February 2020 Perspective

February 2020 Perspective

Entering the New Year, our outlook for the global financial markets was relatively cautious, and it remains so today. We believe that given the extent of the strong rebound we had in 2019, with the S&P 500 up over 28%*, the US equity market was long overdue for a little breather and a correction of between 5 to 10%. While no one can predict what will spark a correction, it was evident to us that the market has been too complacent over these past few months. Even with signs of US economic growth starting to slow, and a multitude of extraordinary events such as the China trade situation, Iran conflict, Impeachment proceedings… and others, every market sell-off was met with strong buying. To us, this appeared to be a little irrational.

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November 2019 Perspective

November 2019 Perspective

As we look ahead to the closing months of 2019, we believe that many of the issues that created uncertainty and market volatility over the past year, continue to remain a concern. Regardless of these issues, the US stock market (as measured by the S&P 500 index) has been extremely resilient and hit a new all-time high in October. The positive momentum has been fueled by good corporate earnings results, stronger than expected US GDP growth, another interest rate cut by the Federal Reserve, and relatively positive reports on US-China trade negotiations.

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May 2019 Perspective

May 2019 Perspective

The US and China trade rhetoric ramped up in May and the equity markets responded with sharp declines from the all-time highs they reached in April. Investors were hoping for a peaceful resolution to the trade dispute and they were sorely disappointed. Following a few quarters of relative calm, President Trump surprised the markets by accusing China of renegotiating portions of the trade deal and imposed a sharp increase in Chinese import tariffs.

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2019 Second Quarter Perspective

2019 Second Quarter Perspective

Since the start of 2019, equity markets have been on a relentless run, posting one all-time high after another.  As April came to a close, each of the benchmark indexes listed in the charts below posted strong monthly returns.  In fact, for several of the indexes, January to April 2019 was the best four-month stretch in many years.

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2018 Market Overview

2018 Market Overview

The equity markets peaked on September 20, 2018, when the S&P 500 Index reached 2,930. From that point forward, worries and panic selling set in for the remainder of the year and investors were greeted with extreme volatility and an almost 20% pullback.

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Making Sense of Current Market Volatility

Making Sense of Current Market Volatility

As of yesterday’s market close, the S&P 500 is at a 15-month low, with 60% of its stocks in what is considered, “bear market” territory (down 20% or more) and 9 of 11 industry sectors now trading at what is considered “correction” levels (down 10% or more).  I’m sure investors don’t really care what it is called (bear market or correction), the bottom line is that the markets have been awful for investors since October.  In fact, the equity markets are now officially having the worst year since 2008.

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This site is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security which may be referenced herein. We suggest that you consult with your financial or tax advisor with regard to your individual situation. This site has been published in the United States for resident of the United States. Persons mentioned in this site may only transact business in states in which they have been properly registered or are exempt from registration.

Advisory Services offered through: Premier Wealth Advisors, LLC. (PWA) & First Allied Advisory Services, Inc. (FAAS). Both Registered Investment Advisors. Securities offered through: First Allied Securities, Inc. A Registered Broker/Dealer. Member: FINRA/ SIPC. PWA is not affiliated with First Allied Securities, Inc and/or FAAS.

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