![]() ![]() We look forward to continued growth and success and wish you all the best in 2022. MSH also participated in numerous charity events and believes in giving back and supporting our community. ![]() In 2021, MSH received the Best Places to Work recognition by the Phoenix Business Journal. Throughout our growth, we strive to ensure our company culture stays strong and true. We had several additions to our dedicated and hard-working team in 2021 leading to our highest ever employee headcount. Our new office is fully renovated, designed to meet our needs with room for growth, and set up with the latest technology that helps provide an enjoyable and efficient working environment. 2021 was also our first full year in our new home office located in a company-owned building in north Scottsdale. In 2021, MSH recorded record revenue, posted record trading volumes, and recorded our highest investment banking revenue to date. ![]() We celebrate the success of our clients in their continued growth, which helped MSH achieve record growth as well. MSH is grateful for the continued support of our clients, partners, and employees that helped us achieve numerous milestones in 2021. That’s not the case this time around, (which is) an additional headwind for equities.As we look back at 2021, we have much to celebrate and be thankful for. “We think it’s important to note that typically when forward earnings growth goes negative, the Fed is actually cutting rates. Wilson and his team said they are now leaning more toward their bear case of $180 based on the margin degradation. EPS refers to net income divided by the number of shares outstanding, and could indicate how much money a company makes for each share of stock. ![]() Morgan Stanley’s 2023 base case forecast for S&P 500 earnings per share (EPS) is $195, while their bear case forecast is $180. See: The Fed and the stock market are on a collision course this week. That, coupled with the reality of the worst earnings recession since 2008, are “being mispriced once again, in our view,” said Wilson. So far, however, the Fed has yet to signal a willingness to hit the brakes and truly pivot to a more dovish stance. Traders now place a 98% probability of that size hike, according to the CME’s FedWatch tool. The central bank is widely expected to raise its target federal-funds rate by 25 basis points, to a range of 4.5% to 4.75%. Moreover, Wilson argued that investors seem to have forgotten the cardinal rule of “Don’t Fight the Fed.” He said the upcoming FOMC meeting, which concludes on Wednesday, will serve as a reminder. If you’re not nervous, you should be, this global strategist warns. See: It’s a key week for the stock market. The S&P 500 ended 52 points lower, or 1.3%, to 4,018 on Monday. Morgan Stanley’s strategists warned at the start of the year that a recession shock in 2023 could drive another 22% drop for stocks, and they expected the large-cap index to finish the year at 3,900. Other possible explanations include “window dressing,” a practice performed by institutional investors to buy more shares of top-performing stocks by the end of the year to improve the appearance of their fund’s performance before presenting it to shareholders.Īnother is investor sentiment, with investors tending to be more optimistic about the future as a new year begins. Theoretically, investors could use those funds to rebuy new positions in January, which can contribute to the monthly rally. The “January Effect” is a seasonal tendency for small-cap stocks to rally in the month following December’s tax-loss harvesting in generally illiquid equities. See: What stock-market investors need to know about the ‘January Indicator Trifecta’ It is “just another bear-market trap” and “all the good news is now priced,” which means “the reality is likely to return with month-end, and the Fed’s resolve to tame inflation,” they wrote in a Monday note. However, Wilson and his team were surprised by the magnitude of the recent advance. Up 8.9% on the month as of Monday, on track for its best January performance since it notched a 12.2% gain in 2001, according to Dow Jones Market Data. Tech stocks were having their best January in decades, with the Nasdaq Composite Was up 4.6% in the first four weeks of January, while the Dow Jones Industrial AverageĪdvanced 1.7%. January started on a high note for stock-market investors, with three major equity indexes on pace to book strong monthly gains. ![]()
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