Author: David Martin

First Quarter 2022 Review and Outlook

David Martin

U.S. equities closed out their first quarterly loss in two years with the S&P 500 Index falling 4.9% in Q1, the first quarterly decline since the 20% plunge in Q1 2020 at the start of the pandemic. The first Fed rate hike since 2018, the highest inflation in 40 years,…

Categories: The Market

Year End Recap and 2022 Outlook

David Martin

The S&P 500 rallied 26.9% in 2021, thanks in large part to record earnings revisions, the strongest economic growth in decades, and unprecedented stimulus from the Federal Reserve. Those conditions will almost assuredly not be as market friendly in 2022. Earnings growth should slow to single digits, real GDP could…

Categories: News, The Market

Third Quarter 2021 Market Review and Outlook

David Martin

All good things must come to an end. The cascading of bad news at the end of September was finally too much for what had been a historically resilient stock market. Global supply chain disruptions, soaring energy prices, COVID-19, stalled infrastructure bills, inflation worries, Chinese contagion fears, and a looming…

Categories: Industry Ideas, The Market

Second Quarter Market Review and Outlook

David Martin

For the first six months of the year, the Dow Jones Industrial Average was up 12.7% while the S&P 500 Index rallied 14.4%, and the NASDAQ Composite rose 12.5%. Historically, strong stock market first halves bode well for the remainder of the year; Whenever there has been a double-digit gain…

Categories: The Market

First Quarter Market Commentary

David Martin

The U.S. equity market hit all-time highs during the first quarter and several non-U.S. markets joined the march upwards, including the Canadian and European equity markets. Additionally, the S&P 500 gained 5.8% in Q1 and its trailing 12-month gain was 53.7%, the strongest gain in the post-war period. Alternatively, bonds…

Categories: News, The Market

2020 Year-End Review and Outlook

David Martin

During the year 2020 we saw the global economy fall into its deepest recession in the postwar era due to COVID-19, with the S&P 500 falling by as much as 34% from its late February highs into late March. But as early as the second quarter (Q2), the economy began…

Categories: Industry Ideas, The Market

3Q Review and Outlook

David Martin

After the strongest August in 34 years, momentum reversed in September. The S&P 500 Index finished the month down 3.9%, but still left the index up 5.5% on the year. The decline in September was led by the mega-cap growth stocks that had helped drive the market to new highs…

Categories: Industry Ideas, The Market

Q4 2019 Market Review

David Martin

Read on for a look into what 2019 brought to the equity market and where the market is headed as we go further into 2020. Also, where are we in the current economic cycle and what does that means for investment risk?

Categories: Industry Ideas, News, The Market