Posts by jmgfinancial

INVESTMENT COMMITTEE COMMENTARY June 2024 The S&P 500 had another strong month in June, led again by the artificial intelligence-linked (AI) stocks, while the broader equity and bond markets experienced mixed results. The strong AI earnings came from Oracle and Broadcom along with news Apple was integrating AI technology into future iPhones. Tech stocks pushed…

INVESTMENT COMMITTEE COMMENTARY April 2024 Stocks ended April lower as benchmark indices endured their first downturn in several months. Throughout April, investors had to factor in the Federal Reserve’s (Fed) apparent intent to hold interest rates at a two-decade high, the track of inflation, and geopolitical risks from the escalating wars in the Middle East…

INVESTMENT COMMITTEE COMMENTARY March 2024 In March, the equity rally continued, aided by familiar factors such as solid economic growth, generally as-expected inflation data, AI enthusiasm and bullish Federal Reserve (Fed) guidance. Broadly speaking, economic and inflation data, while slowing, met investor expectations of stable growth and easing inflation. In mid-March, updated Fed interest rate…

INVESTMENT COMMITTEE COMMENTARY February 2024 Stocks ended February on a high note with the S&P 500 and Nasdaq 100 notching all-time highs. Technology companies, particularly those linked to artificial intelligence (AI), helped drive stocks. Inflation data released at the end of the month was in line with expectations, which also supported stocks. February’s gains marked…

INVESTMENT COMMITTEE COMMENTARY January 2024 Stocks had mixed performance in January. Repeating a theme from 2023, U.S. large cap growth and technology sector stocks had positive performance while the broader U.S. stock market had modest or negative total returns. Entering 2024, stock valuations were elevated due to strong sentiment and high investor expectations. With that…

INVESTMENT COMMITTEE COMMENTARY November 2023 Stocks had strong gains in November and reversed a seasonal trend of weaker performance. Recent inflation data showed that inflation is continuing to recede. Investors turned optimistic as the Federal Reserve (Fed) held interest rates level in November, leading to a greater expectation that the Fed is done raising interest rates…

INVESTMENT COMMITTEE COMMENTARY October 2023 Stocks declined for the third straight month in October. Investor sentiment has declined in the last three months as recent inflation data demonstrated the challenges the Federal Reserve (Fed) faces in trying to bring down rising prices. The Consumer Price Index (CPI) and the Personal Consumption Expenditures (PCE) index remain well…

INVESTMENT COMMITTEE COMMENTARY September 2023 Market volatility continued in September as rising bond yields pressured stock valuations, while some inflation indicators pointed to a bounce back in inflation and the Federal Reserve (Fed) reiterated a “higher for longer” interest rate outlook. All asset classes declined for the month. Solid economic data and a pause in…