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Monthly Market Risk Update: September 2023 [SlideShare]

Posted by Brad McMillan, CFA®, CFP®

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This entry was posted on Sep 13, 2023 7:37:32 AM

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Monthly Market Risk Update My colleague Sam Millette, director, fixed income on Commonwealth’s Investment Management and Research team, helped me put together this month’s Market Risk Update. Thanks for the assist, Sam! Let’s take a closer look.

Equity markets fell in August as investors pulled back from riskier investments due to concerns about slowing economic growth. The S&P 500 lost 1.59 percent, the Dow Jones Industrial Average lost 2.01 percent, and the Nasdaq Composite dropped 2.05 percent. Despite the drop in August, all three major indices remained in positive territory.

Given the concerns about slowing growth and inflation, we have kept the overall market risk level at yellow for now.

View a breakdown of the risks we’re watching in this SlideShare.

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The information on this website is intended for informational/educational purposes only and should not be construed as investment advice, a solicitation, or a recommendation to buy or sell any security or investment product. Please contact your financial professional for more information specific to your situation.

Certain sections of this commentary contain forward-looking statements that are based on our reasonable expectations, estimates, projections, and assumptions. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Past performance is not indicative of future results. Diversification does not assure a profit or protect against loss in declining markets.

The S&P 500 Index is a broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks. All indices are unmanaged and investors cannot invest directly in an index.

The MSCI EAFE (Europe, Australia, Far East) Index is a free float‐adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada. The MSCI EAFE Index consists of 21 developed market country indices.

One basis point (bp) is equal to 1/100th of 1 percent, or 0.01 percent.

The VIX (CBOE Volatility Index) measures the market’s expectation of 30-day volatility across a wide range of S&P 500 options.

The forward price-to-earnings (P/E) ratio divides the current share price of the index by its estimated future earnings.

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