Schwab U.S. Large-Cap ETF (SCHX) - NYSEARCA
  • Wed, Jun. 8, 12:45 PM
    • An S&P 500 close to all-time highs and stretched valuations combined with a lack of growth, a Fed intent on hiking rates, and the uncertainty of a Brexit and U.S. election make for an elevated drawdown risk, says Goldman Sachs Managing Director Christian Mueller-Glissmann, reminding that selloffs in excess of 20% in major indexes are not that infrequent of an event.
    • He notes the particularly low level of the VIX as maybe setting the market up for an abrupt decline.
    • High correlations between markets are an issue too, as it makes finding a place to hide out that much harder. What about bonds? During drawdowns last summer and again at the start of 2016, fixed-income was a way less effective hedge than during the EU debt crisis, or the 2014 global growth scare, he says.
    • Mueller-Glissmann last month downgraded global stocks to Neutral, and advised clients to turn to cash and corporate debt.
    • ETFs: CRF, SCHX, VV, USA, ZF, FEX, JKD, EEH, EQL, IWL, FWDD, SYE, SBUS, ZLRG, JHML, USSD, USWD
    | Wed, Jun. 8, 12:45 PM | 1 Comment
  • Wed, Jun. 1, 11:35 AM
    • The market may think it's braced for a summer rate hike, but it isn't, says BAML equity and quant strategist Savita Subramanian, warning of an up to a 15% decline in the coming months.
    • The Fed's rush to hike is at odds with what's currently a profits recession - at least two quarters of year-over-year negative earnings growth. The central bank has only done this three other times, she says, and on two of those occasions, the market sold off over the next 12 months.
    • Big beneficiaries of low rates like consumer staples (NYSEARCA:XLP) and utilities (NYSEARCA:XLU) are also the most expensive sectors, she adds, furthering her point that the market has not priced in a hawkish Fed.
    • ETFs: CRF, SCHX, VV, USA, ZF, FEX, JKD, EEH, EQL, IWL, FWDD, SYE, SBUS, ZLRG, JHML, USSD, USWD
    | Wed, Jun. 1, 11:35 AM | 5 Comments
  • Tue, May 31, 11:23 AM
    | Tue, May 31, 11:23 AM
  • Mon, May 16, 11:13 AM
    • The market strategist team led by David Kostin continues to expect the S&P 500 to end the year modestly above its current level, but has a list of six risks for a short- to medium-term drawdown in prices.
    • It starts with expensive prices, and at 16.7x earnings, the S&P 500 valuation ranks in the 86th percentile relative to the last 40 years. Other reasons include corporate buybacks: They've been highly supportive of stocks, but typically decline in the summer months.
    • Then there's interest rates. Markets currently are pricing in very little chance of rate hikes this year, and thus setting themselves up for a possible hawkish surprise.
    • ETFs: CRF, SCHX, VV, USA, ZF, FEX, JKD, EEH, EQL, IWL, FWDD, SYE, ZLRG, SBUS, USSD, USWD
    | Mon, May 16, 11:13 AM
  • Tue, May 10, 8:35 AM
    • Things are calm now, with the VIX near its lowest levels this year, and the S&P 500 not having moved more than 1% in either direction for more than a month.
    • A "vortex of negative headlines," coming in June could change things, says Bank of America's Head of U.S. Equity & Quantitative Strategy Savita Subramanian. Among those: the Brexit vote, the June Fed decision, and the U.S. election. "One of the things we've noticed is that about six months ahead of November in an election year, the market typically peaks and trends downward."
    • She also notes the curiosity of the Fed being in tightening mode during a corporate profits recession.
