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Weekly Market Commentary
Keys to Stock Market Gains in 2025 | Weekly Market Commentary | December 30, 2024
As 2024 draws to a close, investors have fully embraced the stock market. The S&P 500 is up more than 25% year to date. The broader Russell 3000 Index is up 24%. The Nasdaq Composite is up over 31%. Even the laggards are up double-digits with 12% and 14% advances for the small cap Russell 2000 and the Dow Jones Industrial Average. Volatility was low, with a maximum peak-to-trough decline for the S&P 500 of 8.5% (the long-term average max drawdown is over 13%). As we turn our attention to 2025, the supports of the past year largely remain in place, but some additional pillars have been added as we discuss below.
The Fed Resets Expectations for Next Year | Weekly Market Commentary | December 23, 2024
The Federal Reserve (Fed) is moving more cautiously in adjusting policy, and markets might have a hard time resetting expectations. Throughout the latest press conference with Fed Chair Jerome Powell, equity markets declined as investors were befuddled with the large upward revision to 2025 inflation forecasts; despite disappointing inflation projections, the “vibecession” is over as businesses and consumers have become more optimistic.
Global Portfolio Strategy
Global Portfolio Strategy | October 5, 2022
The Strategic and Tactical Asset Allocation Committee revised S&P 500 year-end fair value target of 4,000-4,100.
Global Portfolio Strategy | September 7, 2022
The Strategic and Tactical Asset Allocation Committee downgraded its view of emerging market equities from neutral to negative.
Client Letter
Client Letter | Could the Worst be Behind Us? | October 5, 2022
First, we want to acknowledge the tremendous damage and displacement caused by Hurricane Ian.
Client Letter | Better Times Ahead | September 28, 2022
LPL Research discusses elevated uncertainty in financial markets due to high inflation and rising interest rates.
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