July 5, 2019

It was anything but smooth sailing, but stock markets ended the second quarter in positive territory and posted their best first half since the dot-com era of the 1990’s. The S&P 500 logged gains of 4% for Q2 and 18% for the first half, and most major indexes broke records set last October. The bull market that began in March of 2009 is now on the cusp of becoming the longest in recorded history.​​

The outlook was darker in the middle of the quarter as trade tensions simmered between the U.S. and virtually all of its major trading partners. A short list of Trump’s activities in the month of May includes raising tariffs on $200B of Chinese imports from 10% to 25%; threatening 25% tariffs on $325B of additional imports; declaring imported cars from Europe and Japan a threat to national security; and threatening 5% tariffs on all Mexican imports. During this period US stocks lost 7%. Anxie...

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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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