Financial Professionals

Market Insights

Blogs

Joe Terranova
"Vital Signs" Podcast: Joe Terranova’s Market Insights March 2015

2/27/2015

Joe Terranova
Vital Signs February 2015

2/2/2015
February Vital Signs: Joe Terranova highlights six market events and indicators to watch in the month ahead.

Joe Terranova
Vital Signs January 2015

12/29/2014

Joe Terranova
2015 Behavioral Finance

12/4/2014
Joe Terranova offers 10 behavioral finance themes to ponder at year-end.

Joe Terranova
SPX Earnings, Metrics, M&A

12/4/2014
Joe Terranova pulls together the latest SPX earnings, metrics, and M&A activity

Joe Terranova
Q1 2015 Commodities’ Impact

12/3/2014
Joe Terranova considers potential impact of commodities on the economy, asset classes, and sectors in Q1 2015.

Joe Terranova
Q1 2015 Emerging Markets

12/2/2014
7 reasons why Joe Terranova expects ‘modest improvement’ for EM assets in 2015.

Joe Terranova
2015 Consensus Views

12/2/2014
2015 Consensus Views: Joe Terranova shares 21 for investors to consider

Joe Terranova
Vital Signs December 2014

11/26/2014

Joe Terranova
OPEC Expectations

11/17/2014
Joe Terranova shares his expectations for this month’s OPEC meeting and the cartel’s future.

Joe Terranova
Russian Headlines May Return

11/12/2014
Why worry about Russia? Joe Terranova shares concerns for potential impact to global risk assets.

Joe Terranova
Q3 S&P 500 Earnings Update

11/7/2014
Strong margin expansion a point of emphasis in Joe Terranova’s Q3 S&P 500 earnings roundup.

Joe Terranova
Elections Do Matter, Especially Japan’s

11/6/2014
Joe Terranova explains why elections matter to capital markets, especially Japan’s.

Joe Terranova
Vital Signs November 2014

10/31/2014

Joe Terranova
Market Insights: Calendar Q3 Earnings Update

10/24/2014
SPX CQ3 Earnings and Global M&A Update – Joe Terranova’s data round-up through October 23.

Joe Terranova
The Next Catalyst

10/17/2014
Joe Terranova’s thoughts on this week’s volatility and the next market.

Joe Terranova
U.S. 10-Year Treasury Yield Nears Low

10/7/2014
Joe Terranova contemplates the U.S. 10-year Treasury yield and the reality of the current rate environment.

Joe Terranova
The Most Important Vital Sign for Capital Markets

10/6/2014

Joe Terranova
“Into the Home Stretch” – Joe Terranova’s October Capital Markets Calendar

9/30/2014

Joe Terranova
Fed Taper Wasn’t a Tantrum After All

9/25/2014
“Fed Taper Wasn’t a Tantrum After All” – Joe Terranova’s offers his latest market insights.

Joe Terranova
Midtown Traffic

9/24/2014
What does Midtown traffic have in common with capital markets? Joe Terranova sees an analogy.

Joe Terranova
U.S. Dollar Rises Again This Week

9/19/2014
Which asset classes may be impacted by the rising U.S. dollar? Joe Terranova discusses market implications.

Joe Terranova
Back to School Nights

9/12/2014
It’s back to school for Wall Street observes Joe Terranova in his assessment of this week’s markets and expectations for next week.

Joe Terranova
School, Football, and D.C. are Back

9/5/2014
Joe Terranova offers market insights on the August jobs report, S&P technicals, and what’s ahead for next week.

Joe Terranova
Virtus Vital Signs: August ISM Manufacturing

9/2/2014
Joe Terranova comments on strong August ISM Manufacturing data.

Joe Terranova
"'Danger' or 'Exception'?" Joe Terranova's September Capital Markets Calendar

8/28/2014
Joe Terranova suggests some economic indicators to watch in September and why.

Joe Terranova
You Are Not Mr. Buffett

8/18/2014
Joe Terranova is inspired by Warren Buffet and suggests how average investors may improve their investment outcome.

Joe Terranova
U.S. 10-Year Treasury Yields

8/15/2014

Joe Terranova
Calendar Q2 Earnings Update

8/8/2014
As of the close of business Thursday, August 7, 452 of S&P 500® Index (SPX) companies have reported calendar Q2 earnings.

