Market Commentary

The month of January witnessed the averages finish positively to begin the year. The Russell 2000 (the small-cap index) turned in a stellar month. The index is essentially playing catch-up to the other averages. The NASDAQ eked out a gain, but investment dollars were moving and hunting away from The Magnificent Seven and Technology. Energy,

December didn’t develop a Santa Claus rally. The S&P 500, NASDAQ and Russell 2000 finished in the red. The DOW turned in a positive print for the month. Markets finished positively, with double-digit gains, for a third straight year. This has only happened six times since the 1940s. AI enthusiasm drove the 2025 positive market

November was an atypical bumpy ride that witnessed the indices go nowhere. The Technology sector retreated, giving back gains from September and October. The market oversold, and the rally began just before the shortened holiday trading week. The NASDAQ composite regained almost three quarters of its pullback. Trading in concentrated holdings from hedge funds distorted

October was a relatively quiet month, finishing on the plus side across all four indices. Mid-month saw the markets give back about 3% after hitting new highs. The pullback didn’t last but 3 trading sessions, and then the market promptly resumed its upward climb to new highs. The Gold rush cooled off, seeing outflows of

The S&P 500 climbed higher for three weeks in September. A pullback of 1.3%, over four trading days, couldn’t derail the momentum. The month finished by recouping the four-day swoon. The sector performance was mixed, again tilting to a concentration in Technology (+7.21%). Communication Services (+5.53%) and Utilities (+3.98%) round out the top sector gainers.

July continued the upward market momentum. The month was carried by the Technology sector. Specifically, the AI companies and those that support. Microsoft and Nvidia carried the load, while META played catchup at the end of the month with an outstanding earnings print. Amazon worked higher into the earnings release and then gave back July’s

April’s end-of-month momentum carried into and through the month of May. June, thus far, has seen a continuation of the positive momentum. After three consecutive down months, portfolios in May were rewarded with patience in holding on to the long investment theses in individual stocks. Q1 earnings proved to be stronger than anticipated. The S&P

April turned in a bumpy market ride. Only the NASDAQ index eked out a small percentage gain for the month. The tariff announcement (Liberation Day) by President Trump on April 2nd derailed the market. Technology names, already priced lower in March, fell further with the rest of the market. No sector was left unscathed. By

The month of March was a bumpy ride. The averages retreated back to summer and fall 2024 levels, continuing the slide that began in February. The Magnificent Seven has been repriced and only Netflix remains positive YTD through Q1. Small-Caps fell off dramatically and remain the worst area to invest with an uncertain investment backdrop.