All three major U.S. stock indices continued their upward trend in February. The S&P 500 gained 2.9%, the Dow Jones Industrials gained 3.4%, and the Nasdaq Composite gained 3.7%. Non-U.S. stocks also rose. The MSCI EAFE Index rose 3% and the MSCI Emerging Markets index rose 1%. Treasury note yields rose slightly and across maturities in February maintaining […]
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The Bureau of Labor Statistics (BLS) reported a much lower than expected non-farm payroll employment gain of 20,000 in February, the fewest monthly additions since September 2017. The low monthly gain was below the consensus estimate of a gain of 180,000 and well below January’s gain of 304,000. The unemployment rate dropped to 3.8%. Monthly […]
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Welch & Forbes was honored to have supported as an Ally Sponsor the International Institute of New England’s 2019 International Women’s Day Luncheon on Friday, March 12. The event honored three women leaders: Pardis Sabeti – Professor and founder of Sabeti Lab at Harvard University, Monica Grewal – Partner at WilmerHale, and Christina Qi – Co-founder and partner at […]
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The S&P 500 surged 8% in January, ending 14.0% higher than the low reached on December 24. The dovish guidance from Fed Chairman Jerome Powell was a primary factor underpinning the market’s advance. The strong U.S. dollar remains a headwind for corporate revenues. On a trade-weighted basis, the greenback surged just shy of 8% in 2018. MPs in […]
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Federal Reserve Chairman Jay Powell indicated in early January that the central bank would consider altering its balance sheet policy based on economic conditions, a reversal of the position he had espoused in December. Speaking at the annual meeting of the American Economic Association, he confirmed that the Fed would be willing to adjust the […]
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Welch & Forbes is proud to have supported as a benefactor the New England Historic Genealogical Society’s Winter Dinner, celebrating 30 years of the Great Migration Study Project, held on January 24, 2019. The Winter Dinner featured Robert Charles Anderson, FASG in conversation with William M. Fowler, Jr at the Chilton Club. Anderson has been in the role […]
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The month of December saw declines across U.S. stocks with the S&P 500 -9.0%, -8.5% for the Dow Jones Industrial Average, and -9.4% on the Nasdaq. Equities saw the largest annual decline during the bull market of the past decade, posting a -4.4% total return on the S&P 500 in 2018, while closing the year […]
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Third quarter Gross Domestic Product (GDP) came in at 3.4%, above the economy’s growth potential of 2.0%. This expansion was driven by a strong consumer, which accounts for two thirds of U.S. GDP. December saw a 0.1% downward revision from the original October estimate of 3.5%. Federal Reserve officials’ GDP estimates for the coming year are […]
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The stock market treated us to another volatile month in November. Indices squeaked to a positive close thanks to a rally in the last week. In November, the Dow Jones Industrial Average rose 1.7%, the S&P 500 gained 1.8% and the Nasdaq Composite rose .3%. Stocks are up this year through November month-end, although indices remain well off […]
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The U.S. economy has maintained steady growth and the outlook suggests continued growth. Third quarter 2018 gross domestic product (GDP) grew at an annualized rate of 3.5%, its fastest pace in more than two years, and the first time since 2014 that the economy experienced growth of 3% or more for two consecutive quarters. The U.S. […]
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