--- title: The Independent Market Observer | Outlook. Opinion. Insight. | Market Thoughts Videos description: Market Thoughts Videos | Commonwealth’s chief investment officer, Brad McMillan, provides insight on the economic, market, and political events of the day—both domestically and on a global scale. --- [![The Independent Market Observer](https://blog.commonwealth.com/hubfs/IMO-Title-1.png "The Independent Market Observer")](https://blog.commonwealth.com/independent-market-observer) [![Commonwealth Financial Network](https://blog.commonwealth.com/hubfs/lockup_citron-1.png "Commonwealth Financial Network")](https://www.commonwealth.com/) - [Home](https://blog.commonwealth.com/independent-market-observer) - [About](https://learn.commonwealth.com/about/) [![](https://blog.commonwealth.com/hubfs/Market-Thoughts-September-2026_V01_20260901_UpdatedLayout.00_00_04_07.Still044.png)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-september-2026-video) ## [Market Thoughts for September 2026 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-september-2026-video) September 2, 2026 Despite ongoing concerns about Middle East tensions and U.S. government debt levels, stocks rallied across the board in August. The Nasdaq was the best-performing U.S. index, followed closely by the S&P 500. Second-quarter corporate earnings significantly outperformed expectations, reflecting widespread economic strength. Although the July employment data was disappointing, inflation showed signs of easing, providing some reassurance to markets. Looking ahead, investors face risks from higher energy costs, rising long-term interest rates, and election-related uncertainty. [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-september-2026-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-september-2026-video#comments-listing) [![](https://blog.commonwealth.com/hubfs/20260803_Market_Thoughts_August_v1.00_00_04_06.Still001.jpg)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-august-2026-video) ## [Market Thoughts for August 2026 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-august-2026-video) August 4, 2026 Although underlying trends remained positive, higher oil prices continued to weigh on markets in July. The Nasdaq was the worst-performing U.S. index, while the S&P 500 and Dow Jones Industrial Average were flat for the month. Turning to the economy, the data was mixed, but strength in consumer spending and non-residential fixed investment is an encouraging sign that the economy is poised to continue growing in the second half of the year. [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-august-2026-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-august-2026-video#comments-listing) [![](https://blog.commonwealth.com/hubfs/Market-Thoughts-July-2026.png)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-july-2026-video) ## [Market Thoughts for July 2026 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-july-2026-video) July 7, 2026 June was a mixed month for markets, as equities were dragged down by the Magnificent Seven stocks, which all closed lower on the month. Still, the Dow Jones Industrial Average and the small-cap Russell 2000 both rallied, and the market benefited from the increasing earnings expectations for corporate America. Further, the May jobs data came in well above economist expectations, and retail sales continue to show consumers are willing to spend. But will inflation remain a fly in the ointment? [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-july-2026-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-july-2026-video#comments-listing) [![](https://blog.commonwealth.com/hubfs/2026_June_MarketThoughts_Thumbnail.jpg)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-june-2026-video) ## [Market Thoughts for June 2026 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-june-2026-video) June 2, 2026 May was a strong month for equities, despite geopolitical tensions and inflation concerns. Major indices reached record highs, supported by robust corporate earnings that were significantly beyond expectations. Gains broadened beyond large tech firms, signaling healthier market participation. While bonds experienced mid-month volatility due to inflation fears, they recovered as geopolitical tensions eased. Economic data showed mixed but generally positive trends, including steady job growth and resilient consumer spending. [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-june-2026-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-june-2026-video#comments-listing) [![](https://blog.commonwealth.com/hubfs/May-2026-MMT_Thumbnail.png)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-may-2026-video) ## [Market Thoughts for May 2026 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-may-2026-video) May 4, 2026 In April, the S&P 500, Dow, and Nasdaq all surged, driven by earnings growth and a risk-on sentiment for investors. Further, the economic updates released during the month were largely positive. The initial estimate of Q1 GDP growth came in at 2 percent annualized, up from 0.5 percent at the end of last year. The economy also added a solid 178,000 jobs in March, the strongest month of hiring in over a year. On the consumer front, we saw signs of stabilizing sentiment and solid spending growth. [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-may-2026-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-may-2026-video#comments-listing) [![](https://blog.commonwealth.com/hubfs/Market-Thoughts-April-2026_Thumbnail.png)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-april-2026-video) ## [Market Thoughts for April 2026 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-april-2026-video) April 2, 2026 March was a