Wealth Management Since 1971

Markets & Economy

monthly and quarterly summaries

The Linscomb & Williams Investment team generates both monthly and quarterly summaries that provide an overview of the market’s performance. Click the links below to read a more detailed report.

Monthly Reports

Market Comments:

Economy November 2019
Stocks march higher in November, as better-than-expected earnings and thawing trade tensions put investors in a better mood. The S&P 500 hit a new all-time high late in the month, and is up 27.63% for the year. Interest rates generally rose and yield curves steepened, with the Federal Reserve signaling that it is unlikely to cut interest rates further in the near future.
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Market Comments:

Economy October 2019
Stock markets continued to move higher in October, with the S&P 500 hitting a new all-time high near month’s end. While it may be a natural instinct to want to “sell high” when stocks hit new highs, this is usually a poor strategy, as recent strength historically begets further strength going forward. In fact, in the post-WWII era, stock returns are positive six months after an all-time high nearly 75% of the time, and in a correction (down more than 10%) only 5% of the time. International and emerging markets rallied in October as well, up 3.59% and 4.22%, respectively.
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Market Comments:

Economy September 2019
Stock markets ended September with positive returns, but there was a lot of movement underneath the surface. Investors rotated out of recent winners, mainly U.S. large cap growth stocks, and into asset classes like small cap, international, and value stocks. The Federal Reserve cut the federal funds rate 0.25% as expected, but longer-term interest rates rose slightly thanks to continued strong consumer spending and hopes of new monetary and fiscal stimulus measures in Europe and China.
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