MARKET UPDATES

July 6, 2017

Continuing the climb we analyzed in our last quarterly report, the Dow Jones Industrial average and S&P 500 each rose 3% in a second quarter that was notable mostly for its lack of volatility. There were provocative headlines, to be sure, including the dropping of the “Mother of All Bombs” on ISIS and the allegation by former FBI Director James Comey that he was asked by the President to drop his investigation of Michael Flynn. Just last week, North Korea successfully tested an intercontinental ballistic missile apparently capable of reaching Alaska and Hawaii. Each time, the market wobbled, and then quickly recovered. By historical standards, the wobbles were both small and rare. Last quarter there were only three days (highlighted in chart) in which the Dow traded up or down more than 1%, and two of those were successive days of gains following Emmanuel Macron’s victory in the first...

April 6, 2017

The stock market’s love affair with the Republican agenda endured the rocky start to the Trump presidency, and finished up 5% for the first quarter. The Dow Jones Industrial average breached two milestones – crossing 20,000 for the first time ever on January 25, then topping 21,000 on March 1. In surging to that record close, the market looked past a number of events that most Americans found unsettling – massive protests against the new President, the courts’ rejection of his unpopular travel ban, the resignation of the National Security Adviser under suspicions of colluding with the Russians in the 2016 election, and the recusal of the Attorney General a day later from that investigation. Whew!

A look at the chart for the quarter, however, reveals that stock market momentum stalled in March as questions arose about Republicans’ ability to push through their policy agenda. Doubts...

Please reload

Marble Trail Financial is a joint venture of Addison Advisors LLC dba Marble Trail Advisors, Davis Associates,  and Misasi & Company LLC. Investment advisory services are provided by Marble Trail Advisors, a registered investment adviser, and tax preparation and accounting services are provided by Davis Associates and Misasi & Company LLC.

tel (802) 388-6300 | fax (802) 989-7569 | email  info@marbletrail.com | 5 Court Street, 2nd Floor, Middlebury VT 05753