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- June 2010
After experiencing a 9% correction in late January into early February, stocks continued to grind higher with the S&P 500 reaching an interim high of 1,210 on 4/23/09, fueled by ongoing improvement in both economic and corporate fundamentals. The market initially withstood selling pressure following the government lawsuit against Goldman Sachs until ECB indecision over how to handle the Greek sovereign debt problem fueled fears that this crisis could spread into a global contagion. Read More
- February 2010
After advancing 26% during 2009, stocks (as measured by the S&P 500) continued to rally through the beginning of the year before selling brought prices down 8% from their January 19th post crash highs. The S&P 500 closed at 1,070 on 2/9/10, down 4% for the year, up 58% from its March, 2009 low and down a net 32% from its October, 2007 peak. Read More
- November 2009
The rally in stock prices from their March 9th lows showed possible signs of fading in October. Prices twice appeared headed to test the 1,000 level of the S&P 500 at the beginning and again at the end of the month. Positive economic news since then, however, pushed prices through their recent high of 1,097, last reached on October 19th as well as the 1,100 level. Read More
- August 2009
After rallying 15.9% in the second quarter, stock prices (as measured by the S&P 500) continued to advance through July and early August. Stocks have advanced approximately 12% so far for the year after initially being down 12% through the end of the first quarter. The S&P 500 closed at 1,010.48 on Friday August 7th. Read More
- March 2009
After rallying over 24% from its November, 2008 bottom, the market turned down again in January and February. Hope and then skepticism over the $788B Congressional Stimulus
Plan saw prices decline further through the first week of March, with the S&P 500 testing and initially holding it’s November 20, 2008 intra day low of 741. The market subsequently
pushed through this resistance point on 2/27, before closing at 683 on March 6th. Read More
- November 2008
The third quarter was not a good one for stocks, with the S&P 500 declining 8.4%. The decline gained momentum at the end of September, followed by one of the worst Octobers for stocks since 1938 (down 17%). As of the end of October,
stocks are down 34% for the year and 38% from their October, 2007 peak. The year to date declines in International (EFA down 43%) and Emerging
Markets stocks (EEM down 49%) were even more severe. Read More
- August 2008
After falling 15% from their
October 2007 peak through
early March, stock prices
appeared to have bottomed, as
indicated by the 8% recovery
in prices that occurred in April
and May. Soaring oil prices,
declining home values and
growing concerns over not
only corporate earnings but
also rising inflation and unemployment,
however, translated
into a decline of over 8% in
June. Read More
- May 2008
At the time of our last update in February, stocks were showing some strength, stemming for a time, their decline from record highs reached in October, 2007. The markets remained volatile for the remainder of the first quarter, trading sideways within a roughly 10% range. Through April 23rd, the S&P 500 is down approximately 5% year to date after being down as much as 13% for the year during March. Six month Treasury Bills are currently yielding 1.7%, ten year Treasury Notes 3.82% and the 30 year, 4.56%. Read More
- February 2008
After recovering from its
August selloff to reach new
highs in October, stocks (as
measured by the S&P 500)
declined over 3% during the
fourth quarter, finishing the
year with an overall advance
of 5.5%. Continued credit,
housing and recession-related
fears spurred further declines
during January, pushing prices
down 19% from their October
highs to new intra-day lows
on January 23. The next
eight days brought a sharp,
10% recovery, leaving the
index down 6.1% for the year
through the end of January. Read More
- November 2007
Stocks continued to show resiliency during the remainder
of the third quarter despite lingering concerns over the decline in the US housing sector and the on-going sub-prime lending crisis. The S&P 500 closed the quarter up approximately 9% for the year, only slightly below its July 19th all-time high of 1,553. Read More
- September 2007
Stocks rose 6% during the second quarter and were up 7% for the year as of 6/30/07. The rally continued through mid-July before the tide turned after July 19th. Stocks subsequently declined, trading as low as 12% below its new all time high before stabilizing.
The market has since recovered approximately 8% from its 8/16 intra day low. Read More
- May 2007
While experiencing more volatility than has been the recent norm (but certainly not by long-term historical standards) the broad US stock market as measured by the S&P 500 finished the first quarter up approximately 1%. The index had advanced 3.5% through mid February before dropping 6% from its peak. Read More
- February 2007
By now you may have already
read more than a few year-end
reports recapping the returns
realized in the financial
markets last year. The stellar
returns realized in 2006 and
continued momentum so far
this year, while cause for much
rejoicing, also seem to be the
cause of much consternation. Read More
- November 2006
The stock market shook off its fear of a global economic slowdown and bounced back sharply during the third quarter.
Stocks (as measured by the S&P 500) advanced nearly 6% between July and September after giving back its early-year gains during May and June. This momentum has continued
with the S&P 500 now up 12% through November. Small-cap stocks (as measured by the Russell 2000) are up 16% so far this year. Read More
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