The seemingly most-loved industry on the planet, semiconductors, is taking a bit of a break. Yet we say that tongue-in-cheek, as most of the true semi leaders remain very close to their all-time highs (ATHs), while the major indices continue to hold close to their recent ATHs. When a stock doubles in four months and then works off extreme overbought daily and weekly conditions by going sideways, that is truly impressive. Working off overbought conditions in time rather than price is quite bullish. It's still possible these monster stocks pull back or correct - but, so far, their price action has been astounding, with very little evidence of topping formations on the charts.

Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022. That's a recent rarity, as for the past decade-plus, the performance record has favored growth. But the tide turned in 2022. The rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy and regional banks) that had lagged in recent quarters, and value stocks outpaced growth stocks that year. While growth stocks have retaken the lead since 2023, the Federal Reserve continues to keep interest rates high to fend off inflation. This could possibly cap multiple expansion for growth companies in coming quarters. In any event, the value sector is the place to achieve income.

Weekly Tee Up: Walmart and Nvidia

Artificial Intelligence: Investment Ideas in the Age of AI

The negative correlation between the stock market, the bond market, and U.S. Dollar Index (USD) has been very high of late. The late-July top and August pullback in stocks coincided with a run-up in Treasury yields as well as a decent increase in the greenback. The subsequent equity bounce off the August 24 low can be attributed to a quick decline in rates and the dollar. The latest minor drop in stocks corresponded to a quick pop in yields and the USD.

Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022 for the first time since 2016. Indeed, for the past decade, the performance record has favored growth. But the tide turned in 2022. The rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy companies and regional banks) that had lagged in recent quarters, and value stocks outpaced growth stocks over the past year. Meanwhile, the Federal Reserve continues to lift interest rates to fend off inflation, which could possibly cap multiple expansion for growth companies for a few more quarters. Regardless, the value sector is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 2.2%, compared to the 0.9% current yield on the iShares Russell 1000 Growth Index ETF. For our High-Yield Theme Model Portfolio, we are seeking stocks with yields of at least 3.0%. This moves us deep into the value segment of the market.

Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022 for the first time since 2016. Indeed, for the past decade, the performance record has favored growth. But the tide turned in 2022. The rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy companies and regional banks) that had lagged in recent quarters, and value stocks outpaced growth stocks over the past year. Meanwhile, the Federal Reserve continues to lift interest rates to fend off inflation, which could possibly cap multiple expansion for growth companies for a few more quarters. Regardless, the value sector is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 2.2%, compared to the 0.9% current yield on the iShares Russell 1000 Growth Index ETF. For our High-Yield Theme Model Portfolio, we are seeking stocks with yields of at least 3.0%. This moves us deep into the value segment of the market.

Overall insider sentiment, based on proprietary data from Vickers Stock Research, continues to improve - with sentiment from executives at companies that trade on the Nasdaq leading the charge. We are not ready to call for a bullish stampede, as the short-term and long-term readings from Vickers are not yet fully aligned. But they are clearly moving in that direction. Here are some highlights.

Stocks were flying high on Thursday morning after another tame CPI report. Bond yields across the curve fell following the 8:30 am data release and it looked like it would be a very good day for the markets. The S&P 500, Nasdaq, and Nasdaq 100 were all up a bit more than 1% by 10:00 am. Yet tocks sold off from there, with the major indices going negative in the afternoon. Bond prices did not hold their early gains, but yields didn't take off until 12:35 pm.

Stocks fell on Thursday morning amid continued concerns about the health of regional banks and the approaching debt ceiling deadline. The losses extended the selloff on Thursday, when the Fed raised its benchmark interest rate by 25 basis points to the 5.0%-5.25% range. Fed Chair Jerome Powell signaled that the Fed would pause rate hikes for now as it assessed the impact of its rate hike campaign, but rejected the view that the central bank would cut rates later this year. The Dow fell 1.1%, the S&P 0.7%, and the Nasdaq 0.4%. Crude oil traded near $69 per barrel, while gold rose $19 to $2056 per ounce.

Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022 for the first time since 2016. Indeed, for the past decade, the performance record has favored growth. But the tide turned in 2022. The rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy companies and regional banks) that had lagged in recent quarters, and value stocks outpaced growth stocks over the past year. Meanwhile, the Federal Reserve continues to lift interest rates to fend off inflation, which could possibly cap multiple expansion for growth companies for a few more quarters. Regardless, the value sector is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 2.2%, compared to the 0.9% current yield on the iShares Russell 1000 Growth Index ETF. For our High-Yield Theme Model Portfolio, we are seeking stocks with yields of at least 3.0%. This moves us deep into the value segment of the market.

Stocks were mixed on Tuesday morning ahead of a speech by Fed Chair Jerome Powell. Investors will be watching to see whether Mr. Powell strikes a more hawkish tone after last week's post-rate-hike news conference and strong January employment report. Baidu shares jumped 11% on news that the Chinese tech company would launch a new artificial intelligence chatbot, similar to ChatGPT, in March. The Dow fell 0.2%, the S&P rose 0.1%, and the Nasdaq rose 0.4%. Crude oil rose $3 to $77 per barrel, while gold rose $9 to $1989 per ounce.

LyondellBasell is a petrochemical producer with operations in the United States, Europe, and Asia. The company is the world’s largest producer of polypropylene and is also a major producer of polyethylene and propylene oxide. Its chemicals are used in various consumer and industrial end products. Over half of LyondellBasell’s production come from its North American operations.

Monday Tee Up: Big Retail Earnings

The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Value stocks -- a market segment that includes high-yield stocks -- are outperforming growth stocks in 2022 for the first time since 2016. Indeed, for the past decade, the performance record has favored growth. In nine of the past 10 years, growth stocks have topped value stocks. But the tide may be turning. The rollout of COVID-19 vaccines has given a lift to some of the cyclical companies (energy companies and regional banks) that have lagged in recent quarters, and value stocks have kept up the pace with growth stocks in the past year. Now, the Federal Reserve lifting interest rates to fend off inflation, which will likely cap multiple expansion for growth companies. Regardless, the value sector is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 2.1%, compared to the 0.8% current yield on the iShares Russell 1000 Growth Index ETF. For our High-Yield Theme Model Portfolio, we are seeking stocks with yields of at least 3.0%. This moves us deep into the value segment of the market.

In late May, we noted that the proprietary sell/buy ratios from Vickers Stock Research were becoming increasingly bullish after a very difficult start for stocks in 2022. We made comparisons to past such events, concluding that history suggested stock prices might well rise significantly over the next three months. Major indices moved still lower over the next few weeks, while Vickers' sell/buy ratios became increasingly bullish. Stocks seemingly bottomed (we hope) in mid-June.

Over the past seven days, the stock market has been stuck in the mud. On May 27, the S&P 500 closed at 4,158. Yesterday, the index closed at 4,116. The intraday range during those seven days has been 4,074 to 4,178. The seven-day rate of change is -1%. Are investors sitting on their hands until Friday's report on CPI? Could be, as volume on the SPYs, QQQs, S&P 400 MidCap (MDY), and Russell 2000 (IWM) has been well below the 20- and 50-day averages. For the most part, volume has fallen on these indices over the past five to seven days, for some in a straight line.

Stocks continued to fall sharply on Monday morning amid a range of economic and geopolitical negatives, as investors awaited new inflation data later this week. On the earnings front, Tyson shares rose modestly after the company posted better-than-expected fiscal 2Q results, helped by soaring meat prices, and raised its full-year sales guidance. The Dow fell 1.8%, the S&P 2.7%, and the Nasdaq 3.5%. Crude oil fell more than 4% to $104.50 per barrel, while gold traded near $1862 per ounce.

