Why do companies do stock splits if there is no change in value? A lower share price is more accessible to a broader base of investors and could increase liquidity by having more market participants able to buy and sell the stock. Also, there’s a psychological component.

Why is the labor participation rate in decline? We are getting old (not ugly). The Baby Boomer generation is exiting the workforce faster than younger workers are entering the workforce.

Apple’s increase in value alone is larger than 444 of the 500 companies within the S&P 500. The 10th largest publicly traded company in the U.S. is Procter and Gamble (P&G); they employ 97,000 people and have been in business for over 180 years.

A well-diversified portfolio is not reliant on any single asset class or factor for success. Diversification can seem sleepy at times, however, when markets diverge, the benefits sometimes shine.

With expectations set, markets will react to actual earnings vs. what was expected, as well as forward guidance. Forward guidance announcements provided by companies can impact stock prices and even offset a good (or bad) actual results figure.

Corporate earnings season is underway, a time when companies announce prior quarter results and provide forward guidance and expectations

The short period during which the U.S. stock market went into a bear market decline of -34%, bottomed, and then advanced +39% has been remarkable. The stock market decline was matched by a rapid change in the economy, contracting into a recessionary environment with record unemployment figures.

This quarter, the number of guidance announcements to date is about half of the typical amount. This lack of guidance means there are more “assumptions” being made on where earnings will land, which financial markets dislike, and can ultimately lead to an increase in volatility.