Investment Review – July 2019

July 11, 2019 Investment Review

  1. U.S. stocks rallied in June as bulls adopted the view that the Fed was moving towards a more accommodative stance on interest rate policy. Investors also found bargains in individual stocks created by May’s trade war-related sell-off. For the month, the S&P 500 gained 6.9%, the Nasdaq rose 7.4%, and the Dow picked up 7.2%.

  2. Analysts expect S&P earnings growth to continue, calling for 3.6% growth in 2019 and 11.0% in 2020. However, some economists believe that these estimates do not reflect the impact of a trade war. There would likely be downside to these estimates if trade negotiations between the U.S. and China break down.

  3. International stocks also turned in a strong showing in June, although they did not keep pace with their U.S. counterparts. The MSCI EAFE Index rose 4.1% and the MSCI Emerging Markets Index was up 4.1%. Among the major EAFE markets, the laggard was Japan, which gained only 2.8%.

key investment statistics july 2019

Sources: Bloomberg LLC,  FACTSET, U.S. Commerce Department, Bloomberg Businessweek, IHS

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