Investment Review - November 2019
- Equities enjoyed positive returns in October. The Dow Jones Industrial Average rose 0.5%, the S&P 500 climbed 2.9% and the Nasdaq increased 3.7% for the month. Positive trends in employment and consumer spending have stabilized economic growth in the U.S., alleviating fears of a recession and driving the gains.
- Having increased by $1 trillion over the last three years, assets in money market funds now total $3.4 trillion, the highest level in nearly ten years according to Thomson Reuters Lipper. While there are many reasons to raise and hold cash, these levels are an indication that investor sentiment remains cautious.
- The U.S. presidential election is a year away, but the first caucuses in Iowa are slated for three months from now on February 3, 2020. The field of Democratic contenders is large, but three are ahead of the pack and a recent poll showed no clear leader among Elizabeth Warren, Joe Biden and Bernie Sanders.
Disclosure: This commentary reflects the opinions of Welch & Forbes based on information that we believe to be reliable. It is intended for informational purposes only, and not to suggest any specific performance or results, nor should it be considered investment, financial, tax or other professional advice. It is not an offer or solicitation.
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