Quarterly Commentary July 2022

Balancing Act Equity markets declined sharply in the second quarter, with the S&P 500 Index falling by 16.1%. When combined with the negative equity market returns in the first three months, the broad market has suffered its worst first half since the Nixon administration. Selling pressure was driven by a host of factors but could be more narrowly attributed to[...] Continue reading

Inflation In the Driver’s Seat – Fort Pitt Capital Group Quarterly Commentary

The nearly two-year winning streak for U.S. equity markets ended in the first quarter of 2022. Broad equity indices registered their first quarterly loss since the depths of the pandemic in early 2020. The S&P 500 Index declined by more than 12% by early March before staging an impressive rally in the closing weeks of the quarter. The S&P 500 finished the[...] Continue reading

Quarterly Newsletter: Turning the Page to 2022

Equity markets closed out 2021 on a high note with the S&P 500 Index advancing by 11% and logging its best quarter of the year. Investors continued to show a willingness to look past ongoing supply chain disruptions, consumer price inflation near 40-year highs, and expectations for removing accommodative monetary policy. And while news of the Omicron variant[...] Continue reading

Inflation: Transitory or Purgatory? – Fort Pitt Capital Group Quarterly Commentary

  While most major equity indices finished the quarter in negative territory, the S&P 500 Index eked out a 0.6% gain, just good enough for its sixth consecutive positive quarter. The path of least resistance remained higher for the better part of the third quarter, driven by a continued focus on easy financial conditions, accommodative monetary policy,[...] Continue reading

2nd Quarter 2021 Newsletter from Fort Pitt Capital Group

As Good as it Gets Market Update Equities posted another quarter of strong returns with the S&P 500 Index advancing by 8.6% and recording its fifth straight quarterly gain. Bullish sentiment was driven by the central bank liquidity tailwind, fiscal stimulus, continued vaccine progress, reopening momentum, and a strong corporate profit backdrop. While equity[...] Continue reading