MARKET RECAP

A big week for stocks as US markets rallied by 3.64% and international stocks by 3.37%. Bonds were off by 0.52%.

A winning quarter wrapped up on Friday, with US markets up by 7.2% and the Nasdaq up by 17%. Bonds also rallied for the quarter, up by 3.23%, as the 10-year yield fell from 3.826% to 3.491%. The much-feared recession has yet to arrive, and the labor market is still strong. The Fed has continued to raise rates, but that did not stop a winning quarter.  Estimated earnings for the quarter just ended are expected to drop by 4.6%, following a 3.2% decline in Q4. But investors seem to be looking past all of that.

For all the predictions by the “experts” that the market will turn down with all of the bad news, stocks have taken a near-term turn upwards and are back up the declining trend line.

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