Posted in Market Commentaries, Media Appearances, Webinars
Palisade Capital Management is proud to co-sponsor the 25th Annual Theodore D. Veru Symposium (Virtual Event) entitled "The Future of Finance: Digital Assets, Cryptocurrency, Decentralized Finance" on Thursday, April 7, 2022 at 5:30 pm.
What a year! The bellwether Standard & Poor’s 500® index of domestic stocks rose by 27% during the last twelve months, one of its best showings in the last twenty years. If key events from the “real world” of 2021 had been known to us last January, we would not have predicted such a rosy outcome; a pileup of disruptions might have been expected to produce a market headwind.
Palisade reviews the third quarter of 2021, which saw all three major stock market indices – the Dow Jones Industrial Average, Standard & Poor’s 500® Index, and NASDAQ Composite – ending the quarter about where they began. The period started off well, as the S&P rose over 5% in the first two months of the quarter, but bearish sentiment sank the index in September.
Palisade reviews the second quarter of 2021, which saw gains in most stock market averages as many closed at or near all-time high price levels. All three major stock market indices – the Dow Jones Industrial Average, Standard & Poor’s 500® Index, and NASDAQ Composite – notched solid gains in the last three months, and two ended the quarter at all-time highs.
Palisade reviews the first quarter of 2021, which saw gains in most stock market averages, modest declines in bond prices, and increases in many commodity prices. Last month marked the one-year anniversary of the pandemic shut-down of the American economy.
Palisade reviews a remarkably unusual year as we remember last year’s financial market extremes: anxiety in the first months of the COVID-19 pandemic (March/April), stabilization at mid-year, and sharp recovery in the final quarter of 2020 as investors cheered the regulatory approval of COVID vaccines.
The lockdowns and flash recession which followed the beginning of the COVID-19 pandemic precipitated a reset of the global economy and initiated a new business cycle. Recent stock market weakness, however, is a cyclical correction in a secular bull market, and we believe the U.S. remains early in the recovery phase of this new cycle.
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