The Monthly Market Update is part of our ongoing commitment to investor education and research. These posts often spark discussion and provide insight into our perspective on current financial markets and economic events.
Most Recent Update
The S&P 500 closed June down 1.1%, a muted end to a strong quarter. Concerns on the sustainability of the AI boom offset positive developments in the Iran conflict. A fragile ceasefire between the U.S. and Iran and some increased shipping traffic through the Strait of Hormuz led to a large decline in oil prices. […]
U.S. stocks moved higher in May, with the S&P 500 capping off nine consecutive weeks of gains. The market’s upward momentum was fueled by red-hot artificial intelligence (AI) stocks, as investors remained largely unperturbed by continued shipping disruptions in the Strait of Hormuz. Beneath the surface, however, the S&P 500 increasingly represents a concentrated bet […]
Continue Reading ›Over the past several weeks, U.S. equities generally moved higher, rebounding from an earlier slump and getting an additional lift as Middle East headlines tilted toward de-escalation. The S&P 500 (+10.42% in April) and Nasdaq (+15.29% in April) pushed to fresh highs at points, although the advance often felt narrow, with mega-cap technology and semiconductors […]
Continue Reading ›Stocks and bonds declined in March as conflict in the Middle East drove up prices for a broad set of commodities, from fertilizers and plastics to natural gas and oil. Pre-war, the Strait of Hormuz, handled roughly 20% of global crude oil and 20% of the world’s liquified natural gas (LNG). While global oil stockpiles […]
Continue Reading ›The S&P 500 declined 0.87% in February, after a modest increase in January. Market dynamics were driven less by index‑level movements and more by sector‑specific shifts. Software and consulting companies were under pressure amid rising concerns about potential disruption from accelerating advances in artificial intelligence. Losses deepened following the publication of a pessimistic AI scenario […]
Continue Reading ›January marked a solid start to the year for markets with the S&P 500 closing up 1.4% and the Dow Jones closing up 2.1%. Unlike the concentrated trend of 2025, stocks seemed to broadly rise with the equal weight S&P 500 index outperforming the traditional S&P 500, which is weighted based on market size, by […]
Continue Reading ›Stocks posted another year of gains in 2025. As investors look to 2026, many of the same core themes apply: tariff policy, interest rates, and AI. The April tariff-driven selloff, which pulled the S&P 500 down 15% earlier in the year, proved short-lived as concerns regarding corporate profits and consumer spending failed to materialize. In […]
Continue Reading ›This month’s macroeconomic discussion is centered on the recent government shutdown, Federal Reserve policy, and consumer dynamics. The longest government shutdown in U.S. history concluded after 43 days, following Congress’s approval of a stopgap spending bill effective through January 30. While the shutdown itself was not a major market driver, it resulted in a significant […]
Continue Reading ›The Federal Reserve delivered its second consecutive 25-basis-point rate cut on October 29, lowering the federal funds rate to a range of 3.75%–4%. However, Chair Jerome Powell emphasized that another cut in December is “not a foregone conclusion,” reflecting a growing divide among policymakers. The decision comes amid persistent inflation—CPI rose to 3% year-over-year in […]
Continue Reading ›The third quarter saw continued momentum in the AI trade, falling interest rates, and more trade deals reached with foreign nations. In September, the Fed announced its first rate cut of 2025, cutting the policy rate by 0.25%. This cut was widely expected given weak employment data. As rate cuts materialize, stocks and the economy […]
Continue Reading ›U.S. stocks continued to grind higher in August, with the S&P 500 advancing 1.9% and notching a new record high late in the month. The Dow and Nasdaq also posted gains, marking the fourth consecutive monthly increase for the major indices. Volatility remained muted as investors weighed a mix of softer labor data, ongoing debate […]
Continue Reading ›Stocks crept higher through July, with the S&P 500 notching numerous successive all-time highs and closing up 2.2% from the end of June. One driver of the market’s performance was favorable tariff news. Notable trade deals were announced with major U.S. trading partners in July, namely Japan, South Korea, and the European Union. The market […]
Continue Reading ›Stocks saw steep declines early in the second quarter as the severity of the April 2nd tariff announcements caught investors by surprise. These new tariffs included broad-based import duties as well as targeted levies on steel, aluminum, and autos. By April 8th, the S&P 500 was down 11.2% from the start of the quarter and […]
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