Patrick O'Hare's Contributions

By Patrick O'Hare – A concise analysis of matters would indicate that the last 30 days has been a very good period for the stock market, which has featured record highs for the major indices, broad-based participation in the breakout to

Patrick O'Hare – The Federal Reserve's latest policy announcement has generated a lot of opinions about its implications for the capital markets. What it didn't generate is a lot of movement in the stock market.

By Patrick O'Hare – When thinking about how to start a market view update, it is often helpful to pick up where the last one left off. Alas, that is what we will do. In mid-June, we wrote that the stock market has continued to defy calls for...

By Patrick O'Hare – The bull market for stocks is more than eight years old now, which makes it the second-longest bull market since the end of World War II. There has been a lot of change in the last 8+ years, yet the one constant throughout...

Patrick O'Hare – Have you ever gone outside your comfort zone? It can be uncomfortable. Recently, I was taken outside my comfort zone as my fear of open heights and the presence of many roller coasters at a local amusement park collided.

By Patrick O'Hare – When President Trump was elected last November, the stock market threw a pro-growth party that resulted in a robust year-end rally for the major indices. Stock market participants were enthused by the prospect of reduced...

By Patrick O'Hare – Our offices are located on Michigan Avenue, otherwise known in colloquial terms as "The Magnificent Mile," which is paved with one retailer after the next. You can find Ulta; you can find Nike; you can find Gucci; you can find...

By Patrick O'Hare – With the release of the May Employment Situation Report, we learned that the U-3 unemployment rate fell to a 16-year low of 4.3%. We also learned that there was no wage growth. Average hourly earnings were up 2.5% year-over-year...

By Patrick O'Hare – Apple (AAPL), Alphabet (GOOG), Microsoft (MSFT), Amazon.com (AMZN), and Facebook (FB) — these five companies are the five largest companies in the S&P 500 based on market capitalization. In aggregate, their market value is $2.93 trillion!

It is often said that you have to earn your keep to make it in this world. Fortunately, there is an all-time, seasonally-adjusted high of 146,063,000 employees on nonfarm payrolls earning their keep. The unfortunate part is that their average...

The Trump administration released its tax reform plan... sort of. Actually, the administration released the "core principles" of a plan that is admittedly still being worked out, and from the sound of it, there is a lot of work left to be done.

When corporate spreads are narrowing relative to the risk-free rate, it suggests there is a view among market participants that the economic outlook is improving and, accordingly, that there is less risk of default.

Have you checked the forecast lately? It calls for a continuation of gray skies and cool temperatures across the country. What a bummer... and what a misdirection. We're not alluding to the weather forecast. Rather, we are alluding to...

There is no mistaking from the performance of the stock market that investor optimism is running high in terms of the economic outlook. That optimism stems from a variety of factors, the most prominent of which is the faith in the...

The start to 2017 has been almost as good as the start to 2016 was bad. It's an important distinction if only for the fact that "the turn" in the S&P 500 from its ugly start in 2016 started in mid-February when there were palpable concerns...

The fourth quarter earnings reporting period isn't over yet, but it is moving into the late innings with 71% of the S&P 500 having already reported their results. The returns thus far have been pretty much as expected. What that means is that the...

The new administration has made no bones about its dislike for past trade agreements, namely the North American Free Trade Agreement (NAFTA) and the Trans-Pacific Partnership (TPP). President Trump signed an executive order...

Bond king Bill Gross has suggested a break of 2.60% on the upside for the 10-year yield would mark the beginning of a secular bear bond market and would be "...the key to interest rate levels and perhaps stock price levels in 2017." The other bond king, Jeffrey Gundlach...

Inflation: Up and to the right... that's the description you want to hear about a chart of the stock you own. Why? Because it suggests the stock price is trending higher. That's a good thing and it will undoubtedly make you feel happy...

2016 is coming to an end and it's doing so with a proverbial bang. It is remarkable really considering 2016 started with a proverbial bust. What lays ahead for certain is unknown to all, yet the capital markets sure do have some...