Portfolio Compass | January 15, 2019

COMPASS CHANGES Upgraded financials view to neutral/positive from neutral Upgraded industrial metals view to neutral from negative/neutral INVESTMENT TAKEAWAYS Our S&P 500 Index year-end 2020 fair value target range of 3,250–3,300 is based on a price to-earnings...

Market Insight Quarterly | Fourth Quarter 2019

Stocks Rise, Bonds Fall Amid Trade Optimism, Fed Pause Average economic growth, more mixed signals. Third-quarter data showed the U.S. economy grew at an average pace for the economic expansion, with signs of weakening in manufacturing. Gross domestic product (GDP)...

Market Insight Monthly | December 31, 2019

ECONOMY: U.S. ECONOMY’S PROMISING END TO 2019 The U.S. economy wrapped up 2019 with a batch of generally promising data as U.S.-China trade tensions died down. The Conference Board’s Leading Economic Index (LEI) rose 0.1% year over year in November, its slowest pace...

Client Letter | 2020 Gains on 2019 | January 2020

Happy New Year! What a difference a year makes. One year ago the stock market was plunging and came perilously close to ending what has become the longest bull market ever recorded. In December 2018, dropping stocks were suggesting an increased risk that a recession,...