Insights

Summary U.S. stocks added another 2.6% last quarter, bringing its full year return to 17% [1] .  It was a rather subdued quarter compared to the previous three quarters, and once again international stocks performed substantially better.  Investors felt a little more cautious about technology stocks last quarter as concerns grew as to whether the hundreds of billions being spent on artificial intelligence (AI) would have the kind of payoff that big tech stock prices implied.