Joe Terranova
Summer Slowdown

8/3/2014
Has the long-awaited market correction begun? Joe Terranova suggests watching these two indicators for guidance.

Joe Terranova
Joe Terranova’s August Capital Markets Calendar

7/31/2014
With volatility levels at multi-year lows, investors should feel comfortable heading for the beach to enjoy summer’s final weeks.

Joe Terranova
Calendar Q2 Earnings Update (as of 7/28/14)

7/29/2014

Joe Terranova
Thoughts on the WSJ CALPERS story

7/24/2014
Within the past 24 hours, The Wall Street Journal reported that the nearly $290 billion California Public Employees’ Retirement System (CALPERS) portfolio will reduce its exposure to hedge funds (alternatives) by 40%.

Joe Terranova
Revisiting My Nine Investment Themes

7/21/2014
What is Joe Terranova’s current view of nine investment themes he favored in December 2013?

Joe Terranova
Calendar Q2 Earnings Update

7/18/2014
S&P 500 CQ2 earnings from 82 companies to date, plus YTD M&A activity– Joe Terranova runs through the numbers.

Joe Terranova
All-Star Week Lineup

7/14/2014
Joe Terranova runs through his “All-Star” lineup of what’s ahead for the capital markets this week.

Joe Terranova
Watch These Three Conditions

7/8/2014
Three market conditions to watch closely, two investment ideas to consider, Joe Terranova shares with readers.

Joe Terranova
Was it a Good Week?

7/3/2014
The second half of 2014 began this holiday-shortened week. Global risk assets continued to appreciate, and I would argue for good reasons.

Joe Terranova
2014 Capital Markets Summary

7/1/2014
2014 Capital Markets Summary: Joe Terranova posts mid-year performance of US and global major markets

Joe Terranova
U.S. Economy Mid-Year Glance

6/27/2014
With the calendar set to turn into the second half of 2014, let’s take a statistical snapshot of the critical economic data points for the United States.

Joe Terranova
July Capital Markets Calendar

6/26/2014

Joe Terranova
Mergers & Acquisitions

6/25/2014
Heading into 2014, a critical theme and potential tailwind for global capital markets was a recovery in global merger and acquisition (M&A) activity.

Joe Terranova
Striking a Balance

6/19/2014
Joe Terranova’s mid-year portfolio insights: Strike a balance for the second half, and focus on the micro

Joe Terranova
Portfolio Implications: Iraq

6/18/2014
Time to give energy the proper attention it deserves, says Joe Terranova. Read why in "Portfolio Implications: Iraq"

Joe Terranova
FOMC Meeting Preview

6/17/2014
Ahead of the Fed: Joe Terranova offers a preview of what we might expect from this week’s FOMC meeting

Joe Terranova
ISM Manufacturing & Treasury Yields

6/2/2014
Joe Terranova posts round 3 comments on today’s capital markets; the latest on ISM and US Treasury yields.

Joe Terranova
A “Busy” Start to June

6/1/2014
Joe Terranova looks at the “busy” week ahead for capital markets, with a focus on the euro and financials.

Joe Terranova
China May PMI Manufacturing

6/1/2014
What does Joe Terranova think of China’s highest PMI Mfg. reading since December 2013?

Joe Terranova
June Capital Markets Calendar

5/28/2014

Joe Terranova
Oil Prices Keep Rising

5/21/2014
Just out – Joe Terranova’s views on rising oil prices and what this potentially means for investors

Joe Terranova
Emerging Markets Q2 Outperformance

5/20/2014
Joe Terranova considers: Does Q2 outperformance of emerging markets suggest a larger 2014 bullish trend?

Joe Terranova
2014 SALT Conference

5/16/2014
2014 SALT Conference “the best” Joe Terranova has ever attended.

Joe Terranova
Global Currencies YTD

5/5/2014
Joe Terranova checks in on year-to-date performance of major global currency markets.

Joe Terranova
ISM Manufacturing & Nonfarm Payrolls

5/2/2014
Joe Terranova comments on the release of key U.S. economic data, ISM Manufacturing and Private Payrolls.