    • ETFs: CRF, SCHX, VV, USA, ZF, FEX, JKD, EEH, EQL, IWL, FWDD, SYE, ZLRG, SBUS, USSD, USWD
    | Tue, May 10, 8:35 AM
  • Mon, Apr. 11, 7:39 AM
    | Mon, Apr. 11, 7:39 AM | 12 Comments
  • Thu, Apr. 7, 8:59 AM
    | Thu, Apr. 7, 8:59 AM | 7 Comments
  • Sun, Mar. 27, 12:16 PM
    • While the stock market’s first weekly setback in six almost "seemed inevitable after the powerful rally since mid-February," the move from "risk" to "haven" assets "wasn’t nearly as clear-cut as it was earlier this year," Wells Fargo says in a note today. This suggests more of a “sobering-up” consolidation after a rally driven more by “short covering” than by economic and market “fundamentals.”
    • "In fact, safe-haven gold, Treasury securities and the Japanese yen all were lower on the week in a largely “take-no-prisoners” mode across most asset markets."
    • One notable exception was the investment-grade corporate sector, which continued to march higher "on a lingering “reach” for yield and apparent spillover from the rally in its European counterpart inspired by the European Central Bank’s (ECB’s) looming bond purchases."
    • Now read Earnings Estimates Are Absurd »
    • ETFs: CRF, VV, USA, SCHX, ZF, FEX, JKD, EEH, EQL, IWL, FWDD, ZLRG, SYE, SBUS, USWD, GSLC, USSD
    | Sun, Mar. 27, 12:16 PM | 8 Comments
  • Tue, Mar. 22, 3:48 PM
    • "If you’ve been waiting to buy and haven’t yet, it’s best to wait for a pullback at this point," says Bespoke Investment Group, noting shares are at extreme overbought measures, with 93% of S&P 500 stocks above their 50-day moving average. "We expect this breadth measure to cool off a bit."
    • Bespoke remains bullish over the longer-term though, noting the strong breadth is the opposite of what happened in the early part of last year when the S&P 500 was making new highs, but fewer stocks were participating. Eventually, a sizable correction came.
    • UBS is more bearish, calling the S&P the most overbought it's been since 2009. "We see the market vulnerable for a significant reversal this week, which we would see as the beginning of a tactical top building process and subsequent correction."
    • ETFs: CRF, VV, USA, SCHX, ZF, FEX, JKD, EEH, EQL, IWL, FWDD, ZLRG, SYE, SBUS, USWD, GSLC, USSD
    | Tue, Mar. 22, 3:48 PM
  • Tue, Mar. 15, 5:52 AM
    • In a note this morning, analysts at Jefferies sound a bullish tone, noting that relative calm has returned to the high-yield debt market and money-flows are normalizing. In their words:
    • "U.S. monetary conditions have loosened as the inflation rate has climbed and real rates have gone negative despite last year's rate hike. China's monetary conditions through the double whammy of a cut in the RRR and increased bank loan growth have further eased monetary conditions in the dollar bloc.
    • "The drop in non-OPEC oil production (primarily led by the U.S.) and tentative verbal agreements amongst some OPEC members appears to have put a bottom in oil prices.
    • "The bottom line is that the 'perfect storm' is passing and that a number of unrelated factors have caused monetary conditions to ease."
    • Contrast Jefferies' view with that of Morgan Stanley, who said yesterday there's a 30% chance of a U.S. recession.
    • ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, IVV, UPRO, SPXU, PSQ, TQQQ, SPXL, SPLV, RSP, SPXS, QID, SQQQ, PRF, QLD, CRF, DOG, DXD, UDOW, RWL, EPS, SDOW, VV, VFINX, USA, SCHX, DDM, IWB, OEF, ZF, SPHB, MGC, SPHQ, QQEW, QQQE, FEX, VONE
    | Tue, Mar. 15, 5:52 AM | 16 Comments
  • Mon, Mar. 14, 8:56 AM
    • Take advantage of the past few weeks' big rally to lighten up, suggests Morgan Stanley, cutting its year-end forecast for the S&P 50 to 2,050 from 2,175 (and against Friday's close of 2,022).
    • "The probability of a global recession has risen," says the team, now seeing U.S. GDP growth of just 1.7% this year, down from 1.9% previously. Outlooks for Europe and emerging economies were also cut.
    • They put the probability of global recession at 30% - the highest for this cycle.
