Category: All Cap Value Commentaries

U.S. equity markets overcame significant geopolitical headwinds, an oil shock and persistent inflation and interest rate anxieties to deliver a remarkably resilient and robust performance during the first 6 months of 2026.  The S&P 500® composite increased 9.6% for the first 6 months of the year with a total return (including dividends) of 10.2%. Driving…

US stocks continued to lift higher during 2025 with the S&P 500® up more than 16% for the year. The strong year capped off a solid 3-year run of nearly 80% appreciation since the start of 2023. The strong year started out unsettled as Trump’s “Liberation Day Tariffs” in early April pushed the S&P 500®…

During the first half of 2025, the US stock market experienced extraordinary volatility as investors grappled with trade tensions and geopolitical risks in the Middle East and Ukraine. Leading the uncertainty in the first half was the return of aggressive US tariffs under the newly elected Trump administration which triggered threats of reciprocal tariffs from…

US stocks continued to lift higher during the back half of 2024, with the market strength rounding out 2 years of strong appreciation. During 2024, the S&P 500® appreciated 23.3% which added to a 24.2% return for 2023. The strength in equity markets has been fueled by a healthy economy which has been driven by…

During the first half of 2024, the US stock market experienced a mix of volatility and growth, impacted by a range of economic and geopolitical factors. During most of the six-month period, the economy and inflation continued to run hot even with the recent headwinds from higher interest rates, as the Federal Reserve continued to…

The second half of 2023 experienced strong performance from stocks and bonds as inflation continued to cool, and the economy continued to grow. Inflation’s recent moderation has been driven by lower energy prices, improving supply chain costs and Federal Reserve tightening. Even with the sharp increase in Federal Reserve tightening, the economy has remained surprisingly…