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.

Small- and mid-cap stocks (SMID) have underperformed large-caps over the past 12 months, but may be in a better position to generate market-beating returns going forward. SMID companies tend to focus on domestic markets, so their businesses could be less disrupted by the fallout from global events. As well, the prices of SMID stocks generally are lower than the prices of large-caps. As well, there are long stretches in the record books when SMID stocks have outperformed large-caps. That said, SMID stocks can be risky. The standard deviation for monthly returns was 5.7% for SMID stocks over a 2003-2021 test period, versus 4.3% for large-caps. Still, despite the risks, diversified investors look to have exposure to small- and mid-caps based on the long-term performance record.

It was another week of all-time highs, with the weekly winning streak for the S&P 500 (SPX) continuing. The SPX has moved higher in 17 out of 21 weeks, with a 27% gain during that period. The Nasdaq 100 (QQQ) and the Nasdaq are also 17 out of 21, soaring 30%. The S&P 400 prints the same story, with a 29% pop. Index price volatility is almost undetectable, although there has been some decent volatility, both up and down, among individual stocks. We saw one day of strong breadth on Wednesday and one weak day on Friday.

Stocks rallied on Thursday, extending yesterday's gains on rate-cut optimism. Turning to stocks, shares of Apple (AAPL) are down after the U.S. Department of Justice filed a lawsuit accusing the company of engineering a monopoly in the smartphone market. Bank stocks are up today as investors are optimistic that the anticipated rate cuts this year will drive more transactions. The S&P 500 is up 0.3%, the Dow is up 0.7%, the Nasdaq is up 0.2%, and the Russell 2000 is up 1.16%.

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.

We see what we believe are some great opportunities right now in Healthcare -- and we like the sector overall. Argus Director of Research Jim Kelleher, CFA, recently completed his quarterly sector review and raised Healthcare sector to Over-Weight from Market-Weight. The healthcare environment is undergoing rapid transitions, and we now see an unfolding period of significant promise and opportunity. Our newly-favored stance is based on resumption of deferred medical procedures and significant new quality-of-life drugs and treatments. The category is broad and has underperformed the S&P 500 over the past year. The Healthcare sector ETF (XLV) is up 15% over the past year compared to a gain of 31% for the S&P 500. We see opportunity here to pick up some steady companies, with big brands and solid financials. These companies are science-focused and enhance lives. They are innovators. In our list this week, we look across several subsectors within the Healthcare sector and pull out some leaders we like. These stocks also are included in our Focus List and Model Portfolios, as noted below.

In the past week, we have had little economic and EPS data, but we have had some interesting price action across the stock, bond, commodity, and currency markets. That caught us, as well as others, by surprise. But it is a big world out there and we try to avoid missing the forest for the trees!

This pick list highlights constituents of the Morningstar US Mid Cap Index that we believe offer investors the best risk-adjusted return prospects. The market capitalization range for U.S. mid-caps typically falls between $1 billion and $8 billion and represents 20% of the total capitalization of the U.S. equity market.

As if the stock market needed more help, now we have declining Treasury yields across the entire yield curve. Treasury yields fell consistently from October 19, 2023, until their most-recent bottom on December 27. That move certainly helped stocks rally off their October 27 low. Yields popped from 12/27/23 until 2/22/24 and stocks ignored the increase. Since their closing peaks of 4.33% a few weeks ago, both the 5- and 10-year yields have dropped to 4.1% while the 2-year has declined to 4.56% from 4.7%.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

Gold and silver have blasted off over the past two days, which just happens to coincide with a decent slide in Treasury yields. What is a bit strange is that the rally was not due to a big break in the U.S. Dollar Index (USD), which has been going sideways over the past few weeks. It is possible that the USD uptrend since late December is over, but we would like to see more technical evidence.

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 -- 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.

Almost two months in 2024, and stocks have seen more recovery highs and the major indices have seen more all-time highs. The S&P 500 (SPX) rose 1.7% in the week ended February 23, the S&P 100 popped 1.9%, the Nasdaq and the Nasdaq 100 added 1.4%, the S&P 400 tacked on 1%, and the Russell 2000 lost 0.9%. For the SPX, the '100,' and both Nasdaq indices, the week was the fifteenth of 17 on the upside; it is 14 of 17 for the '400.' During the 17 weeks, the SPX has gained 23.6%, while both Nasdaq indices are up over 26%. Those are great returns for a full year!

As stock prices continue to rise and the valuation band for stocks is stretched further, insider-sentiment data from Vickers Stock Research continues to show that corporate executives, directors, and beneficial owners are increasingly defensive. Is it time to run for exits? Likely no. But stock prices won't go up forever, so a sense of caution does seem to be warranted. And that is what insiders are clearly telling us.

Value stocks -- a market segment that includes high-yield stocks -- outperformed growth stocks in 2022. That's a recent rarity, as for more than a decade, the performance record favored growth. Since 2010, the Russell 1000 Growth Index has climbed more than 575%, compared to an advance of almost 200% for the Russell 1000 Value Index. In 10 of the past 13 years, growth stocks have topped value stocks. That hasn't always been the case. In the 2000-2010 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. Why the recent deviation in performance? Several reasons, including changes in the make-up of the economy, growth in intangible assets, and the current level of interest rates. But the tide turned back in 2022, at least for a while, as the rollout of COVID-19 vaccines gave a lift to some of the cyclical companies (energy and regional banks) that had lagged in recent years. While growth stocks have recaptured 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. The current yield on the iShares Russell 1000 Value Index ETF is 2.0%, compared to the 0.7% current yield on the iShares Russell 1000 Growth Index ETF. 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. Here's a baker's dozen that meet the criteria. These stocks are also featured in our High-Yield theme model portfolio.

In this edition, we explore the state of US auto market; margin of safety erased in US equity market rally; growing pains and growth in US equity market; and EOG Resources, Alnylam, and Pembina.

U.S. markets were mixed on Friday intraday following yesterday's rally. Recent comments from Fed officials indicate that the timing of the first interest rate is likely to come later rather than sooner. On the earnings front, shares of Carvana (CVNA) are up 33% after reported its first profitable year. The Nasdaq fell 0.1%, the S&P 500 was up 0.13% and the Dow gained 0.3%. Crude oil fell $2 to $76.55 per barrel, while gold rose $17 to $2048 per ounce.

U.S. markets rallied on Thursday morning on stellar Nvidia results. On the housing front, existing home sales rose 3.1% to an annual rate of 4 million, this up from 3.8 million in December. The median home sales price was $379,100, 5.1% higher than a year ago, but down from $381,400 in December. As for economic trends, S&P Global's flash readings for February's PMI show expansion in both services and manufacturing. Services activity slowed to 51.3, down from 52.5 in January, but remained in expansion territory. Manufacturing PMI expanded more quickly in February with a reading of 51.7, up from 50.7 in January. The tech heavy Nasdaq rose 2.6%, the S&P 500 was up $1.8% and the Dow gained 0.8%

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.

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.