Each quarter, Aldrich Wealth Partner Nicole Rice and Chief Investment Officer 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 trajectory, notwithstanding increasing political concerns in the U.S., festering U.K. BREXIT uncertainty, and escalating trade rhetoric.
Against that backdrop, the Federal Reserve cut its key interest rate target twice during the period and began to set the stage for further changes in policy.
All told, the S&P 500 Index added 1.5% for the quarter and 20.0% this year. Non-U.S. markets, as measured by the MSCI EAFE Index, fell -0.5%, despite strength across much of developed Asia.
Emerging markets, as measured by the MSCI Emerging Markets Index, declined -4.0% as the trade spat between the U.S. and China weighed heavily across much of Asia.
The yield on the benchmark 10-year Treasury fell sharply from 2.00% at the end of trading the previous quarter to 1.67% at quarter-end.
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