A Tale of Two Tapes

Published on April 20, 2026

The S&P 500 closed Wednesday at a fresh all-time high of 7,022.95, surpassing the late-January peak and capping a remarkable round trip from the spring selloff.

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Why Do Consumers Feel Worse in a Strong Economy?

April 20, 2026
Headline economic indicators remain resilient as gross domestic product (GDP) continues to expand, the unemployment rate remains low and wage growth has held up better than expected. However, these figures reflect averages, not the lived experience of households.

Markets Climb as Risks Ease and Earnings Deliver

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The S&P 500 reached another all-time high this week, supported by easing concerns around geopolitical risk.