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.

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MARKET UPDATES

January 11, 2019

Stock markets sank in the last quarter of 2018 with the S&P 500 and NASDAQ indexes entering “bear market” territory, defined as a decline of at least 20% from the most recent peak. While the Dow narrowly avoided the bear, most foreign markets fell even further, making this all but the official end of the nearly 10-year-old bull market. The 4th quarter declines dragged all U.S. indexes into the red for the worst annual losses since 2008. All in all, 2018 could hardly have been more different than 2017, a year that saw stocks rise relentlessly to new records.

With GDP growth near the fastest of this expansion, the reversal in markets stands in stark contrast to the performance of the U.S. economy. Unemployment is at records lows, job creation remains strong and consumer confidence, though dinged by the recent market plunge, remains high. Despite all of this, sentiment in the investment an...

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