Market Outlook: 3Q20

With no signs of inflation in sight and a Federal Reserve committed to ongoing monetary stimulus, we should expect a very long period of economic expansion ahead.
And that may well be part of the message the stock market is sending.

Roller Coaster

It’s been quite a wild ride in the markets over the first half of 2020. In the first quarter of the year, the S&P 500 fell 20%. In the second quarter, it rose 21%. For the full six months, the S&P was down 3%. I’m happy to report that Arjuna’s US stocks gained 1% in the first half.

We explained in our last Market Outlook why our stocks have done so much better than the market. It bears repeating as it not only explains our performance but illuminates the market action in the first half.

Click here to read the full market outlook.

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