Market Newsletters

Newsletter October 2020

After relentlessly moving up in July and August, US equity indices reversed course in September. The S&P’s 500 ended the month down 3.80% on a total return basis. The Nasdaq Composite dropped a sharper 5.10% while the Russell 2000 (Small US Caps) was down a milder 1.95%. Internationally, the broad EPAC BMI (developed economies) was down 2.51% and the MSCI EM (emerging markets) a smaller 1.60%.

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Newsletter September 2020

August was another high-performance month for equities in the US and around the world. A combination of ultra-loose monetary conditions globally and encouraging economic news propelled indices to all-time highs.
The S&P’s 500 ended the month up 7.19% on a total return basis.

The Nasdaq Composite rose 9.70%, while the Russell 2000 (Small US Caps) was up 5.63%. Internationally, the broad EPAC BMI (developed economies) was up 5.29% and the MSCI EM (emerging markets) a much smaller 2.21%.

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Newsletter August 2020

Equities rallied globally yet again in July fueled by a combination of better-than-expected second quarter corporate earnings, an unprecedented general agreement among European nations with grants and low interest rate loans and a weakening USD.

S&P’s 500 ended the month up 5.64% on a total return basis. The Nasdaq Composite rose 6.85%, while the Russell 2000 (Small US Caps) was up 2.77%. Internationally, the broad EPAC BMI (developed economies) was up 4.5 and the MSCI EM
(emerging markets) a larger 8.91%.

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Newsletter July 2020

Equities continued to rally in June, albeit at a slower pace. The S&P’s 500 ended the month up 1.99% on a total return basis. The Nasdaq Composite rose 6.07%, while the Russell 2000 (Small US Caps) was up 3.53%. Internationally, the broad EPAC BMI (developed economies) was up 2.85% and the MSCI EM (emerging markets) a larger 7.85%.

The general market rise was associated with the gradual re-opening of most economies around the world. In the US, the positive market move in June was not without volatility, as illustrated in the chart below.

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Newsletter June 2020

The upward movement in equity markets worldwide continued in May, albeit at a slower pace. The S&P’s 500 was up a robust 4.76% while the Nasdaq went up 6.89% and the Russell Small Cap index 6.51%. As of the end of May, US equities had recouped close to 95% of their 2020 losses. The speed at which the correction took place was unprecedented and so has been the rebound.

Internationally, all indices rose but generally less spectacularly than their US counterparts. The S&P’s EPAC BMI (developed economies) rose 4.56%. Emerging market indices were up 3.29% (MSCI EM) and 3.97% (MSCI Frontier 100). The USD was down a bit In May, causing some export driven developed economies (Germany, Japan) to finally outperform. The DAX was up 9.37% in May and The TOPIX was up about 7.05%.

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Newsletter May 2020

In April, US equity indices bounced powerfully up from the lows reached at the end of March, recouping up to 50% of their peak to trough losses (February 19 to March 23). The S&Ps’ 500 finished up 12.35%. The Russell 2000 jumped 13.74% while the Nasdaq continued to do better than all, rising 15.49%.

Internationally, all indices rose but once again less meaningfully ..

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Newsletter April 2020

March was a month worthy of the record books. Investors suffered massive losses, on a worldwide basis. No significant asset class was spared. The S&Ps’ 500 lost 12.35%. The Russell 2000 went down 19.49%, while the Nasdaq fared a bit better, going down 10.03%. Internationally all indices dropped, often more than their US counterparts as a result of a rising USD (up 3%). The S&P’s EPAC BMI (developed economies) went down 14.05%. Emerging market indices went down from 15% (MSCI EM) to 22% (MSCI Frontier 100).

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Newsletter March 2020

In February, COVID 19 finally overwhelmed US equity markets. The S&Ps’ 500 lost 8.53%. The Russell 2000 went down 8.67%, while the Nasdaq fared a bit better, going down “only” 6.27%. Internationally all indices dropped, often more than their US counterparts as a result of a rising USD. The S&P’s EPAC BMI (developed economies) went down 9.28%.

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Newsletter February 2020

US equities finished January with contrasted performances. The S&P’s 500 was down .04%, while the Nasdaq Composite finished up 2.03% over the same period. The Russell 2000, meanwhile, was down a sharp 3.21%. Internationally, all indices were down with the S&P’s EPAC BMI (developed economies) weakening 2.39% and the emerging market MSCI EM index down 4.66%. The threat to global economic growth that the Coronavirus epidemic presents explains all of this negativity.

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Newsletter January 2020

Equities finished the year exuberantly. The S&P’s 500 rose 3.02% while the US Small Cap index progressed 2.88% and the Nasdaq Composite 3.63%.
Internationally, the USD declined and made it possible for most indices to rise, sometimes spectacularly. The EPAC BMI (developed economies) rose 3.47%.
In emerging markets the MSCI EM raced upward 7.46% while the Frontier 100 Index rose a solid 3.15%.

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Newsletter December 2019

Equities rose once again in November with US equities, in particular, climbing between 3% and 4% overall. The S&P’s 500 gained 3.63% while the US Small Cap index progressed 4.12% and the Nasdaq Composite 4.64%.

Internationally, the rising USD made it harder for indices to move up as spectacularly. The S&P EPAC BMI (developed economies index) rose only 1.03%. In Emerging markets performance was more contrasted, with the MSCI EM dropping -.14% while the Frontier 100 Index rose a robust 2.77%.

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Newsletter November 2019

After a difficult start, the month of October turned out to be positive for equities around the world. The S&P’s 500 gained 2.17%. The US Small Cap index rose a bit more with the Russell 2000 progressing 2.63%. Internationally, developed equities did well as the US dollar lost value against major currencies. As a consequence, international markets performed generally better than US markets.

The S&P EPAC BMI (developed economies index) rose 3.76%. Emerging markets equities were up too with the MSCI EM rising a solid 4.22% while the Frontier Index inched up .71%.

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About Fleurus Investment Advisory

Fleurus Investment Adivisory, LLC is located in Fairfield, CT and serves clients locally and across the country for financial planning and investment management. An initial meeting can be held at our office or we can communicate by phone or virtually with a video call. Use the form here to send us a message so that we can see if we are a fit for your needs.

Fleurus Investment Advisory, LLC
Office Visits By Appointment
Fairfield, CT 06824

(203) 919-4980

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