Market Commentary

SUMMARY As of January 12, 2024 Despite early 2023’s recession fears and banking crisis, the market rallied with U.S. large cap stocks up 26.3% and U.S. intermediate-term bonds up 5.5%, buoyed by moderating inflation. This year’s positives included a resilient U.S. consumer, a tight labor market, and a nascent artificial intelligence boom, although some negatives—including…

Summary As of October 13, 2023 The S&P 500 ended September down 3.3%, reinforcing September’s reputation as the worst month of the year for stocks. The Bloomberg U.S. Aggregate Bond Index, which ended the quarter down 3.2%, is down 15% over the past three years in the largest three-year decline in history. Strategic Petroleum Reserve…

Summary As of July 19, 2023 The first half of 2023 has been anything but ordinary—from a banking crisis in March and a near-miss with a U.S. debt default to the flurry of excitement in Artificial Intelligence and anything related to it. On the surface, U.S. stocks continued to push higher during the quarter. The…