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: August 2019
It was a tough month for stocks as escalating trade tensions between the U.S. and China led to further tariff increases from both sides. The S&P 500 was off 1.58% for the month, and the MSCI EAFE Index of international stocks fell 2.59% over that same time period. Also, the 2-year U.S. Treasury yield briefly rose above the similar 10-year security’s yield. This “inversion” as it is commonly referred to, is often a harbinger of economic weakness, but generally needs to persist for a number of months, rather than just a few days.
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Market Comments:

Economy: July 2019
U.S. GDP growth slowed to a 2.1% rate in the 2nd quarter but came in better than expectations thanks to strong consumer spending. Domestic stock markets continued to trend higher in anticipation of the interest rate cut delivered by the Federal Reserve late in July. The year-to-date gain on the S&P 500 is now 20.24%. Global manufacturing surveys do point to somewhat weaker growth internationally, and both the MSCI EAFE and MSCIE Emerging Markets indices were down just over 1% last month.
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Market Comments:

Economy: June 2019
A temporary truce with China and the Federal Reserve signaling a potential cut in interest rates at its July meeting helped global stock markets rebound from their May swoon. The S&P 500 gained 7.05% bringing its year-to-date return to 18.54%.  Not too shabby for six months of work. Long-term bond yields continued their decline, with the 10-year U.S. Treasury yield ending the month at just 2%.
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