Value stocks -- a market segment that includes high-yield stocks -- are outperforming growth stocks in 2022. For the past decade, the performance record has favored growth, but the tide may be turning. The rollout of COVID-19 vaccines has given a lift to some of the cyclical companies (energy companies and regional banks) that have lagged in recent quarters, and value stocks have kept up the pace with growth stocks in the past year. Now, the Federal Reserve is poised to lift interest rates to fend off inflation, which will likely cap multiple expansion for growth companies. Regardless, the value sector is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 1.6%, compared to the 0.5% current yield on the iShares Russell 1000 Growth Index ETF. For our High-Yield Theme Model Portfolio, we are seeking stocks with yields of at least 3.0%. This moves us deep into the value segment of the market.

Stocks edged higher on Tuesday morning after a strong rally on Monday as investors weighed new manufacturing and employment data. The Institute for Supply Management said that its national factory index fell to 57.6 in January, down from 58.8 in December and just above the Bloomberg consensus forecast of 57.5. In its JOLTS report, the Labor Department said that job openings rose to 10.925 million at the end of December, up from 10.775 million a month earlier and well above the consensus forecast of 10.3 million. The Dow rose 0.1%, the S&P 0.1%, and the Nasdaq 0.3%. Crude oil fell below $88 per barrel, while gold rose $9 to $1806 per ounce.

With major stock indices dancing around all-time highs (seemingly the result of a so-far solid earnings season), the volume of insider transactions is predictably low (also the result of earnings season, with associated trading restrictions). That said, the current low transaction volume is particularly low. Indeed, it is now six consecutive weeks that Vickers' Stock Research has processed fewer than 1,000 weekly insider trades that met the criteria for inclusion in the Weekly Insider Report. The last time we saw such a run was back in September of 2020. One can argue that insiders then and now were/are biding their time, with no sense of urgency to sell stocks but also no great reason to buy shares at lofty levels.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are DuPont de Nemours Inc (DD); Hilton Worldwide Holdings Inc (HLT); Twilio Inc (TWLO); Corning, Inc. (GLW) and the Focus List deletions are LyondellBasell Industries NV (LYB); American Electric Power Co Inc (AEP); International Business Machine (IBM); T-Mobile US Inc (TMUS); Restaurant Brands Intl In (QSR).

We recently raised our rating on the Basic Materials sector to Over-Weight. Despite challenges presented by the Delta variant and the tenacity of COVID-19, the global economy continues to reopen, spurring demand for goods and underscoring scarcity across the supply chain. In this environment, we look for demand for commodities to remain robust and pricing to remain strong. The sector accounts for 2.5% of the S&P 500, and includes industries such as chemicals, paper, metals and mining. Over the past five years, the weighting has ranged from 2% to 4%. We think investors should consider allocating 3% of their diversified portfolios to stocks in this sector. The sector is underperforming thus far in 2021, with a gain of 17.7%. It outperformed in 2020, with a gain of 18.1%, and underperformed in 2019, with a gain of 21.9%. Here is how we use our analysts' Materials sector ideas in our Focus List and Model Portfolios.

Value stocks are outperforming growth in 2021 (for the first time since 2016), though a recent rally in growth stocks has narrowed the performance advantage for value. But in an environment of historically low interest rates, many investors are still searching for high levels of income, which often can be found in value stocks. During recent years, the performance record has favored growth. Since 2010, the Russell 1000 Growth Index has climbed more than 450%, compared to an advance of 180% for the Russell 1000 Value Index. In eight of the past 10 years, growth stocks have topped value stocks. That hasn't always been the case. In the previous decade, including the Great Recession, value stocks were better performers than growth stocks, advancing an admittedly low 8%, but still better than growth, which declined 15% during the decade. Value investors trace their roots to the famous "Security Analysis" textbook, written by Ben Graham, an economics professor at Columbia University. Warren Buffett was one of his students. The tide may now be turning. Progress on COVID-19 vaccines has given a lift to some of the cyclical companies (energy companies and banks) that have lagged in recent quarters, and value stocks have kept pace with growth stocks in the past year. In any event, value is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 1.6%, compared to the 0.5% current yield on the iShares Russell 1000 Growth Index ETF. This is important, as the current yield on the 10-year Treasury bond is 1.30%. For our list this week, we have screened our coverage universe for stocks that are BUY-rated by Argus Research analysts, have an Argus Financial Strength rating of at least Medium, and have a yield of 3.0% or higher. New stocks in our portfolio include the following.

