Market Commentary

By Keith Gangl, CFA® Stocks and bonds traded places in August, each reversing its July script. The S&P 500 had a ho-hum July but reaccelerated in August, while Treasury yields did…

By Keith Gangl, CFA® The S&P 500 was essentially flat in July, slipping just 0.07%, despite a month full of potential headline risk. Oil prices swung sharply on turmoil in the…

By Keith Gangl, CFA® The first half of 2026 ended on a high note, with the second quarter delivering one of the strongest performances in years. The S&P 500 and…

By Keith Gangl Wall Street has long followed the adage “Sell in May and go away,” but investors who heeded that advice this year would have missed a powerful rally. The…

By Keith Gangl The stock market, represented by the S&P 500, entered March in positive territory, but that changed quickly. Investors experienced a sharp pullback, what might aptly be called the…

By Keith Gangl The long-anticipated broadening of the equity market was on full display in February. January had already offered early signals of this shift, with international and small-cap stocks…

By Keith Gangl The start of a new year signifies a fresh beginning, a new chapter, and renewed optimism. The stock market, measured by the S&P 500, continued its upward trajectory…

By Keith Gangl, CFA® The stock market, measured by the S&P 500, finished near record highs, closing the year up 17.75%. The year 2025 marked the third consecutive year of double-digit…

By Keith Gangl October is known for volatility, but this year that wasn’t the case, as turbulence seems to have shifted into November. The stock market managed to sidestep the historically…

By Keith Gangl Halloween and October are synonymous with spooky customs and trick-or-treating, just as financial markets are historically known for October volatility. However, this October defied its frightening reputation, delivering…