MARKET REVIEW In 2Q21, the S&P 500 returned 8.55% and the S&P MidCap 400 returned 3.64%. MACRO OBSERVATIONS 10-year U.S. Treasury rates fell from 1.75% to 1.5% after a one-year increase from near 1.0%. The decrease helped equities in the second quarter. Inflation – Oil rose 18.1% and a basket of other commodities increased 9.4% […]
MARKET REVIEW In 1Q21, the Russell 2000 returned 12.70% and the S&P 500 returned 6.17%. Bullish sentiment continued through early February until inflation fears increased and the long end of the yield curve began to rapidly rise. This caused a risk-off period for higher growth stocks and a significant rotation out of growth into value […]
MARKET REVIEW In 1Q21, the S&P 500 returned 6.17%. There was a significant rotation out of growth into value late in the quarter – the S&P 500 Value Index returned 10.58% in Q1 while the S&P 500 Growth Index finished up 2.06%. Source: Zephyr Informais MACRO OBSERVATIONS We believe accommodative policies have long provided tailwind […]
MARKET OVERVIEW In 4Q20, the S&P 500 returned 12.15%; Russell 2000 returned 31.37%. For the year ending December 31, 2020, the S&P 500 returned 18.40%; Russell 2000 returned 19.96%. During 4Q20, low-quality and value factors outperformed, while high-quality, momentum and low-volatility underperformed.[1] [2] Top-performing industries were energy, materials, financials and consumer discretionary as COVID-19 vaccines […]
MARKET OVERVIEW In 4Q20, the S&P 500 returned 12.15%; Russell 2000 returned 31.37%. For the year ending December 31, 2020, the S&P 500 returned 18.40%; Russell 2000 returned 19.96%. Recent commentary indicates accommodative monetary and fiscal policy, which have long provided a tailwind for equities, will continue. In late August, the Federal Reserve adopted a […]
Market Review U.S. equities rallied for the second quarter in a row; S&P 500 returned 8.93% in 3Q20; Russell 2000 returned 4.93%. YTD at September 30, the S&P 500 returned 5.57%; Russell 2000 returned -8.69%. 3Q20 experienced significant improvement in economic activity and a recovery in the U.S. labor market. Companies were able to navigate […]
MARKET REVIEW U.S. equities rallied for the second quarter in a row; S&P 500 returned 8.93%; Russell 2000 returned 4.93%. YTD at September 30, the S&P 500 returned 5.57%; Russell 2000 returned -8.69%. 3Q20 U.S. GDP estimates called for 32% quarter-on-quarter growth, well ahead of the initial 12% estimate on July 311. In late August, […]
MARKET REVIEW U.S. markets moved sharply (although not broadly) higher from March lows in response to dramatic fiscal and monetary action. Social distancing drove very rapid business model change, rewarding companies that support virtual work, and harming service and high contact businesses. COVID-19 put enormous physical and economic strain on healthcare systems and providers, while […]
MARKET REVIEW In 2Q20, U.S. equities rallied from their worst quarter since 2008; S&P 500 returned 20.54%; Russell 2000 returned 25.42%. YTD at June 30, the S&P 500 returned -3.08%; Russell 2000 returned -12.98%. The March 23 market bottom was coincident with the Fed’s announcement of unlimited quantitative easing and the House’s passage of The […]
May 14, 2020 – The Money Life with Chuck Jaffe podcast today features Chris Retzler and Needham Small Cap Growth in the “Market Call” and “Hold ‘Em or Fold ‘Em” segments. Please click for 16-minute audio including Chris. The full one-hour program is widely available on podcasting sites, or directly from Money Life at: http://moneylifeshow.libsyn.com/stay-home-technology-stocks-will-weather-markets-next-move-well […]