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 […]

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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 […]

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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 […]

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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 […]

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Investment Review – July 2020

July 8, 2020 Investment Review
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 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 […]

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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 […]

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Investment Review – June 2020

June 12, 2020 Investment Review
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 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 […]

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Economic Outlook – June 2020

June 12, 2020 Economic Outlook
Positive Economic Trend Graph

 The U.S. stock market continued its rally in May despite dismal economic data. One reason for the rally’s continuation is the Federal Reserve, which had previously reduced its target interest rate to zero and reintroduced its Quantitative Easing bond buying program, indicating it would do whatever it takes for as long as it takes. […]

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Welch Family Armorial Graces Cover of American Ancestors Spring 2020 Magazine

June 5, 2020 Announcements

The New England Historic Genealogical Society’s (NEHGS) American Ancestors magazine features the Welch Armorial (coat of arms) on the cover of its Spring 2020 issue. The Armorial description states that it honors John Welch (1711-1789), “perhaps Boston’s most accomplished woodcarver.” Welch “carved in the rococo style, embellishing ships, buildings, furniture, needlework, coats of arms, and […]

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Investment Review – May 2020

May 19, 2020 Investment Review
Stack of coins

 The major U.S. equity indices finished April with one of their best months in history, with the S&P 500 rallying 12.7%. The market appears to be pricing in a quick recovery from the coronavirus and its related disruption of business. Year-end 2020 and 2021 consensus earnings estimates for the S&P 500 have been coming […]

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