Quarterly Market Reviews
2022
Q1 2022 Market Review
U.S. equity markets had a volatile first quarter, briefly entering correction territory, before ending the quarter down 5.3% (Russell 3000). International equities experienced similar volatility led by geopolitical events, ending the quarter down 5.4% (MSCI ACWI ex U.S.).
2021
Q4 2021 Market Review
U.S. equity markets rallied to record highs in the fourth quarter, rising 9.3% (Russell 3000) on strong corporate profit growth. International equities rose to a lesser extent, posting a 1.8% gain over the quarter (MSCI ACWI ex U.S.).
Q3 2021 Market Review
U.S. equity markets (Russell 3000) were essentially flat in the third quarter despite continued economic improvement and resurgent corporate profits. International equities declined modestly, posting a 3% loss over the quarter (MSCI ACWI ex U.S.).
Q2 2021 Market Review
U.S. equity markets rose 8.2% (Russell 3000) in the second quarter on the wide-spread vaccine rollout and resurgent economic growth. International equities rose to a lesser extent, posting a 5.5% gain over the quarter (MSCI ACWI ex U.S.).
Q1 2021 Market Review
U.S. equity markets rose 6.3% (Russell 3000) in the first quarter on continued improvement in economic and COVID-19 data, as well as a $1.9 trillion coronavirus relief package from Congress. International equities rose to a lesser extent, posting a 3.5% gain over the quarter (MSCI ACWI ex U.S.).
2020
Q4 2020 Market Review
U.S. equity markets experienced a strong rally, up 14.7% (Russell 3000) in the fourth quarter on multiple COVID-19 vaccine approvals and a coronavirus relief package from Congress. International equities rose to a greater extent, posting a 17% gain over the quarter (MSCI ACWI ex U.S.).
Q3 2020 Market Review
U.S. equity markets moved higher, up 9.2% (Russell 3000) in the third quarter as the economy continued to recover and markets benefitted from significant fiscal and monetary stimulus. International equities rose to a lesser extent, posting a 6.3% gain over the quarter (MSCI ACWI ex U.S.).
Q2 2020 Market Review
U.S. equity markets rebounded sharply, up 22.0% (Russell 3000) in the second quarter as the economy started to reopen and markets benefitted from significant fiscal and monetary stimulus. International equities rose to a lesser extent, posting a 16.1% gain over the quarter (MSCI ACWI ex U.S.).
Q1 2020 Market Review
U.S. equity markets declined sharply, down 20.9% (Russell 3000) in the first quarter on a global economic contraction from widespread COVID-19 lockdowns. Markets were simultaneously hampered by an oil price war between Russia and Saudi Arabia. International equities suffered as well, posting a 23.4% loss over the quarter (MSCI ACWI ex U.S.).