Investment Review – October 2020

October 14, 2020 Investment Review
Stack of coins

 U.S. stocks lost ground in September. The S&P 500 was down -3.8%, the Nasdaq fell -5.1%, and the Down Jones Industrial average dropped -2.2%. Large cap technology stocks were the hardest hit in the decline, losing -5.4%. Technology stocks have outperformed in 2020, benefiting from business models that have escaped pandemic disruption and record low […]

Read More

Economic Outlook – October 2020

October 14, 2020 Economic Outlook
Positive Economic Trend Graph

   After declining by -5.0% annualized in the first quarter of 2020 and -31.7% annualized in the second quarter, U.S. GDP is poised for a rebound. Economic activity moved back towards normalized levels as states reopened over the summer. We estimate that GDP grew at an annualized rate of between 25-30% in the third […]

Read More

Barron’s Ranks W&F Among The Nation’s Top 100 Registered Investment Advisors

October 8, 2020 Announcements
print press

Welch & Forbes LLC is proud to be recognized as a top 100 Registered Investment Advisor in the United States for Barron’s 2020 rankings. The firm is #46 on the publication’s list of the nation’s top 100 registered investment advisors. If you would like to speak with Welch & Forbes regarding the list, call Ed Sullivan, Vice President, at 617-557-9800, or email him at […]

Read More

Investment Review – September 2020

September 8, 2020 Investment Review
Stack of coins

 The major U.S. stock indices moved higher in August. The Dow Jones Industrial Average increased by 7.57%, the S&P 500 was up 7.01%, and the Nasdaq Composite advanced 9.59%. The S&P 500 surpassed its previous pre-pandemic high of 3386.15 reached in February 19. The index rose to a new record high of 3508.01 on […]

Read More

Economic Outlook – September 2020

September 8, 2020 Economic Outlook
Positive Economic Trend Graph

   Third-quarter U.S. GDP growth rate estimates have trended higher despite weaker consumer spending. Most third-quarter annualized growth estimates range from 25% to 30% reflecting a snap-back from the second-quarter’s steep decline of 33%. A V-shaped economic recovery appears underway consistent with phased reopenings following the exogenous shock of virus-related widespread stay-at-home orders from March […]

Read More

Investment Review – August 2020

August 10, 2020 Investment Review
Stack of coins

 The major U.S. stock indices improved in July. The Dow Jones Industrial Average increased by 2.38%, the S&P 500 was up 5.51%, and the Nasdaq Composite advanced 6.82%. The U.S. Dollar Index declined sharply by 4.15% in July. The Index measures the value of the U.S. dollar versus six major foreign currencies. A weaker […]

Read More

Economic Outlook – August 2020

August 10, 2020 Economic Outlook
Positive Economic Trend Graph

   The Conference Board Leading Economic Index (LEI) for the U.S. increased 2.0% in June to 102.0 (2016=100.0), following a 3.2% increase in May and a 6.3% decrease in April. The June increase in the LEI reflects improvements brought about by the incremental reopening of the economy, with labor market conditions and stock prices […]

Read More

Investment Review – July 2020

July 8, 2020 Investment Review
Stack of coins

 U.S. stocks advanced in June as progress on reopening, payroll gains, and assurances that the Fed would keep rates low for the foreseeable future fueled investor optimism. For the month, the S&P 500 was up 2.0%, the Nasdaq rose 6.1%, and the Dow gained 1.8%. The New York Times dubbed the stock market’s Q2 […]

Read More

Economic Outlook – July 2020

July 8, 2020 Economic Outlook
Positive Economic Trend Graph

   The U.S. economy decreased -5.0% on an annualized basis in the first quarter of 2020, due to lackluster demand and government-mandated shutdowns related to COVID-19. Estimates for second quarter GDP growth, which included four to eight weeks of lockdowns in many states, range from -30% to -40% annualized. We believe Q2 will be […]

Read More

Investment Review – June 2020

June 12, 2020 Investment Review
Stack of coins

 Stocks, measured by the S&P 500, ended the month of May off just 5.8% for the year after rallying 36% from the late March low. In May the Dow Jones Industrial Average gained 6.2%, the S&P 500 was up 6.5%, and the Nasdaq Composite gained 9.1%. International equity markets were also higher. The MSCI […]

Read More