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Our Commentary

August 2018 Commentary

The US stock markets rose during the month of July as strong corporate earnings trumped weakness in Technology shares. Additionally, fears of a prolonged trade war with China eased a bit as news reported that Treasury Secretary Steve Mnuchin and Chinese Vice Premier Liu He may restart trade discussions. All the major US stock indices finished higher for the month of July. The Dow Jones Industrial Average posted a 5% gain, the S&P 500 added 3.8%, the NASDAQ rose 2.4%
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July 2018 Commentary

The US stock markets gyrated between gains and losses during the month of June, as investors assessed the impact of proposed trade tariffs, political turmoil in the Eurozone, and signals of a slowing global economy. Most of the major US stock indices had positive returns for the month of June. The S&P 500 rose 2.9%, the Dow Jones Industrial average gained about .7%, and the tech-heavy NASDAQ posted a 6.3% gain. The Russell 2000 small cap index fell .3%. The NASDAQ’s gain was particularly note
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June 2018 Commentary

The US stock markets had a roller-coaster ride during the month of May. The month began with a rally after strong first quarter earnings were reported, trade war concerns subsided, emerging markets calmed, and political instability in Europe was shrugged off. Trade war concerns re-emerged late in the month curtailing gains. Washington is trying to gain concessions to reduce the trade deficit. The possibility of political turmoil in Italy also negatively
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May 2018 Commentary

April 2018 Market Review and OutlookAll of the major US stock indices had positive returns for the month of April, as strong earnings reports allowed the markets to regain some of the earlier losses due to proposed tariffs and interest rate increase concerns. During the month, concerns about a hawkish Fed and higher inflation expectations pushed the yield on the 10-year government bond above 3% for the first time in more than 4 years. The month ended with the yield on the 10-year bond at 2.96%.D
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April 2018 Commentary

During the first quarter, investors wavered from euphoria to despair, as record market gains in January were followed by the first “corrections” (drops of 10% from record highs) in February in more than 2 years. The Dow and S&P 500 closed out the month of March and first quarter with declines, breaking a streak of nine consecutive winning quarters. Volatility, which had long been dormant, roared back to life during the quarter, as the VIX
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March 2018 Commentary

What a difference a month makes! 2018 began with strong gains, only to see much of those gains evaporate as volatility returned to the markets amid concerns of continued interest rate hikes by the Fed. The conundrum is that interest rates are rising because of positive economic data: GDP grew 2.5% in the last quarter; unemployment is at a 17-year low; consumer confidence is high; and corporate earnings are up over 15% this quarter. Apparently interest rate
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February 2018 Commentary

 2018 is off to a good start. During the month of January the major indices were setting records on a daily basis. Worldwide markets are off to their best start in over 30 years. A well-known market adage says that so goes January, so goes the year. And historical information going back to 1950 shows that this barometer has been wrong only nine times in those 68 years, for an 87% accuracy ratio. The catalysts for the rise have been positive corporate earnings, strong global economic growth, and
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January 2018 Commentary

The big drops in stocks around the world seem scary, but in reality, are a healthy part of the market's process of buying and selling asset classes. It is important to remember that at its most basic level, money around the world is sloshing around from bucket to bucket trying to find the bucket (asset class) with the best opportunity for gain. At all times some buckets are more full than others. All money must go somewhere. Even if it stays in cash, that cash itself is a bucket and represen
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August 2018 Commentary

The US stock markets rose during the month of July as strong corporate earnings trumped weakness in Technology shares. Additionally, fears of a prolonged trade war with China eased a bit as news reported that Treasury Secretary Steve Mnuchin and Chinese Vice Premier Liu He may restart trade discussions. All the major US stock indices finished higher for the month of July. The Dow Jones Industrial Average posted a 5% gain, the S&P 500 added 3.8%, the NASDAQ rose 2.4%, and the Russell 2000 sma
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