SlavkoSereda/iStock via Getty Images They’re back. The intrepid dip-buyers, that is. Last week and the week before that, the market staged an impressive comeback from what looked like a formal correction, or even worse. But it wasn’t meant to be, as the Bulls pushed the sellers aside and bid up prices to within a whisker of the starting point in 2026. The Mag 7 is back, too. Foreign markets contin...
SlavkoSereda/iStock via Getty Images They’re back. The intrepid dip-buyers, that is. Last week and the week before that, the market staged an impressive comeback from what looked like a formal correction, or even worse. But it wasn’t meant to be, as the Bulls pushed the sellers aside and bid up prices to within a whisker of the starting point in 2026. The Mag 7 is back, too. Foreign markets continue to outperform the USA, and small caps are doing well. I’ll dig into the rotations and the money flows so we can figure out what’s what. Bad inflation report, weakening jobs market, shooting war in the Middle East? The market doesn’t seem to care. Let’s find out why. S&P 500 Last 4 Weeks Monday and Tuesday weren’t much, but Wednesday we moved noticeably higher on the ceasefire deal talk. And that’s all that it is—talk. We had a decent follow-through the next day—Thursday—and on Friday the bulls coasted through a flat day in the market. As usual, flat doesn’t mean that everything was flat. It means that some things were up big, and some were down big. That’s what we’re looking for. S&P 500 last 4 weeks (Zen Investor) Zoom Out to 12 Months We finished March with a decline of 5.1%, and since the war in Iran started, it’s been all green. Forget what I’ve been telling you from day one—that the combo of inflation rising and GDP slowing is deadly for equities. Apparently, that was a different world and a different market. In the new market we’re in today, the billionaires (and there are a lot of them) run the stock market. They will continue to levitate the S&P 500 until they decide it’s time to take some chips off the table. And then, down she goes. S&P 500 returns (Author compilation) S&P 500 Drawdowns This chart really shows how strong the last 2 weeks have been. Whether it will keep going next week depends on how the big money feels about the strait being closed while peace talks are starting. It seems to me that something has to give there. S&P 500 drawdowns (Author compila...
The order comes as the Trump administration challenges a lower court ruling that the estimated $300-million project requires congressional approval. (Image credit: Rod Lamkey)
The order comes as the Trump administration challenges a lower court ruling that the estimated $300-million project requires congressional approval. (Image credit: Rod Lamkey)
krblokhin/iStock Editorial via Getty Images Shares of PulteGroup ( PHM ) have been a strong performer over the past year, gaining about 28%. However, shares are down over 15% from their highs as concerns have mounted in recent months that a rebound in the US housing market may not come in 2026 after all. Affordability challenges combined with mortgage rates reversing a bit higher have dampened sen...
krblokhin/iStock Editorial via Getty Images Shares of PulteGroup ( PHM ) have been a strong performer over the past year, gaining about 28%. However, shares are down over 15% from their highs as concerns have mounted in recent months that a rebound in the US housing market may not come in 2026 after all. Affordability challenges combined with mortgage rates reversing a bit higher have dampened sentiment, and other builders like Lennar ( LEN ) have struggled to maintain margins. I last covered Pulte in July , upgrading shares to a “buy,” and the stock is essentially flat since then. With updated financials and an ever-changing macro outlook, now is a good time to revisit shares. Seeking Alpha The US housing market has been in a slump over the past ~2+ years as elevated rates and home prices have made it difficult for many first-time buyers to afford homes while “trapping” those with low-rate mortgages in their existing homes, limiting trade-up activity. There was hope 3-6 months ago that there would be incremental improvement in 2026 as interest rates fell, but frankly, this no longer appears to be the case. As you can see below, 30-year mortgage rates fell considerably during 2025, hitting the key 6% level earlier this year. I have viewed 5.5-6% as the key level to bring in new buyers and help restore volumes and some pricing power to the market. However, with long-term rates having risen since the start of the Iran War, we are back over 6.25%. The timing of this move could not be worse. The housing market is dependent on a strong spring selling season. This tick-up in rates, combined with some softening in the labor market, has greatly dampened prospects for a strong spring. St. Louis Federal Reserve As such, I expect home prices and volumes to be weaker again in 2026 vs. 2025, and I see scope for an up to 3% price decline (this does not assume a broader recession). Ultimately, for mortgage rates to be below 6% sustainably, we need to see the 10-year treasury below...
Nvidia (NASDAQ: NVDA) and Broadcom (NASDAQ: AVGO) are two of the top AI computing companies to invest in right now. Each of their stocks has done incredibly well over the past few years, with Nvidia up 36% since the start of 2025 and Broadcom up over 50%. Each stock has risen so much over the past few years that investors may question whether there are any future returns left in the tank. I still ...
Nvidia (NASDAQ: NVDA) and Broadcom (NASDAQ: AVGO) are two of the top AI computing companies to invest in right now. Each of their stocks has done incredibly well over the past few years, with Nvidia up 36% since the start of 2025 and Broadcom up over 50%. Each stock has risen so much over the past few years that investors may question whether there are any future returns left in the tank. I still think there is plenty to go for these two, but let's take a look at what history says to determine if they are still solid buys right now. Image source: Getty Images. Continue reading
EschCollection/DigitalVision via Getty Images It was a week befitting the CBB theme for 2026: Expect the Unbelievable. And what a difference a few hours can make: The President's "a whole civilization will die tonight, never to be brought back again," as the vice president campaigned in Budapest for Viktor Orban - to "I agree to suspend the bombing and attack of Iran for a period of two weeks… We ...
