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Quarterly Market Perspective for 3Q21

Summary While it is technically true that the S&P 500 stock index added 0.58%[i] in the third quarter, it really didn’t feel that way.  Small cap U.S. stocks declined, midcap U.S. stocks declined, and foreign stocks declined - both developed…

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Quarterly Market Perspective for 2Q21

Summary Stocks maintained their strong advance in 2021 by adding another 8.55%[i] last quarter.  Technology, Energy, and Real Estate led the way.  Economically, that makes little sense – technology, as a long-dated asset, should benefit from disinflation while energy (a…

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Quarterly Market Perspective for 1Q21

Summary The stock market’s recovery continued in the first quarter of 2021 as all major categories of stocks made new highs.  For the quarter, U.S. stocks gained 6.17% (as measured by the S&P 500).  That said, the quarter was anything…

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Quarterly Market Perspective for 4Q20

Summary The stock market’s recovery from the COVID-influenced market sell-off in March accelerated last quarter as multiple pharmaceutical companies announced successful vaccine trials.  This news enabled investors to put a timeline on a return to normalcy.  They responded by shifting…

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Quarterly Market Perspective for 3Q20

Summary  The U.S. stock market gained 8.9%[1] last quarter as investors gained confidence that the worst of the COVID 19 crisis was behind us.  Ten of the eleven industry sectors gained ground, four of them by more than 10%.  The…

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