Joe Terranova
Market Update and Observations

4/30/2014

Joe Terranova
Big Macro Week Ahead

4/25/2014
Joe Terranova looks ahead to next week's big macro events, including much central bank activity.

Joe Terranova
Q1 2014 SPX Earnings Scorecard

4/21/2014
Joe Terranova comments on S&P 500 Q1 earnings to date.

Joe Terranova
March FOMC Minutes

4/10/2014
What does Joe Terranova make of the March FOMC minutes released yesterday?

Joe Terranova
Sellers on the News

4/7/2014
This past Friday the Labor Department released the nonfarm payroll report for March.

Joe Terranova
March U.S. ISM Manufacturing

4/1/2014
The second quarter began with the U.S. ISM manufacturing release for the month of March (Figure 1). Consensus estimates called for an increase to 54.0 from February’s 53.2.

Joe Terranova
April Capital Markets Calendar

3/31/2014

Joe Terranova
Market Update and Observations

3/28/2014

Joe Terranova
Joe Terranova Predicts Summer Market Correction, Followed by Recovery

3/24/2014

Joe Terranova
FOMC Meeting Observations

3/20/2014
First of all, a belated happy St. Patrick’s Day. I don’t know about you, but I was eerily reminded of 2008, the last time St. Patty’s Day fell on a Monday, when markets managed through the news that J.P. Morgan paid $2 per share for Bear Stearns.

Joe Terranova
Clarity High Above

3/13/2014
This past Tuesday, I enjoyed a wonderful journey across the country to Los Angeles, where sandwiched between the outbound and return flights was an enjoyable evening with some gracious folks from Royal Bank of Canada.

Joe Terranova
Ukraine, U.S. ISM Manufacturing, and Other “Potholes”

3/3/2014
March has begun somewhat similar to January, with the S&P 500® Index (SPX) (Figure 1) entering the new month fresh from a new all-time high.

Joe Terranova
March Capital Markets Calendar

3/3/2014

Joe Terranova
Status Quo

2/24/2014
Believe or not, it is already time to begin thinking about the month of March.

Joe Terranova
U.S. Debt Ceiling Suspension Impact

2/13/2014
Yesterday, the United States Senate voted 55-43, along party lines, to suspend the debt ceiling limit until March 15, 2015.

Joe Terranova
January U.S. Labor Report

2/10/2014
Last Friday, the Department of Labor released its nonfarm payroll report for the month of January.

Joe Terranova
Viewer Discretion Advised

2/7/2014
2014 has begun with a decline in global risk assets that is shaking out some of the overwhelming bullish consensus for the year by the collective investment community.

Joe Terranova
Welcome February

2/3/2014
The S&P 500® Index (SPX) staggered through the month of January, declining 3.56% to a January 31 close of 1782.59.

Joe Terranova
February Capital Markets Calendar

2/2/2014

Joe Terranova
Joe Terranova's Q1 Market Playbook Now Available

1/28/2014

Joe Terranova
SPX Earnings Update, as of 1/24/14

1/24/2014
Quarterly earnings for S&P 500-listed companies have neared the quarter pole. Next week another 130 companies will report, bringing the earnings season to the halfway mark.

Joe Terranova
Canadian Underperformance

1/22/2014
Last Thursday, I delivered the keynote address for the Alta Corp Capital Institutional Investor Conference at the Shangri-La hotel in Toronto, Ontario.

Joe Terranova
Fundamental Stability

1/16/2014
In the wake of Monday's sell-off, I posted a change to my "Global Risk Asset Correction Watch List," based on the technical vulnerability of the S&P 500® Index (SPX).

Joe Terranova
Market Insights: Technical Vulnerability

1/13/2014
This morning I posted a “global risk asset correction watch list” within the “Reflecting Back, Looking Forward” market insight posting.

Joe Terranova
Reflecting Back, Looking Forward

1/12/2014
Seven days of trading activity year to date is a rather small sample of information to digest for making portfolio decisions; however, there are some conditions that have presented that bear reflection.

