In spite of weak macroeconomic data and fears of a resurgence of COVID-19, U.S. equities continued their rally in July, aided by Fed stimulus and strong earnings results  The S&P 500® gained by 6%, while the S&P MidCap 400® and the S&P SmallCap 600® gained by 5% and 4%, respectively. The total return for the S&P 500 is now modestly positive year to date. Volatility declined, with the VIX® closing the month at 24.46. International markets also gained, with [...]

After March's carnage, U.S. equities roared back in April, driven by fiscal stimulus and the apparent slowing of the spread of COVID-19. The S&P 500® gained by 13%, the best monthly performance since January 1987. In a reversal from the recent past, mid-caps performed even better, with the S&P MidCap 400® up 14%. While still relatively high, volatility calmed, with the VIX® closing the month at 34.15. International markets also recovered, with the S&P Developed Ex-U.S. BMI and [...]

Clients and Friends: Our firm is busy monitoring the current market conditions, events and client accounts.  Here is a brief overview of recent events: Last week was one for the history books. Tuesday: the highest percentage gain for the Dow since 1933.  Thursday: record new unemployment benefit claims of 3.3 million—doubling some estimates. In the end, the Dow finished the week in the green. Dow Jones Industrial Average*   Monday Tuesday Wednesday Thursday Friday The [...]