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Mixed week last week. Market is still looking to go higher on earnings

by Fortem Financial May 7, 2018

Stocks were mixed last week; the Nasdaq and Russell 2000® Index of small companies posted gains for the week while the Dow Jones Industrial Average, S&P 500® Index, and Russell Midcap® Index declined slightly.  Earnings continued to dominate headlines (more on this below) although impressive corporate results have not yet led to broad-based gains.  Still, the relative outperformance of small cap stocks may indicate a growing preference for riskier assets; historically, this area has ra… View More

Is the Party over for growth? We don’t think so.

by Fortem Financial April 30, 2018

Our call,  going a little against the grain, is that we may be closer to the middle of the economic cycle than the end and that the effects of the tax cut and fiscal stimulus will extend the cycle further than most think possible.  The ability to fully deduct capital expenditures for the next 5 years and the shift to a territorial tax system that frees up trillions of dollars in unrepatriated profits, provides major incentives for companies to invest in their own businesses. As a result, this… View More

Higher growth expectations should keep the bull market moving forward

by Fortem Financial April 23, 2018

1Q earnings are in full swing and growth expectations heading into the reporting period increased from 12.2% on December 31st to 18.5% currently. Normally, expectations get whittled down during the quarter and then earnings post a modest surprise off depressed expectations. With the earnings preannouncement ratio exceptionally low, stocks may be priced for perfection. However, earnings growth is expected to accelerate even further in the coming quarters as companies report better top-line grow… View More

Earnings Season Finally Begins for Q1

by Fortem Financial April 17, 2018

Markets rebounded this week as trade tensions eased.  China’s President Xi Jinping’s speech this week at the Boao Forum reiterated past promises to increase imports, reduce import duties on automobiles, expand access to the country’s financial sector, and enforce intellectual property rights for foreign firms.  Investors also responded positively to the prospect of a negotiated resolution to the tariff dispute; reports revealed that the U.S. and China had engaged in (unsuccessful) trade … View More

Trade Wars... or Not?

by Fortem Financial April 10, 2018

With all the talk about China, we wanted to share the attached article from Reuters. Since the first mention of tariffs, we've said that we DO NOT believe we will end up in a full blown trade war with China. It would not be in China's or our best interest.  We've also cited multiple examples of both sides rolling their threats back after they were made. Below, we've included an article that again reiterates to us that much of what we're seeing may simply be posturing. Trump wants to appear st… View More

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Our policy about obtaining and disclosing non-public personal information may change from time to time. We will provide you notice of any material change to this policy before we implement the change.

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