    • Alongside this dour forecast, is, naturally, a positive one for bonds. They see the 10-year Treasury yield challenging its all-time ow of 1.38% by the end of Q3. It closed at nearly 2% on Friday.
    • ETFs: AGG, BND, BOND, PTY, CRF, RCS, VV, USA, SCHX, DBL, BTZ, HTR, PCM, SCHZ, ZF, JHI, BHK, FEX, JKD, TAI, EEH, BNDS, JMM, EQL, ICB, VBF, FBND, PAI, IWL, SAGG, IUSB, GBF, FWDD, ZLRG, SYE, VBND, SBUS, UBND, USWD, GSLC, USSD
    | Mon, Mar. 14, 8:56 AM | 4 Comments
  • Thu, Mar. 10, 4:54 PM
    • In a note this morning, Goldman does an about-face on its recent advice to buy S&P calls:
    • "The recent relief rally might be short-lived, especially with oil prices now at the upper end of our commodities team's forecast range for 1H 2016.
    • "We make no changes to our asset allocation at this stage as the relief rally has been too fast, in our view. We still do not feel comfortable taking more risk in equities until valuation or growth becomes more attractive.
    • "Although we believe the market has been too pessimistic, we think a key driver of the relief has been higher oil prices. With oil at the upper end of our commodities team's forecast range for 1H 2016, it could drive further volatility as we do not believe oil weakness is necessarily over.
    • March 9: Goldman: Don't bet on bond market convergence
    • ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, IVV, UPRO, SPXU, PSQ, TQQQ, SPXL, SPLV, RSP, SPXS, QID, SQQQ, PRF, QLD, CRF, DOG, DXD, UDOW, RWL, EPS, SDOW, VV, VFINX, USA, SCHX, DDM, IWB, OEF, ZF, SPHB, MGC, SPHQ, QQEW, QQQE, FEX, VONE, JKD, XLG, SPLX, EEH
    | Thu, Mar. 10, 4:54 PM | 32 Comments
  • Fri, Feb. 26, 10:48 AM
    | Fri, Feb. 26, 10:48 AM | 36 Comments
  • Tue, Feb. 16, 2:31 PM
    • BAML's fund manager survey showed cash positions this month rising to 5.6% - the highest level since Nov. 2001. Chief Investment Strategist Michael Hartnett says the contrarian indicator yields a "buy" signal when this gauge rises above 4.5% and a "sell" when below 3.5%.
    • Adding to his bullishness, just 5% of portfolio managers reported being overweight stocks, down from 21% a month earlier. At epic buying points in 2002, 2009, and 2011, this read turned negative, and we're nearly there now.
    • ETFs: CRF, VV, USA, SCHX, ZF, FEX, JKD, EEH, EQL, IWL, ERW, FWDD, ZLRG, SYE, SBUS, USWD, GSLC, USSD
    • Previously: BAML survey: Fear rises (Feb. 16)
    | Tue, Feb. 16, 2:31 PM | 17 Comments
  • Mon, Feb. 8, 1:28 PM
    | Mon, Feb. 8, 1:28 PM | 8 Comments
  • Mon, Feb. 1, 12:45 PM
    • We've moved into Phase 4 of the economic cycle, says Citigroup - that point when overextended stocks collapse in reaction to a contraction in credit. "This is the classic bear market, when equity and credit prices fall together," says Citi's Robert Buckland.
    • The good news is eventually the sun comes back up. In Citi's Phase 1 ( to follow Phase 4), interest rates have fallen, money is cheap, and stocks sport attractive valuations.
    • ETFs: CRF, VV, USA, SCHX, ZF, FEX, JKD, EEH, EQL, IWL, ERW, FWDD, ZLRG, SYE, SBUS, USWD, GSLC, USSD
    | Mon, Feb. 1, 12:45 PM | 1 Comment
SCHX Description
The fund provides exposure to large-cap U.S. companies. It seeks investment results that track the performance, before fees and expense, of the Dow Jones U.S. Large-Cap Total Stock Market Index℠ made up of approximately the largest 750 U.S. stocks.
See more details on sponsor's website
Country: United States
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub