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Resources from Old Point
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May 2025 Market Commentary
Positive trade policy discussions lifted U.S. equity markets in the closing weeks of April but did little to improve investor sentiment. Professional investors turn the most bearish in 30 years, while Wall Street strategists reined in optimistic corporate profit and economic outlooks. From Wall Street to Main Street, everyone is intently focused on trade deals. First quarter corporate profits were strong, but investors wonder if they can continue.
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April 2025 Market Commentary
U.S. Equity markets suffered steep declines in March as tariff concerns reignited inflation and recession fears. Trade policy clarity emerged, but announced tariffs were higher than expected. The stock market and the economy are not in sync, but that may change. The Fed stays on the sidelines for now. Investment discipline is most important during times of heightened uncertainty.
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March 2025 Market Commentary
The Magnificent Seven stocks fell out of favor, weighing heavily on the U.S. major market indices last month. The new White House administration’s tariff policies were released at a rapid and aggressive pace, marked by swift and significant changes that disrupted established trade norms.
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February 2025 Market Commentary
Market breadth improved in January following a tough two-year trend of a limited number of stocks outperforming benchmarks. The AI paradigm was tested by the arrival of a low-cost solution from China, momentarily upsetting the upward path of the technology titans’ stock prices.
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January 2025 Market Commentary
Despite a soft December, U.S. equity markets posted exceptional results for the second consecutive year. Once again, stock market returns exceeded consensus expectations. Results for 2024 were similar to 2023 with the Magnificent Seven stocks driving most of the S&P 500 Index’s results. The Fed started an interest rate easing cycle, but inflation concerns pushed yields higher. 2025 looks like a banner year for earnings growth but risks should not be ignored.