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Monthly Market Update

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.

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Most Recent Update

June 2024 Monthly Market Update

The post-COVID economic recovery has been notably uneven, often described as “K-shaped”, due to the divergence in economic realities for Americans. Those with substantial assets and high incomes have largely done well. Homeowners with low mortgage rates and no need to take on debt have been insulated from higher interest rates. Strong stock market returns […]

July 2023 Monthly Market Update

Stocks rallied in July amid low volatility with the Dow Jones Industrial Average recording 13 straight days of gains. The S&P 500 index climbed 3% on the month, on broad strength among sectors and stocks. Improving market breadth comes as a healthy change vs. the first six months of the year when the S&P 500’s […]

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June 2023 Monthly Market Update

The S&P 500 stock market index rallied 8% in the second quarter, bringing year-to-date gains to 16%. The phrase “it’s a market of stocks, not a stock market” has perhaps never been more appropriate. The S&P 500 is market capitalization-weighted; meaning higher valuations hold larger weights in the index’s overall performance.  More than 2/3 of […]

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May 2023 Monthly Market Update

May was the month of AI for the stock market, though artificial intelligence-related stocks had been gaining momentum since the fall release of OpenAI’s Chat-GPT3. This groundbreaking technology has sparked enthusiasm among investors, and its potential impact on companies and the economy cannot be ignored. Semiconductor designer Nvidia’s May 24th earnings announcement and guidance stoked […]

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April 2023 Monthly Market Update

April was a relatively calm month for U.S. stocks. The S&P 500 advanced 1.6%, continuing a strong start to the year; the index has now risen 9.2% through April. Nevertheless, gains in the popular U.S. benchmark index have not been broad-based. The S&P 500 is a market-capitalization-weighted stock index of the 500 largest U.S. public […]

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March 2023 Monthly Market Update

The first quarter of 2023 saw some progress in inflation data and a surge in investor enthusiasm around artificial intelligence. Nonetheless, the March failures of Silicon Valley and Signature Banks were the story of the quarter. Bank failures are not out of the ordinary. The Federal Deposit Insurance Corporation (FDIC) counts just five years without […]

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February 2023 Monthly Market Update

February was a case of good news is bad news, or to be more specific, good economic data was bad news for stocks and bonds. Economic data continues to point to a resilient US economy, shrugging off higher interest rates. Retail sales reaccelerated in recent months, with real (after inflation) incomes on the rise. Fourth […]

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January 2023 Monthly Market Update

Stocks rallied to start the year, with the S&P 500 climbing 6.3% in January. Bullish inflation data and a lower U.S. dollar provided fuel for the rally. The Federal Reserve slowed interest rate hikes to just a 0.25% increase on February 1st. The milder inflation data and slowing pace of interest rate hikes have led […]

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December 2022 Monthly Market Update

2022 was the year markets were reminded of the risks posed by high inflation. Unfortunately for investors, this reminder came at a cost. Higher interest rates, intended to address high inflation, had an adverse effect on stock and bond performance. Bond prices move inversely to interest rates, so as rates rise, bond prices fall. The […]

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November 2022 Monthly Market Update

US stocks rallied in November, fueled in part by better-than-expected inflation data early in the month.  The S&P 500 recorded its biggest one-day gain of the year, rallying 5.5% on November 10th, following the Bureau of Labor Statistics’ Consumer Price Index (CPI) data release. While inflation remains, markets celebrated continued indications that inflation is easing. […]

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October 2022 Monthly Market Update

Stocks rebounded in October, with the S&P 500 gaining 8% and the Dow posting its largest monthly gain since 1976, up 14%. Bond markets stabilized following the U.K.’s abrupt fiscal policy turn towards less deficit-financed spending. For over a decade, bond markets rarely reacted significantly to governments borrowing heavily to fund larger deficits. With high […]

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