and it would be flexible with its balance sheet, and the market rallied,…
In the first seven trading days of 2019, the S&P 500 had its hottest start since 2003. That happened following the Fed’s message that it was in no hurry to raise interest rates. The Fed met again yesterday signaling it might end the interest rate increases, which pushed the S&P 500 up 1.55% for the day (Jan….
Style, the name for the value (growth) factor, is one of the oldest known investment factors. It can be defined in different ways, but in the S&P Composite 1500 that includes the S&P 500, S&P MidCap 400 and S&P SmallCap 600, style is measured by growth and value along two separate dimensions, with three factors used to…
Since the sector shakeup on Sep. 24, 2018, the S&P 500 fell 19.5% through the close of Dec. 24, 2018 then rebounded 12.2% by the close of Jan. 23, 2019 for a loss of 9.6% in the full period. The annualized volatility of 22.8% in the past 82 days has been the highest since the 82…
In the first seven trading days of 2019, the S&P 500 returned 3.6%, its 12th best start on record since 1928 and best since 2003. Also, the S&P MidCap 400 and S&P SmallCap 600 surpassed large caps by posting their best gains ever to start a year. Lastly, more than half the segments by sector, size…
The S&P 500 lost 9.2% in its second worst December on record – only behind December 1931 when the index lost 14.5%. However, the widespread losses across sectors, styles and sizes in the broad U.S. equity market was remarkable with every major segment down in December. Only 9 times in history has every segment of the…
As the year comes to a close with just two trading days left of the second worst December on record since 1931 for the S&P 500, it may be hard to remember the relatively calm rise before the volatile downturn took over. Though there is not an official bear market yet, there was a 19.8%…
The entire U.S, equity market lost on Monday, Dec. 17, 2018, meaning every one of the 42 segments by size, sector and style finished negative for the day. This was the second day in a row with losses across the board. From Oct. 10-11, 2018 was the last time two consecutive days with all losses…
In November, there was high market volatility in response to at least a few major events including the U.S. midterm elections, Brexit, G20 and Fed Chair Powell’s comments. The risk (measured by 30-day annualized volatility) on Nov. 30, 2018 for the S&P 500 was 20.6%, which is 3.5 times higher than its risk of 5.9%…
One of the main recent headlines has been the strength of the UK pound from the proposed Brexit transition. This brings into question how investors in the UK and Europe may possibly position themselves in the U.S. equity market. Notice in the past five days, the USD to GBP started from a high of 1.305…