MARKET UPDATES

January 10, 2020

Global stock markets rallied in the decade’s final quarter with nearly identical 9% gains in the U.S., Europe and Asia. For the full year, U.S., stocks held a slight edge, with the S&P 500 advancing 31%, while the Dow, mid-cap and small-cap indexes all gained roughly 25%. Despite the year’s huge gains, stocks generally didn’t recover 2018’s losses until the fourth quarter, after the U.S. and China agreed to a “phase one” trade deal, and following Boris Johnson’s resounding electoral victory in the U.K. Stocks were not alone in celebrating 2019. In a sharp reversal from last year, every major asset class produced positive returns, including bonds, gold and real estate.

Given how much of a headwind the uncertainty surrounding trade wars and Brexit had posed for markets, a positive reaction to these developments was to be expected. Whether the magnitude of that reaction is justified depend...

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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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