Q2 2023 Market Commentary

It was refreshing to get a glimpse of positive sentiment as we closed out the second quarter at the top of our Dow JonesIndustrial Average (DJIA) trading range of 33,000 to 34,500. Improving sentiment and the focus on Artificial Intelligence (AI)were driving factors...

Q1 2023 Market Commentary

Despite breaking news during the First Quarter of another possible financial crisis, equity markets remained resilient and closedout the last week of the quarter on a positive note. All three benchmarks, Dow Jones Industrial Average (DJIA), S&P 500 andNASDAQ,...

Q4 2022 Market Commentary

U.S. equity markets closed out 2022 at the lower end of our Dow Jones Industrial Average (DJIA) target range of 33,000 to34,500 resulting in a return of -7% for the tumultuous year. Given the 2022 close and the expectation of revisiting 2022 highs inthe latter part of...

Q3 2022 Market Commentary

Recession concerns continued to stalk capital markets throughout the Third Quarter after a difficult first half of the year despitesoftening inflation data. A Consumer Price Index (CPI) spike of 9.1% in June was followed by a relatively lower July reading of8.5%. This...

Q2 2022 Market Commentary

Let us begin by briefly reflecting on the point that contributed to the worst first half of a year for equity markets since 1972. The May inflation reading of 8.6% exceeded expectations and caused a swift reaction from the Federal Reserve. The 75-bps rate increase...

Q1 2022 Market Commentary

Equity markets navigated a partial recovery from recent lows as the First Quarter closed in the red. The S&P 500 was down4.6% as global concerns continue to cast an ominous shadow on capital markets. In addition to lingering reports on the status ofCOVID-19 cases,...

Q4 2021 Market Commentary

The last quarter of 2021 started on a positive note as we recovered from a downturn during the month of September. Despitethe lack of complete answers to issues such as inflation, the direction of the Federal Reserve and the mystery that is the labormarket, the belief...

Q3 2021 Market Commentary

After contently watching domestic equity markets hover near all-time highs during most of the third quarter, markets eventuallysuccumbed to rotating concerns resulting in the S&P 500 pullback of 4.76% during the last month of September. As we remainconfident in...

Q2 2021 Market Commentary

It is remarkable that we have already moved through the first half of 2021, and yet, the passage of time appears to be moving slowlyas we continue to monitor economic indicators for clarification on the global path of recovery. Two persistent issues remain at...

Q1 2021 Market Commentary

Equity markets continued their march upward during the first quarter of 2021 supported by economic hope and a recovery in corporatefundamentals. As we move along the vaccination timetable, a sense of light at the end of the pandemic tunnel becomes morepalpable even...
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