Good Afternoon,
I hope everyone had a great weekend. This is one of my favorite weeks of the year with plenty of family, friends, food, and football! For those of you so inclined, I published a Thanksgiving themed message on our website. Click the link and find “Thanksgiving 2025”.
Markets finished Friday on a high note after a busy and volatile week for stocks. The narrative shifted widely from Nvidia’s strong earnings report, mixed takeaways from the September payrolls report, and rate cut probabilities for December. I think the enormous levels of AI spend we have seen were supported by Nvidia’s report though questions remain on how sustainable this is. Interestingly, Bitcoin is becoming more of a market barometer for risk among many algorithmic trading models. Tomorrow we get delayed (September) retail sales and producer price (PPI) data. Unless we see an outsized rise in prices, I continue to think we will get another 0.25% rate cut on December 10th. There is talk of a possible Russia/Ukraine deal that could be agreed upon later this week. More clarity on a rate cut and/or a deal to end the Russia conflict, should push stocks higher. This market remains one where I favor higher quality, cash flow positive companies. Please continue to reach out with questions.
Attached, please find this week’s Market Strategy Radar Screen Report from John Stoltzfus, Chief Investment Strategist of Oppenheimer Asset Management.
I would like to give a sincere, “Thank You” to each of you for the trust and confidence you place in me and my team. It truly is humbling and something we strive to earn daily.
Have a Happy & Safe Thanksgiving!
(Our offices and the stock market will be closed Thanksgiving and open until 1PM on the 28th.)