Value stocks are outperforming growth in 2021 for the first time since 2016. While a recent rally in growth stocks has narrowed the performance advantage for value in the year to date, an environment of historically low interest rates is one in which many investors are still searching for high levels of income -- which often can be found in value stocks. When we look for attractive high-yield/deep-value stocks at Argus, we look for low valuations on metrics such as price/earnings, price/sales, price/book, yield, and price/cash flow. We also look for companies with clean balance sheets, high levels of profitability, high-quality earnings, and experienced management teams. We seek to avoid companies in industries that are in secular decline, or with dividend yields that are so high that the payout is clearly at risk. Based on numerous requests from clients, we have designed a portfolio of companies that are BUY-rated at Argus Research, have a Financial Strength rating of at least Medium, and have a yield of 3.0% or higher.

Stocks were mixed on Tuesday morning amid uncertainty about the economic impact of the Delta variant. Factory order data showed slower growth but still topped the consensus forecast. The Commerce Department said that U.S. factory orders rose 1.5% in June, above the Reuters consensus of 1.0% but down from 2.3% growth in May. The Dow rose 0.2%, the S&P fell 0.1%, and the Nasdaq fell 0.6%. Crude oil traded near $70 per barrel, while gold fell $8 to $1814 per ounce.

Argus has published its latest Portfolio Selector, which features its popular Focus List. Each month, Director of Research Jim Kelleher, CFA, surveys the team of Argus Research industry analysts for their timeliest recommendations out of the company's fundamental universe of approximately 500 stocks. The Focus List typically includes 30 stocks: turnover is high, as Director of Research Kelleher typically adds three or four new stocks per month. Below are the latest additions, all of which are rated BUY.

The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Vontier Corp (VNT); Discover Financial Services (DFS); U.S. Bancorp. (USB); LyondellBasell Industries NV (LYB) and the Focus List deletions are Linde Plc (LIN); ServiceNow Inc (NOW); Old Dominion Freight Line, Inc (ODFL); Square Inc (SQ).

Stocks were mixed on Monday morning, with strong gains in the Consumer Staples, Industrial, and Utility sectors and losses in Technology and Communication Services. Marriott shares fell 3% after the company posted lower-than-expected 1Q earnings, reflecting weak bookings in its core U.S. market. Tyson shares also fell, despite better-than-expected fiscal 2Q results, after management warned that rising costs would weigh on margins in the second half of the year. The Dow rose 0.8%, the S&P was flat, and the Nasdaq fell 1.4%. Crude oil traded near $64.50 per barrel, while gold rose $9 to $1839 per ounce.

Just before the 2020 holiday season, we started commenting on insider sentiment that was trending in a bearish direction. Two weeks ago, we started to pound the table a bit, as the broadest sell/buy ratio from Vickers Stock Research (the Total Eight-Week Sell/Buy Ratio, which includes all insider transactions that meet the criteria for inclusion in the Weekly Insider Report) started to reach worrisome levels. By the numbers, the ratio was 8.63 last week (with anything over 2.50 bearish) and included a Nasdaq component reading of 10.63.

Stocks rose strongly on Monday morning after Pfizer and BioNTech reported that their coronavirus vaccine was more than 90% effective in a late-stage clinical trial. The companies also said that they had thus far found no serious safety concerns with the vaccine. Pfizer shares rose nearly 9%. The Dow rose 3.9%, the S&P 2.8%, and the Nasdaq 0.7%. Crude oil jumped more than 8% to $40 per barrel, while gold dropped $88 to $1864 per ounce.

