Market Commentary

July witnessed the averages churn in a volatile month. NASDAQ was hit the hardest as Technology winners retreated. Cap Ex worries, from big AI spenders, weighed heavily in the selling activity. ROI (return on investment) timelines for AI investment, coupled with a strong run-up in market values since March, added to the drawback. The Iran

June’s market performance was a mixed bag in closing out the first half of the year. The NASDAQ and S&P 500 both traded lower for the month, while the DOW and Russell 2000 ended in the black. The AI trade witnessed the hyperscalers moving from self-funded capex to debt and equity issuance…opening up rate sensitivity

S&P 500:                             May    +5.15%                     YTD    +10.73% DOW:                                   May    +2.78%                     YTD    +6.18% NASDAQ:                           May    +8.36%                     YTD    +16.05% Russell 2000:                    May    +4.27%                     YTD    +17.62% May trading ended with software stocks reversing their downtrend

The market witnessed the month of March retreat into negative territory for 2026. On the last trading day of the month, markets bounced off the lows and powered higher through April after a sideways start. The S&P 500 hit a new high April 30th and has continued to climb into the first full trading week

March turned in a negative, volatile month for the market. April kicked off with a continuation, pushing the averages lower. The war in Iran escalated the downward pressure on the market. Crude oil hit $111.54 per barrel at the end of March. Prices at these levels were last seen in June 2022. As goes oil,

The DOW and Russell 2000 indices had an early bump higher in February to begin the month. Gains were promptly given up before the first week’s trading was finished. The S&P 500 traded meekly out of the chute before heading lower. The NASDAQ retreated right away to start February and continued on that trend. Trading

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