Markets in Brief: U.S. equities ended December mostly lower after the rally in November. Technology companies outperformed (specifically the Nasdaq index) despite Nvidia’s relative weakness (-2.8%), while smaller companies struggled as measured by the Russell 2000 index from interest rates moving higher again. The dollar index strengthened 2.6% on the back of higher interest rates […]
Markets in Brief: In November, U.S. equities rallied and finished higher for the ninth time in the last eleven months. The S&P 500 ended the month up 26.5% for the year, on track for consecutive annual gains of at least 20% for the first time since 1998. The dollar rallied on the back of the […]
Markets in Brief: In October, U.S. equities finished lower as the S&P 500 broke a streak of five-straight monthly gains, while the Technology-heavy Nasdaq index was lower for the first time in three months. The big story of the month was the backup in Treasury yields as the market priced in a potential Trump election […]
Markets in Brief: In September, U.S. equities finished higher with the S&P 500 and the Dow Jones both up for a fifth straight month, with the former up over 20% YTD along with the tech-heavy Nasdaq index. While stocks were mostly higher over the month, things got off to a rough start with the S&P […]
Markets in Brief: In August, markets ended the month higher after big swings to start the month. The topic of the month was the “Yen Carry Trade” unwind leading to heightened volatility in the first two weeks of August. The spark notes: investors were borrowing in Japanese Yen, a cheap currency, to buy assets denominated […]
Markets in Brief: In July, markets remained choppy as investors weighed whether big Technology companies can deliver on their heavy AI-related investment. There was a large rotation into companies outside of the most popular trades (like those AI names) as investors looked for other ways to capture market upside. Focus now turns to central bank […]
Markets in Brief: In June, markets continued to price in an outcome consistent with a growing economy, low unemployment, and ample liquidity. An improvement in valuations (or “multiples”) primarily drove the ~4% gain in the S&P 500 in June. Treasuries also saw reprieve with moments of positive gains over the month, rallying slightly after another […]
Markets in Brief: In May, equities resumed their charge higher over the month on the back of encouraging inflation data, further normalizing economic growth data, and optimism over the durability of artificial intelligence as an investment theme. Tech stocks, proxied by the Nasdaq index, were up ~4% over the month as NVDA and others propped […]