As we move into the final quarter of 2023, the first half’s market rally has slowed in Q3. Year to date, the S&P is still up 12% and the tech-heavy NASDAQ is up 28%, but Q3 was the first negative quarter of the year, pulling the S&P down by -3% and the NASDAQ by -4%.…
We made it to the halfway point of 2023, and like the first quarter, the market has continued to rally. Year to date, the S&P is up almost 17%, the tech-heavy NASDAQ is up over 32%, and MSCI ACWI Ex USA (the world excluding the U.S.) is up almost 10%. However, digging a little deeper,…
The first quarter of 2023 is already behind us and what a change from our last note. Year to date the S&P is up 7.5%, the Nasdaq is up 17%, and MSCI EAFE is up 6.7%. Growth outpaced value as fear of missing out took over after 2022’s losses. Yet despite the gangbuster start to…
2023 is upon us and most investors are happy to bid 2022 adieu. It’s been a turbulent year, to say the least, with inflation, aggressive rate hikes, war, and significant losses across asset classes. Correlations between equities and fixed income turned positive, and investors felt the sting of losses in equities and bonds simultaneously. The…
The third quarter of 2022 has brought little reprieve since our last writing. The S&P is down -23.9% YTD and the Nasdaq is down -32% YTD. Bonds haven’t fared much better with the Barclay’s Aggregate down -14.6% YTD. The Federal Reserve continues an aggressive pace of rate increases, yet inflation remains stubbornly high. The market…
The second quarter of 2022 seems to have eclipsed the first in negative news. We entered into a technical bear market and have chalked up the worst first half for the S&P 500 since 1970. At the end of Q2, the S&P was down -16% YTD and NASDAQ was down -29%. As we predicted last…
The ever-increasing inflation and the subsequent economic tightening of the Federal Reserve in response dominated the first quarter of the 2022 market. Surprisingly, the COVID headlines we’ve seen for two years have begun to fade into the background. Unfortunately, that doesn’t mean COVID’s effects on the supply chain have eased: China is still amid a…
2021 ended with the S&P 500 up nearly 27% and the NASDAQ up 21%. Year to date, US Large Cap Growth outperformed Value by almost 10%. For a year marked by uncertainty, the market produced fantastic returns. Looking back, the S&P was up 16% in 2020 and over 28% in 2019. That’s three years of…
As we enter the third quarter of the year, the stock market is at new highs, Treasury rates are historically low and the economy is running hot. Shortages, long delivery times, a glut of service workers, and booming demand for nearly everything will make for an interesting summer. True to form, stocks are at all-time…
As we enter the second quarter of the year, U.S. stock markets are at all-time highs, interest rates are historically low, and the economy is growing faster than it has in decades. We’re now vaccinating over 3 million people per day, with over 165 million doses administered so far. Life is returning to normal and…
