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Liberation Day: A Bullish Scenario

Liberation Day: A Bullish Scenario

By Michael Lebowitz and Lance Roberts | Apr 1, 2025 | Daily Market Commentary
Stocks are hitting the skids as April 2nd, or Liberation Day, quickly approaches. Investors are rightfully scared that tariffs announced on Liberation Day will be crippling to the ec...
Are Used Car Prices Set To Soar Again?

Are Used Car Prices Set To Soar Again?

By Michael Lebowitz and Lance Roberts | Mar 31, 2025 | Daily Market Commentary
It wasn’t that long ago that used car prices were soaring as the production of new cars was crimped due to Covid-related supply line shortages. Since then, used car prices have sta...
Auto Tariffs Impact Automakers Differently

Auto Tariffs Impact Automakers Differently

By Michael Lebowitz and Lance Roberts | Mar 28, 2025 | Daily Market Commentary
Despite what some may think, the impact of the new 25% auto tariffs will not necessarily benefit all US auto companies to the detriment of their foreign counterparts. For example, as...
The Wealth Dissipation Effect – RIA

The Wealth Dissipation Effect – RIA

By Michael Lebowitz and Lance Roberts | Mar 27, 2025 | Daily Market Commentary
Ben Bernanke popularized the wealth effect theory during the financial crisis in 2008. In his words, “higher stock prices will boost consumer wealth and help increase confidenc...
The Market Drawdown Is Perfectly Normal

The Market Drawdown Is Perfectly Normal

By Michael Lebowitz and Lance Roberts | Mar 26, 2025 | Daily Market Commentary
Given the fear as represented in investor surveys and various sentiment gauges a couple of weeks ago, one would think the recent market drawdown was significant. As a testimony to th...
UM Inflation Expectations May Oddly Signal Disinflation

UM Inflation Expectations May Oddly Signal Disinflation

By Michael Lebowitz and Lance Roberts | Mar 25, 2025 | Daily Market Commentary
The graph below, courtesy of Jeff Weniger, shows that since 1990, spikes in the University of Michigan (UM) consumer inflation expectation index to around 5% have preceded inflation...
The Key to Lower Inflation May Start with Stock Prices

The Key to Lower Inflation May Start with Stock Prices

By Michael Lebowitz and Lance Roberts | Mar 24, 2025 | Daily Market Commentary
The key to lower inflation may start with the stock market and feed into the economy rather than vice versa. The wealth effect describes the behavioral phenomenon where individualsâ€...
Retail Sales Are Better Than Advertised

Retail Sales Are Better Than Advertised

By Michael Lebowitz and Lance Roberts | Mar 21, 2025 | Daily Market Commentary
Within the headline retail sales figure is a lesser-followed data point called the retail sales control group. Following the trend of both figures is important because although the h...
The FOMC Shifts To A Dovish Tone

The FOMC Shifts To A Dovish Tone

By Michael Lebowitz and Lance Roberts | Mar 20, 2025 | Daily Market Commentary
As the market widely expected, the FOMC left the Fed Funds rate unchanged. However, the statement summarizing the meeting now includes an economic growth warning- “uncertainty a...
The Sentiment Bark Is Worse Than The Market’s Bite

The Sentiment Bark Is Worse Than The Market’s Bite

By Michael Lebowitz and Lance Roberts | Mar 19, 2025 | Daily Market Commentary
The old saying that the bark is worse than the bite is a good description of the current state of the stock market and investors’ sentiment. The following quote from a recent