The S&P 500 closed on August 7 in the 3,350s, within 1% of its all-time closing high of 3,386.15. That high was set on 2/19/20, when COVID-19 was still largely a vague concern and not the overwhelming global catastrophe it is now. The market has continued rallying in August, rising by 2.6% in the month-to-date in what is normally a poor month for the S&P 500.

The S&P 500 closed on August 7 in the 3,350s, within 1% of its all-time closing high of 3,386.15. That high was set on 2/19/20, when COVID-19 was still largely a vague concern and not the overwhelming global catastrophe it is now. The market has continued rallying in August, rising by 2.6% in the month-to-date in what is normally a poor month for the S&P 500.

First-Quarter Review and Outlook for 2020

First-Quarter Review and Outlook for 2020

We'll start our weekly analysis of insider sentiment data from Vickers Stock Research by getting the headline out of the way. There is nothing in current insider sentiment that we feel is cause for alarm. Indeed, our word of the week (it was 'benign' last week) is stable. Yes, sentiment is stable -- but that's not to say that there aren't a few details to pondered.

We'll start our weekly analysis of insider sentiment data from Vickers Stock Research by getting the headline out of the way. There is nothing in current insider sentiment that we feel is cause for alarm. Indeed, our word of the week (it was 'benign' last week) is stable. Yes, sentiment is stable -- but that's not to say that there aren't a few details to pondered.

The S&P 500 closed on August 7 in the 3,350s, within 1% of its all-time closing high of 3,386.15. That high was set on 2/19/20, when COVID-19 was still largely a vague concern and not the overwhelming global catastrophe it is now. The market has continued rallying in August, rising by 2.6% in the month-to-date in what is normally a poor month for the S&P 500.

First-Quarter Review and Outlook for 2020

We'll start our weekly analysis of insider sentiment data from Vickers Stock Research by getting the headline out of the way. There is nothing in current insider sentiment that we feel is cause for alarm. Indeed, our word of the week (it was 'benign' last week) is stable. Yes, sentiment is stable -- but that's not to say that there aren't a few details to pondered.

The major indices are mixed at midday on Friday after President Trump reiterated that the United States has not yet agreed to any rollback of tariffs with China, re-igniting uncertainty about the status of a "phase one" trade deal. Disney shares gapped up this morning after a strong earnings report yesterday afternoon, with the media and entertainment company beating on both the top and bottom lines ahead of the launch of its new video streaming service. Industries doing well today include Entertainment, Biotechnology, and Household Durables. Industries showing weakness include Diversified Consumer Services, Metals & Mining, and Diversified Financial Services. The VIX is up 0.03 to 12.76 after the previous close of 12.73. The S&P was flat, the Dow fell 0.2%, and the Nasdaq rose 0.2%. Crude oil traded near $57 per barrel, while gold fell slightly to $1466 per ounce.

The major indices are mixed at midday on Friday after President Trump reiterated that the United States has not yet agreed to any rollback of tariffs with China, re-igniting uncertainty about the status of a "phase one" trade deal. Disney shares gapped up this morning after a strong earnings report yesterday afternoon, with the media and entertainment company beating on both the top and bottom lines ahead of the launch of its new video streaming service. Industries doing well today include Entertainment, Biotechnology, and Household Durables. Industries showing weakness include Diversified Consumer Services, Metals & Mining, and Diversified Financial Services. The VIX is up 0.03 to 12.76 after the previous close of 12.73. The S&P was flat, the Dow fell 0.2%, and the Nasdaq rose 0.2%. Crude oil traded near $57 per barrel, while gold fell slightly to $1466 per ounce.

