The second quarter of 2026 delivered a sharp reversal from the year's difficult start. The S&P 500 gained 15.2%, while U.S. small-cap stocks rose 19.7%. Technology led the recovery, supported by …
1st Quarter 2026
1st Quarter 2026
The first quarter of 2026 delivered a mixed start to the year, with equity markets facing early pressure while other asset classes showed resilience. U.S. large-cap stocks declined -4.3% year-to-date, …
4th Quarter 2025
4th Quarter 2025
Stocks and bonds remained resilient in the 4th quarter, overcoming concerns about the U.S. job market and AI (artificial intelligence) spending to add a few percentage points to the strong overall …
3rd Quarter 2025
3rd Quarter 2025
After a volatile first half of the year, markets settled into a more measured pace in the third quarter. Investors weighed slower economic growth against encouraging signs from the Federal Reserve and …
2nd Quarter 2025
2nd Quarter 2025
We started the quarter with President Trump announcing sweeping tariffs that sparked havoc in the markets. Then we shifted to the One Big Beautiful Bill Act, which grants a permanent extension of the …
1st Quarter 2025
1st Quarter 2025
The first quarter of 2025 saw a stark contrast to Q4 2024, with large-cap U.S. growth stocks (LC growth) falling over 8%, while diversified portfolios outperformed. International stocks and bonds …
4th Quarter 2024
4th Quarter 2024
As we gear up for 2025, many of the major themes that drove the market higher last year remain in place. The economy is expanding, and corporate profits are expected to remain on an upward trajectory. …
3rd Quarter 2024
3rd Quarter 2024
We are happy to report that stocks continued their strong momentum from the 2nd quarter and bonds joined the party as well. With interest rates dropping, bonds rallied. While large cap growth U.S. …
2nd Quarter 2024
2nd Quarter 2024
Stocks advanced through the 2nd quarter to post strong first-half gains. While the S&P 500 index rose 3.9%, a small group of stocks in the index delivered most of the outperformance. …
1st Quarter 2024
1st Quarter 2024
It was a strong quarter for stocks and a relatively flat one for bonds. According to Bloomberg, stocks (defined by the S&P 500) had their best first quarter in 5 years. Profits rose 3.1% from a …
4th Quarter 2023
4th Quarter 2023
What a difference a year makes. At the start of 2023, market pessimism was widespread, investors braced for a recession, and many expected another down year in stocks. Instead, the economy proved …
3rd Quarter 2023
3rd Quarter 2023
After a strong first half of the year, there were not many places to hide in the third quarter. As the Green Day song goes, many investors wanted to tell their investment advisers to “wake me up when …
