Last week . . .
the markets added another layer to the media-missed upward trend for equities making this the fourth of five weeks of gains. Not to miss an opportunity to continue fear mongering, financial talking heads continue to focus on ‘volatility’ completely ignoring the positive pattern and pointing only to the downside part of a two-part dynamic that is the definition of volatility. We’ll take the positive view that seems inescapable to us even if it turns out to be fleeting in the review mirror.
Trading places with the only negative benchmark last – Commodities, Emerging Markets was the only index to lose ground out of the 24 we track weekly.
Interestingly, foreign stocks generally outperformed US equities with both areas posting solid increases. US Stocks were up from .50% to 2.1% the latter posted by Mid-Cap Value with the former belonging to US Tech Stocks.
Foreign equities that gained were up from 1.5% to 2.1%, the latter going to Foreign Value stocks while Emerging Markets slipped less than 0.1%. It’s also worth noting that Foreign Value sits right in between US Large and Mid-Cap Value YTD at -6.0%. (We don’t have a Mid-Cap Index for Foreign Stocks).
All bond indexes were up with Treasury TIPS advancing 1.2% through the week.
With the Fed Chairman offering hope as we write that rate increases might begin to taper in December from the aggressive hikes throughout 2022, the markets may have an opportunity to build on the recent incremental ground gained over the past few weeks. Let’s hope so!
Have a great weekend!
All performance reported in the graph and performance references are from the following index list: DJ Industrial Average TR USD, S&P 500 TR, DJ US TSM Large Cap Growth TR USD, NASDAQ 100, Technology NTTR TR USD, DJ US Health Care TR USD, DJ US TSM Large Cap Value TR USD, DJ US TSM Mid Cap Growth TR USD, DJ US TSM Mid Cap Value TR USD, DJ US TSM Small Cap Growth TR USD, DJ US TSM Small Cap Value TR USD, FTSE NAREIT All Equity REITs TR, DJ Gbl Ex US Select REIT TR USD, Bloomberg Commodity TR USD, MSCI EAFE NR USD, MSCI EAFE Growth NR USD, MSCI EAFE Value NR USD, MSCI EAFE Small Cap NR USD, MSCI EM NR USD, BBgBarc US Corporate High Yield TR USD, FTSE WGBI NonUSD USD, JPM EMBI Plus TR USD, BBgBarc US Govt 1-3 Yr TR USD, ICE BoafAML 1-3Y US Corp TR USD, BBgBarc Intermediate Treasury TR USD, BBgBarc Interm Corp TR, BBgBarc US Treasury US TIPS TR USD. This material has been prepared solely for informational purposes based upon data generally available to the public from sources believed to be reliable. All performance reporting is for indexes, not specific securities. Performance of specific securities will vary from indexes. Past performance is not an assurance of future results. Indexes cited are provided to illustrate market trends for certain asset classes. It is not possible to invest directly in an index. Indexes do not reflect individual investor costs of trading, expense ratios & advisory or other fees