Stocks rallied on Tuesday morning after the Trump administration said that it would delay planned tariffs on certain Chinese products, notably consumer electronics and clothing, until December 15. However, the office of the U.S. Trade Representative said that a new 10% tariff on about half of all Chinese imports would still take effect on September 1. Meanwhile, the Labor Department reported higher inflation in July, with the core CPI rising 0.3% from June and 2.2% year-over-year. The Dow, the S&P, and the Nasdaq were all up about 1.5%. Crude oil rose $2 to $57 per barrel, while gold fell $4 to $1513 per ounce.

Stocks rallied on Tuesday morning after the Trump administration said that it would delay planned tariffs on certain Chinese products, notably consumer electronics and clothing, until December 15. However, the office of the U.S. Trade Representative said that a new 10% tariff on about half of all Chinese imports would still take effect on September 1. Meanwhile, the Labor Department reported higher inflation in July, with the core CPI rising 0.3% from June and 2.2% year-over-year. The Dow, the S&P, and the Nasdaq were all up about 1.5%. Crude oil rose $2 to $57 per barrel, while gold fell $4 to $1513 per ounce.

Stocks rose on Wednesday morning following strong results from Apple and new manufacturing and employment data. The Institute for Supply Management said that its manufacturing index fell to a weaker-than-expected 52.8 in April from 55.3 in March. On the employment front, payroll provider ADP said that U.S. companies created 275,000 jobs in April, up from 151,000 in March and above the Reuters consensus estimate of 180,000. The Dow rose 0.4%, the S&P 0.3%, and the Nasdaq 0.6%. Crude oil fell more than 1% to $63 per barrel, while gold fell slightly to $1284 per ounce.

Stocks rose on Wednesday morning following strong results from Apple and new manufacturing and employment data. The Institute for Supply Management said that its manufacturing index fell to a weaker-than-expected 52.8 in April from 55.3 in March. On the employment front, payroll provider ADP said that U.S. companies created 275,000 jobs in April, up from 151,000 in March and above the Reuters consensus estimate of 180,000. The Dow rose 0.4%, the S&P 0.3%, and the Nasdaq 0.6%. Crude oil fell more than 1% to $63 per barrel, while gold fell slightly to $1284 per ounce.

The major indices are mixed at midday on Monday, with every sector hovering within half a point of breakeven. Negotiations for a long-term federal budget agreement broke down on Sunday, and the government will shut down again - only three weeks after reopening - if a deal isn't reached by Friday. Industries doing well today include Road & Rail, Healthcare Technology, and Leisure Products. Industries showing weakness include Tobacco, Multiline Retail, and Metals & Mining. The VIX is up 0.57 to 16.29 after the previous close of 15.72. The Dow fell 0.1%, the S&P was flat, and the Nasdaq rose 0.1%. Crude oil fell 2% to about $51.50 per barrel, while gold fell $6 to $1313 per ounce.

The major indices are mixed at midday on Monday, with every sector hovering within half a point of breakeven. Negotiations for a long-term federal budget agreement broke down on Sunday, and the government will shut down again - only three weeks after reopening - if a deal isn't reached by Friday. Industries doing well today include Road & Rail, Healthcare Technology, and Leisure Products. Industries showing weakness include Tobacco, Multiline Retail, and Metals & Mining. The VIX is up 0.57 to 16.29 after the previous close of 15.72. The Dow fell 0.1%, the S&P was flat, and the Nasdaq rose 0.1%. Crude oil fell 2% to about $51.50 per barrel, while gold fell $6 to $1313 per ounce.

Stocks rallied on Tuesday morning after the Trump administration said that it would delay planned tariffs on certain Chinese products, notably consumer electronics and clothing, until December 15. However, the office of the U.S. Trade Representative said that a new 10% tariff on about half of all Chinese imports would still take effect on September 1. Meanwhile, the Labor Department reported higher inflation in July, with the core CPI rising 0.3% from June and 2.2% year-over-year. The Dow, the S&P, and the Nasdaq were all up about 1.5%. Crude oil rose $2 to $57 per barrel, while gold fell $4 to $1513 per ounce.

