Market Commentary

Markets limped into year-end but still closed out 2024 with solid performance. The S&P 500 finishing over 20% in back-to-back years has only occurred a few times since 1950. The other occasions were 1954-1955 and 1995-1998. That capped four straight years of +20% performance with 1999 falling just short of +20%. December weathered a significant […]

November was a strong month of market performance. Both the S&P 500 and the DOW finished at new all-time highs. The broadening out of the market became increasingly evident when viewing the sector rotation in trading. Money moved during the month into Consumer Discretionary (Nov +14.8%), Financials (Nov +12.5%) and Industrials (Nov +8.6%). The Healthcare

September closed out Q3 in the black across all four indices. The Small-cap Russell 2000 eked out a positive month after losing ground in August. The Small-cap story has stalled as investors have continued to invest into the Large-cap value and growth categories. Money Market and U.S. Treasury yields have moved lower. Utilities (+7.6%), Consumer

The month of June continued the strong performance in Technology (+11.34%), evidenced by the NASDAQ index for the month, 2nd quarter and YTD. Many of the names are also represented in the S&P 500. Small and mid-cap equities have underperformed YTD. Communication Services (+6.28%) and Consumer Discretionary (+5.26%) were also strong June performers. Utilities (-4.66%)

March closed out the first quarter in strong fashion. The Russell 2000 led the month’s positive performance charge, and both the S&P 500 (best Q1 since 2019) and DOW outperformed the NASDAQ. The broadening out of the market continued. The Magnificent 7 traded down for the last week in March in quarter-end rebalancing. Q1 earnings

December continued the upward market momentum begun in November. Exuberance over the possibility of Fed rate cuts carried the catchup/Santa Claus rally trade through to year-end. Small-cap outperformed while the Magnificent 7 continued to trade higher. A remarkable year in the markets, with plenty of ups and downs, highlighted by the concentration of just a