The Independent Market Observer

Monthly Market Risk Update: February 2024 [SlideShare]

February 14, 2024

Equity markets continued to rally in January, as all three major U.S. indices were up for the month. The S&P 500 gained 1.68 percent to start the year, and the Dow Jones Industrial Average was up 1.31 percent. The Nasdaq Composite lagged its peers, as the technology-heavy index gained 1.04 percent in January. While these were smaller gains than those at the end of 2023, this still marked three consecutive months of positive returns for all three indices.

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Monthly Market Risk Update: January 2024 [SlideShare]

January 17, 2024

Equity markets continued to rally in December, with all three major U.S. indices up for the month. The S&P 500 gained 4.54 percent, while the Dow Jones Industrial Average was up 4.93 percent in December. The Nasdaq Composite led the way as the technology-heavy index gained 5.85 percent. Falling interest rates supported higher valuations during the month, leading to positive returns for stocks.

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Monthly Market Risk Update: December 2023 [SlideShare]

December 20, 2023

Equity markets rebounded in November, with all three major U.S. indices up for the month. The S&P 500 gained 9.13 percent, while the Dow Jones Industrial Average was up 9.15 percent in November. The Nasdaq Composite led the way, with the technology-heavy index rising 10.83 percent. Falling interest rates supported higher valuations, leading to positive returns for stocks.

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Monthly Market Risk Update: November 2023 [SlideShare]

November 15, 2023

Equity markets continued to drop in October, with all three major U.S. indices down for the third consecutive month. The S&P 500 lost 2.10 percent during the month, while the Dow Jones Industrial Average was down 1.26 percent in October. The Nasdaq Composite saw the largest declines, with the technology-heavy index dropping 2.76 percent for the month. Rising long-term rates weighed on valuations, leading to negative returns for stocks.

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Monthly Market Risk Update: October 2023 [SlideShare]

October 18, 2023

Equity markets fell for the second consecutive month in September, causing all three major U.S. indices to end the month and quarter in the red. The S&P 500 lost 4.77 percent during the month, while the Dow Jones Industrial Average was down 3.42 percent. The Nasdaq Composite saw the largest declines, with the technology-heavy index dropping 5.77 percent. Rising long-term rates and concerns surrounding a potential government shutdown at month-end weighed on equities.

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Monthly Market Risk Update: September 2023 [SlideShare]

September 13, 2023

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.

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Monthly Market Risk Update: August 2023 [SlideShare]

August 23, 2023

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.

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Monthly Market Risk Update: July 2023 [SlideShare]

July 19, 2023

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.

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Monthly Market Risk Update: June 2023 [SlideShare]

June 14, 2023

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.

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Monthly Market Risk Update: May 2023 [SlideShare]

May 17, 2023

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.

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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.

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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.

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