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.
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.Read the Full Report
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.Read the Full Report
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.Read the Full Report