Stocks rose on Wednesday morning following strong results from Apple and new manufacturing and employment data. The Institute for Supply Management said that its manufacturing index fell to a weaker-than-expected 52.8 in April from 55.3 in March. On the employment front, payroll provider ADP said that U.S. companies created 275,000 jobs in April, up from 151,000 in March and above the Reuters consensus estimate of 180,000. The Dow rose 0.4%, the S&P 0.3%, and the Nasdaq 0.6%. Crude oil fell more than 1% to $63 per barrel, while gold fell slightly to $1284 per ounce.

The major indices are mixed at midday on Monday, with every sector hovering within half a point of breakeven. Negotiations for a long-term federal budget agreement broke down on Sunday, and the government will shut down again - only three weeks after reopening - if a deal isn't reached by Friday. Industries doing well today include Road & Rail, Healthcare Technology, and Leisure Products. Industries showing weakness include Tobacco, Multiline Retail, and Metals & Mining. The VIX is up 0.57 to 16.29 after the previous close of 15.72. The Dow fell 0.1%, the S&P was flat, and the Nasdaq rose 0.1%. Crude oil fell 2% to about $51.50 per barrel, while gold fell $6 to $1313 per ounce.

EPS, GDP Try to Reverse Down-Trending Market

The major indices are mixed at midday on Friday after President Trump reiterated that the United States has not yet agreed to any rollback of tariffs with China, re-igniting uncertainty about the status of a "phase one" trade deal. Disney shares gapped up this morning after a strong earnings report yesterday afternoon, with the media and entertainment company beating on both the top and bottom lines ahead of the launch of its new video streaming service. Industries doing well today include Entertainment, Biotechnology, and Household Durables. Industries showing weakness include Diversified Consumer Services, Metals & Mining, and Diversified Financial Services. The VIX is up 0.03 to 12.76 after the previous close of 12.73. The S&P was flat, the Dow fell 0.2%, and the Nasdaq rose 0.2%. Crude oil traded near $57 per barrel, while gold fell slightly to $1466 per ounce.

Growth stocks may be outperforming in 2018 -- but in an environment of historically low interest rates, many investors are still searching for high levels of income, which can often be found in Value stocks. Over the years, the performance record has favored Growth. Since 2003, the Russell 1000 Growth Index has climbed 423%, compared to an advance of 278% for the Russell 1000 Value Index. In 10 of the 15 years of this period, Growth stocks have topped Value stocks. Still, Value is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 2.2%, compared to the current yield on the iShares Russell 1000 Growth Index ETF of 1.1%. As well, sometimes the risk profile favors Value. For the past five years, the standard deviation of monthly returns for Value stocks has been 2.83%, compared to the standard deviation of monthly returns for Growth stocks of 2.93%. When we look for Value at Argus, we look for low valuations on metrics such as price/earnings, price/sales, price/book, yield and price/cash flow. But we also look for companies with clean balance sheets, high levels of profitability and cash flow generation capability, and experienced management teams.

Growth stocks may be outperforming in 2018 -- but in an environment of historically low interest rates, many investors are still searching for high levels of income, which can often be found in Value stocks. Over the years, the performance record has favored Growth. Since 2003, the Russell 1000 Growth Index has climbed 423%, compared to an advance of 278% for the Russell 1000 Value Index. In 10 of the 15 years of this period, Growth stocks have topped Value stocks. Still, Value is the place to achieve income. The current yield on the iShares Russell 1000 Value Index ETF is 2.2%, compared to the current yield on the iShares Russell 1000 Growth Index ETF of 1.1%. As well, sometimes the risk profile favors Value. For the past five years, the standard deviation of monthly returns for Value stocks has been 2.83%, compared to the standard deviation of monthly returns for Growth stocks of 2.93%. When we look for Value at Argus, we look for low valuations on metrics such as price/earnings, price/sales, price/book, yield and price/cash flow. But we also look for companies with clean balance sheets, high levels of profitability and cash flow generation capability, and experienced management teams.