U.S. equities rallied in April, shaking off geopolitical concerns, oil price volatility and inflation jitters, thanks to strong corporate earnings and robust economic growth. In a dramatic turnaround from approaching the precipice of correction territory to subsequently reaching seven record closing highs, the S&P 500® gained 10%, marking its best monthly performance since November 2020. The rebound was broad based, with the S&P MidCap 400® and S&P SmallCap 600® rising 8% and 10%, respectively. Large-cap sector performance reversed [...]

U.S. equities navigated a turbulent first quarter, buffeted by a trifecta of tariff-related anxiety, renewed AI concerns, and private credit worries. Jitters escalated in March as the conflict in the Middle East reignited stagflation fears, and hopes for Fed rate cuts dissipated. Optimism returned to the market on the final trading day of the quarter, accompanied by a strong relief rally. Still, the S&P 500® closed the quarter down 4%, the worst quarterly performance since Q3 [...]

February was a challenging month for U.S. equities as growing scrutiny of AI-related capital expenditures and their associated impact on business models took a toll on large-caps, leading to the third weekly decline for the S&P 500. A worse than expected producer-price reading on the final trading day created renewed inflation jitters and dampened hopes for Fed rate cuts, with The 500 closing down 0.8% for the month. Market leadership shifted toward smaller companies, with [...]

U.S. equity markets capped 2025 with double-digit gains for the third year in a row, witnessing one of the most rapid recoveries on record after approaching the precipice of bear market territory in early April. Regardless of the poor prospects of a Santa Claus rally, the S&P 500® gained 18% and posted 39 record closing highs, amid geopolitical, tariff and inflation-related tensions coupled with a government shutdown and labor market concerns. The market’s comeback was powered [...]

A record-long government shutdown, concerns over elevated Big Tech valuations, and hawkish sentiment from the Fed initially rattled U.S. equity markets in November. Consumer sentiment fell to its lowest level since 2022 and VIX® soared to its highest reading since April. But there was plenty to be thankful for, most prominently a sharp rise in expectations for a December rate cut, which led to a strong turnaround for the S&P 500® in the last week of the [...]