Joe Terranova
Market Insights: Global Manufacturing Data

1/3/2014
The new year began with the release of global manufacturing activity reports for December

Joe Terranova
2013 Capital Markets Summary (Tables)

1/2/2014

Joe Terranova
January Capital Markets Calendar

12/30/2013

Joe Terranova
Market Insight: The FOMC, Morning After

12/19/2013
I find it valuable to pause in reacting to grand macro events such as yesterday’s long awaited FOMC asset purchase moderation announcement.

Joe Terranova
Market Insight: While We Wait for the FOMC

12/18/2013
Heading into this morning’s opening, there remains only eight-and-a-half trading sessions before the books close on 2013.

Joe Terranova
November NFP Report

12/9/2013
Last Friday morning, December 6, the Labor Department released the November nonfarm payrolls report.

Joe Terranova
European Manufacturing

12/2/2013
Joe Terranova blogs about strength of Europe’s manufacturing data

Joe Terranova
Weekend Data from Asia

12/1/2013
As the final month of 2013 begins, investors have some weekend economic data from Asia to digest: the November PMI manufacturing index from China and the November trade balance report from South Korea.

Joe Terranova
December Capital Markets Calendar

11/27/2013

Joe Terranova
European Opportunities

11/27/2013
As 2013 comes to a close, both the economic and asset recovery in Europe continues to defy skeptics.

Joe Terranova
FOMC Minutes

11/20/2013
On the afternoon of Wednesday, November 20, the Federal Open Market Committee (FOMC) released the minutes from its October 29-30 meeting.

Joe Terranova
Message from HD Earnings

11/19/2013
On Tuesday morning, November 19, Home Depot Inc. (HD), the largest domestic home improvement retailer, reported Q3 earnings.

Joe Terranova
Weekend Reading: November 16-17

11/15/2013
The S&P 500® Index (SPX) established another new all-time of 1791.53 on Thursday, November 14. Beginning Monday, November 18, there are only 30 trading days remaining in 2013.

Joe Terranova
October Nonfarm Payrolls

11/8/2013
This morning the Labor Department released the October nonfarm payrolls report. During the month of October the United States government experienced a shutdown from October 1 until October 16.

Joe Terranova
Useful Capital Markets Charts

11/7/2013
The following charts and tables are part of a capital markets presentation Joe recently gave to a group of financial advisors.

Joe Terranova
Comprehensive Weekend Reading

11/1/2013
November has arrived, bringing with it the return of multiple economic data releases and an important central bank meeting in Europe.

Joe Terranova
SPX Earnings & Technical Update

10/28/2013
Last Friday, October 25, the S&P 500® Index (SPX) (Figure 1) established both a new all-time closing high of 1759.77 and an intraday high of 1759.82.

Joe Terranova
September Nonfarm Payroll Report

10/23/2013
Thanks to the D.C. dysfunction, the September nonfarm payroll report was released 18 days later than expected. Accordingly, the October report has been pushed back one week from Friday, November 1, to Friday, November 8.

Joe Terranova
Market Consequences of D.C. Dysfunction

10/18/2013
Over the past few weeks, whether writing commentary or presenting to some of our clients, I have argued that the optimal strategy for investors was to largely ignore the D.C. dysfunction.

Joe Terranova
SPX Q3 Earnings 100/500

10/18/2013
Markets head into Friday’s trade at historic highs and further bolstered by the overnight China Q3 GDP print of 7.8% growth, finally accelerating after Q2’s disappointing 7.5% print.

Joe Terranova
SPX Q3 Earnings, Transcript Highlights

10/16/2013
As mixed messages continue to come from the kindergarten class running D.C.’s academic institution, my attention remains focused on the messages from Q3 earnings

Past performance is not a guarantee of future results.

Virtus Investment Partners provides this communication as a matter of general information. The opinions stated herein are those of the author and not necessarily the opinions of Virtus, its affiliates or its subadvisers. Portfolio managers at Virtus make investment decisions in accordance with specific client guidelines and restrictions. As a result, client accounts may differ in strategy and composition from the information presented herein. Any facts and statistics quoted are from sources believed to be reliable, but they may be incomplete or condensed and we do not guarantee their accuracy. This communication is not an offer or solicitation to purchase or sell any security, and it is not a research report. Individuals should consult with a qualified financial professional before making any investment decisions.