SIP'S Newsletters

For the last three years, we've asked ourselves can the equity market continue to go up without the Magnificent 7? The stock market responded with a resounding yes. With the index up 1019% and the Magnificent 7 Total Return Index down 1.74%, the opinion that the mega-caps....

May was a strong month across the board for equity strategies, with AI and technology stocks recovering after their nearly
eight-month stretch of underperformance compared to the broader market...

We often caution investors against making dramatic asset allocation changes during periods of volatility, and the month of April once again proved this lesson to be true. Through the first quarter ending March 31, the S&P 500...

As we officially wrap up the first quarter, the S&P 500 is down 4.35% on the year. This has quite possibly been one of the most puzzling stretches of day-to-day market mozvement in recent history. It has also reminded us of important lessons...

If investors were expecting February to bring less drama than January, they were sadly mistaken. On the macro front, the picture became less clear for the Fed’s path. GDP came in below expectations, while PCE...
 

As we closed the first month of 2026, an unusually dense mix of domestic and geopolitical developments competed for attention, from Iran and Greenland to immigration and prospective Federal Reserve nominations. In an...

December was a mixed bag, but equities did what they needed to do, pushing most major indices back to all-time highs and delivering another strong year overall. In many ways, 2025 felt like an “everything rally,” with most equity styles finishing the year...

While the last trading day of the month had a holiday early close, the market was open long enough for the S&P 500 to edge out a positive month. The same, unfortunately, cannot be said for tech...

October produced a positive month, primarily for the mega-caps. The S&P 500 Market Cap Weighted Index was up 2.24%, and the S&P 500 Equal Weight Index was slightly negative at −0.95%. Still, equity investors...

September looked like a return to form for mega-caps: the Bloomberg Magnificent 7 Total Return Index rose 9.01%, outpacing the S&P 500 (+3.64%) and the average S&P 500 stock (+1.10%)....

With Labor Day marking the unofficial end of summer, market rotation is showing signs of durability. August helped propel the S&P 500 to fresh highs, and, importantly, breadth improved beyond the market leaders...

July was another strong month for domestic risk assets, with U.S. stocks outperforming even foreign equities during the month, though they still trail year-to-date. Several of the “Magnificent 7” companies reported impressive...

Risk assets, barring a few exceptions, delivered strong performance to start the year - despite enduring a brief 21% correction in April. Following the tariff-driven selloff, markets have fully recovered, with both the S&P 500...

Had you followed the old adage, “Sell in May and go away,” you would have locked in a ~5% year-to-date loss on the S&P 500 and missed a 6.29% rally - the best May performance in 35 years. While it’s far too soon to ring...

At first glance, April appeared relatively uneventful, with the S&P 500 finishing the month down less than 1%. However, beneath the surface, markets experienced notable volatility, with several sharp moves driven...

The month of March closed out the first quarter of 2025 on a weaker note, with negative returns across most major U.S. equity indices. However, not all equity strategies followed suit. In fact, there were several...

The S&P 500 declined 1.4% last month, offsetting half of January’s gains to leave the S&P 500 Index up 1.4% so far in 2025. The market appears to be broadening beyond the “Magnificent 7” stocks with...

January started off strong, with markets broadly in the green. So far, earnings season has been solid, inflation
data remains on track, and fourth-quarter GDP has exceeded...

December was an eventful month in the equity markets. We saw the second-largest volatility spike of the year, yet 2024 closed as an incredibly strong year for stocks. December marked a return…

November was an eventful month to say the least.
The market was braced for volatility as the third quarter earnings season concluded and the US Presidential Election was decided....

Historically known as one of the worst months for the stock market, September bucked the trend posting the S&P’s first green month since 2019, up 2.14% for the month. Growth strategies were the clear winner....

August posed an eventful month and if you blinked, you missed the largest volatility spike since the COVID- led economic shutdown. Oddly enough, the S&P 500 was off less than 10% this time and has since nearly....

Up until Halloween, market breadth was narrowing, favoring the Magnificent 7 - essentially the entire Info Tech sector. The last trading day of the month erased the theme of the previous....

July brought an incredible amount of excitement to what typically is the heart of the summer doldrums. With a cooler than-expected CPI print in the beginning of the month, small and mid-caps, along with large cap value/dividend stocks...

Much like the full year, June equity returns were driven by large cap growth stocks. As you know, this narrow leadership does not bother us. Rates dipped during the month to help bonds, but, surprisingly, did not help...

The month of May started with weaker-than-expected jobs data that suggested the economy is still adding jobs, but just not as many as anticipated. This added support to the “soft landing” scenario that is predicated...

The month of April started off with better-than-expected jobs data followed by higher- than-expected inflation data that likely caused investors to worry that the Federal Reserve Board (Fed) will be unable to lower...

Solid economic data gives support to continued positive stock and bond returns. The so-called “soft-landing” scenario is playing out despite higher-than-expected inflation readings reported during the month...

We continue to like the set up for stocks and bonds in 2024. February posted strong returns for stocks even as the yield on the 10-year U.S. Treasury moved higher.

The first five trading days of trading in January were down -0.13% for the S&P 500 but reversed to finish the month positive. This has positive implications for...

The “first five days” theory is an old market adage that suggests that if the first five trading days of the year have a positive return, then full year returns are likely to be positive...

Stock and bond returns were noticeably strong during the month of November largely due to declining interest rates. Recall that we alerted clients to the fact that...

The S&P 500 declined -4.87%, the NASDAQ Composite lost -5.81%, the Russell 2000 dipped -6.03% and the MSCI ACWI index fell -3.11% during September...

A spike in interest rates during the month of August led to weak returns across most markets. In addition, recall that we warned last month that August and September tend to...

The month of July saw a continued mixture of positive economic news releases and signs that inflation has peaked. We have suggested in the past that...

The month of June had an impressive start with the release of payroll data that was much stronger than investors anticipated. The economy added 339,000 jobs...

Despite the continued chorus of negativity from politicians, news outlets and financial media, large cap stocks continue to deliver positive results while small caps...

The stock market rally that began on October 13, 2022, continued throughout most of January to mercifully start the year on a positive note. Notably, the first five trading days…