Each quarter, Aldrich Wealth Partner Nicole Rice and Chief Investment Office Darin Richards provide market commentary and make projections for the upcoming quarter. This conversation is accompanied by a deeper dive into market performance and outlook as well as featured articles on popular topics such as retirement planning and changes in interest rates.
Equity markets continued their upward ascent as a dovish tone from the Federal Reserve and trade topics dominated investment discussions. All told, domestic equity markets, as measured by the S&P 500 Index, added 4.3% for the quarter.
The performance across domestic markets was indiscriminate, as every sector except Energy produced positive results. Large cap stocks outpaced small cap stocks while growth bested value.
A sharp drop in May for developed non-U.S. markets was sandwiched between gains in April and June. European Central Bank (ECB) President Mario Draghi hinted at further monetary policy easing if inflation remains low.
Both riskier assets and government bonds posted strong gains in the quarter. The Barclays Universal Bond Index ended the second quarter up 3.1% as bond yields continued to drop.
Despite a sharp pullback in May, stocks performed very well for the first six months of the year. Economic growth is poised to slow modestly, particularly among developed markets, as trade concerns are weighing on global growth. Stocks will likely need a resolution to the trade issues or a more dovish Fed in order to continue moving higher.
For more on market trends this quarter, watch Nicole’s interview with Darin or read our entire quarterly market commentary.
Meet the Authors
Partner + Chief Investment Officer
Darin Richards, CFA®
Aldrich Wealth LP
Darin joined the Portland wealth management firm in 2004, bringing more than a decade of investment and financial consulting experience with him. As chief investment officer for Aldrich Wealth, Darin is responsible for developing, and implementing our investment philosophy and leading the investment committee. He works directly with some of our most complex and largest clients and also…
- Series 7 and 63 security exams
- Chartered Financial Analyst (CFA®)
Partner + Director
Nicole Rice, CPA
Aldrich Wealth LP
Nicole has dedicated her entire professional career to helping individuals and corporate clients with their financial needs. She has experience working in the areas of wealth management, retirement planning, tax accounting, design and implementation of non-qualified benefit plans, insurance, and qualified benefit plans. Nicole provides investment-related guidance to individuals and businesses to meet their short…
- Series 65 securities exam
- Retirement planning
- Design and implementation of corporate retirement plans
- Individual wealth management
- Certified Public Accountant