challenging month for stocks, as markets pulled back due to rising geopolitical risk in the Middle East. The S&P 500, Dow Jones, and Nasdaq all fell by around 5 percent. International markets fared worse, closing down over 10 percent in March. Bonds were also down, due to rising interest rates. [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-april-2026-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-april-2026-video#comments-listing) [![](https://blog.commonwealth.com/hubfs/Market-Thoughts-March-2026_Thumbnail.png)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-march-2026-video) ## [Market Thoughts for March 2026 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-march-2026-video) March 2, 2026 February was a volatile month for stocks, with investor concerns around AI, tariffs, and trade policy. The Dow Jones was the best-performing of the large-cap U.S. markets, while international stocks were the best-performing part of the global market. On the economic side, the picture was mixed. Corporate fundamentals remain solid, but fourth-quarter real GDP slowed from the strong second- and third-quarter reports. Consumer confidence showed a slight improvement in February, while the January employment report was better than expected. [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-march-2026-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-march-2026-video#comments-listing) [![](https://blog.commonwealth.com/hubfs/Market-Thoughts-February-2026_Thumbnail.png)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-february-2026-video) ## [Market Thoughts for February 2026 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-february-2026-video) February 3, 2026 All three major U.S. indices ended January in positive territory, despite volatility driven by geopolitical tensions and uncertainty around the Fed. International stocks outperformed, with developed and emerging markets rising amid concerns about U.S. trade and foreign policy. [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-february-2026-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-february-2026-video#comments-listing) [![](https://blog.commonwealth.com/hubfs/Market-Thoughts-January-2026_V01_20260102.00_00_06_19.Still041.png)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-january-2026-video) ## [Market Thoughts for January 2026 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-january-2026-video) January 5, 2026 December was a mixed month for markets. The Nasdaq ended the month down slightly, while the S&P 500 and Dow Jones saw modest gains. Overall, markets had a strong 2025, with all three major U.S. indices up between 15 and 21 percent for the year. The economy also continued to expand throughout 2025, as shown by the 4.3 percent annualized GDP growth rate in Q3. Consumer spending has remained resilient and helped power the economy throughout the year. [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-january-2026-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-january-2026-video#comments-listing) [![](https://blog.commonwealth.com/hubfs/Market-Thoughts-December-2025_V01_20251201.00_00_05_05.Still039.jpg)](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-december-2025-video) ## [Market Thoughts for December 2025 \[Video\]](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-december-2025-video) December 2, 2025 After declines in early November, a late-month rebound brought the S&P 500 and Dow Jones to positive territory, although the technology-heavy Nasdaq ended the month down 1.45 percent. Turning to the economy, a delayed employment report showed a rebound in hiring in September, following modest job losses in August. But the unemployment rate rose to 4.4 percent, marking the highest level since late 2021. [Continue reading →](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-december-2025-video) [Leave a comment](https://blog.commonwealth.com/independent-market-observer/market-thoughts-for-december-2025-video#comments-listing) [Next](https://blog.commonwealth.com/independent-market-observer/topic/market-thoughts-videos/page/2) ### Subscribe via Email ![TMO\_IMO\_615x408\_sidebar](https://blog.commonwealth.com/hs-fs/hubfs/TMO_IMO_615x408_sidebar.png?width=1033&height=686&name=TMO_IMO_615x408_sidebar.png "TMO_IMO_615x408_sidebar") [Episode 20](https://vimeo.com/1201911815/0f4f028be9?share=copy&fl=sv&fe=ci) June 17, 2026 [Episode 19](https://vimeo.com/1191658257/1b43ce84dd?share=copy&fl=sv&fe=ci) May 13, 2026 [Episode 18](https://vimeo.com/1183174918/e227cf7d80?share=copy&fl=sv&fe=ci) April 15, 2026 [Episode 17](https://vimeo.com/1174554734/636f0f7aba?share=copy&fl=sv&fe=ci) March 18, 2026 [Episode 16](https://vimeo.com/1163757312/bc2f802d74?share=copy&fl=sv&fe=ci) February 11, 2026 [More](https://learn.commonwealth.com/monthly-media-placements) [![Insights\_CTA\_IMO\_233x400-1](https://no-cache.hubspot.com/cta/default/295024/interactive-187935228457.png)](https://blog.commonwealth.com/hs/cta/wi/redirect?encryptedPayload=AVxigLIp2zJtvR8SMPkAZ8fi1Uq1HIoG2hzUT%2FkChPiiWTuGxPo0BZEnAYEcXpjifYIiv9ut5a5TzYrTnu5hvC6RmZ16SIgEFo1W%2BMasjhLLBW%2BwdORASQkCL9F%2FMvLl%2FfG%2B4GjRD369jjxYmLAvCBFHEYN58eJcqgi52e0l7EYFz8W0mhR6uqlYBuyseQJpOIu5%2BzKA6DMM4rNgSp8%3D&webInteractiveContentId=187935228457&portalId=295024) ### Hot Topics Select Category Ask Brad Commentary Economic Risk Factor Updates Economics Lessons Market Thoughts Videos In the News Investing Market Updates On My Bookshelf Politics and the Economy [![New Call-to-action](https://no-cache.hubspot.com/cta/default/295024/5f46d9ce-4d40-495c-a126-d4502b647bbf.png)](https://cta-redirect.hubspot.com/cta/redirect/295024/5f46d9ce-4d40-495c-a126-d4502b647bbf) ### Archives - 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