EschCollection/DigitalVision via Getty Images It was a week befitting the CBB theme for 2026: Expect the Unbelievable. And what a difference a few hours can make: The President's "a whole civilization will die tonight, never to be brought back again," as the vice president campaigned in Budapest for Viktor Orban - to "I agree to suspend the bombing and attack of Iran for a period of two weeks… We received a 10-point proposal from Iran, and believe it is a workable basis on which to negotiate. Almost all of the various points of past contention have been agreed to between the United States and Iran, but a two-week period will allow the Agreement to be finalized and consummated… It is an Honor to have this Longterm problem close to resolution." Trading Tuesday afternoon to $117.63, WTI (July futures) almost touched $95 early in Wednesday's session ("biggest drop since 2020"). The S&P 500 gapped 2.7% higher at Wednesday's open, with the Nasdaq 100 and small cap Russell 2000 gapping 3.5%. The MAG7 Index surged 4.2%. Financial stocks were even stronger. The KBW Bank Index gapped up 4.4% and the Broker/Dealers 4.5%. After trading at 28 during Tuesday's session, the VIX (equities volatility) Index sank to 21 at Wednesday's open. European stock market moves were even more dramatic. Germany's DAX Index gapped 5.0% higher, with France's CAC40 jumping 4.3%. Italy's MIB and Spain's IBEX indices gapped 4.2% and 4.1%. UK FTSE 100 Index opened 3.0% higher. European banks (STOXX 600) gapped up 6.0%, ending the week 6.5% higher. European (subordinated) Bank CDS sank from 125 to 108 bps. European bond moves were just as dramatic. After trading to 4.00% in Tuesday trading, Italian 10-year yields opened Wednesday trading 39 bps lower at 3.61%. Greek yields sank from 3.93% all the way down to 3.59%. France's 10-year yield was at 3.80% on Tuesday, only to sink to Wednesday's 3.51% low. German yields dropped from 3.09% to 2.90%. UK gilt yields sank 26 bps to 4.68%. Acute volatility across...
New Iran Leadership More Extreme, Israeli Intelligence Concludes In what should not at all be a surprise to anyone who has been awake and observant over the past 20+ years of America's military interventions in the Middle East, the Israeli Army and intelligence officials have concluded that Iran's news leadership is more extreme than the previous one . The IDF delivered a closed-door intelligence ...
New Iran Leadership More Extreme, Israeli Intelligence Concludes In what should not at all be a surprise to anyone who has been awake and observant over the past 20+ years of America's military interventions in the Middle East, the Israeli Army and intelligence officials have concluded that Iran's news leadership is more extreme than the previous one . The IDF delivered a closed-door intelligence briefing to the Knesset Foreign Affairs and Defense Committee on Thursday, which involved presenting this finding, according to The Times of Israel . via Majlis Iran's new leadership consists of members of the elite Islamic Revolutionary Guard Corps (IRGC) which are now frequently described as far more ideologically rigid than the former political leadership - a development which was entirely predictable . The slain Ayatollah Ali Khamenei's son Mojtaba has not been seen in public since the US-Israeli attacks began, but he is also said to be hardline than his father. And of course, this current crop of leaders have either lost family or been wounded in the strikes - giving them more incentive to take a rigid stance against Washington. Still, NeoCon warmongers have been at times repeating old Iraq war, Bush era talking points of "they will greet us as liberators" . This certainly didn't happen in either Iraq or Afghanistan, and in the latter country the Taliban is now in complete control despite a more than two-decade long US coalition occupation and quagmire. America's 'nation-building' only produced a failed state followed by greater Taliban ascendancy and control. In many cases, the very same officials advocating for regime change in Iran were on board with all the foreign policy failures of the past, also including Syrian and Libya . The Trump administration itself in the opening days of the bombing campaign acted as if suddenly masses of people would rise up and overthrow the Islamic Republic and its long-standing institutions. Yet the government has not fallen, and stil...
pingingz/iStock via Getty Images Overview Despite market indices experiencing choppiness for the first quarter of 2026, the DNP Select Income Fund ( DNP ) has held up quite well. When I previously covered DNP, I issued a buy rating due to the attractive valuation at the time. Since then, the fund's share price has risen and outpaced the S&P 500 Index ( SPX ). However, I wanted to revisit the fund ...
pingingz/iStock via Getty Images Overview Despite market indices experiencing choppiness for the first quarter of 2026, the DNP Select Income Fund ( DNP ) has held up quite well. When I previously covered DNP, I issued a buy rating due to the attractive valuation at the time. Since then, the fund's share price has risen and outpaced the S&P 500 Index ( SPX ). However, I wanted to revisit the fund to discuss a renewed growth catalyst that can take the fund higher over the next several years. While DNP is very likely to stay on-brand with preserving investor capital and providing stable dividend income, I believe that the potential for growth is very attractive. Looking at the performance over the last twelve months, we can see that DNP's share price has increased by more than 13.6%. While the market indices have trended lower, DNP has remained resilient. When including all distributions that were paid out to investors, the total return jumps above 22.8% over the same time frame. DNP now offers investors a starting dividend yield of 7.4%, which is paid out on a monthly basis. The fund should have no problem generating earnings that far exceed distributions. Furthermore, the fund has a very strong track record of consistent payouts, which is great for investors looking for income stability. Data by YCharts Despite the recent run in share price, DNP still trades at a very attractive discount to NAV valuation. Therefore, it remains a very solid time to accumulate shares for both long-term and short-term investors seeking a deal in the market. I believe that DNP's portfolio is directly positioned to capitalize on the rising demand for AI data centers. Utility companies were once known as the stable workhorses of the market, and while this is still true, the rise of AI is likely to provide rapid earnings growth for many of DNP's holdings. However, the upside growth may be interrupted by changing market sentiment and the impact of the fund's use of leverage. Fund Strategy T...