The stock market delivered a third consecutive quarter of gains, building on the rally that started in October 2022.  The S&P 500 finished the quarter up 8.7% and advanced 16.9% for the first half of 2023. The top performing sectors for the period were once again Information Technology, Communication Services, and Consumer Discretionary, while those […]

The S&P 500 continued to climb a wall of worry in the first quarter of 2023, breaking out with a strong January, dropping in February and the first half of March, and then rallying to post a +7.5% return for the quarter.  Evidence is mounting that Federal Reserve rate hikes are having the desired effect […]

The S&P 500 Index had three extraordinarily strong years from 2019-2021, generating a 100.3% total return which culminated in an all-time high on January 3rd, 2022. Then, the S&P 500 stair-stepped lower throughout a volatile year, officially entering bear market territory in June. Though the market staged a 7.5% fourth quarter advance, including a multi-year […]

Stubbornly high inflation and a Federal Reserve belatedly determined to bring it down, even if it causes a recession, pushed markets lower for the third quarter in a row.  The bear market continued, with the S&P 500 returning -4.9% in the third quarter to bring its YTD loss to -23.9%. The top performing sectors in […]

Sustained inflation and supply chain pressures exacerbated by the ongoing war in Ukraine, a fresh set of COVID lockdowns in China, and an aggressive interest rate hiking cycle from the Federal Reserve caused equity markets to plummet in the second quarter.  The S&P 500 officially entered bear market territory in June, closing 2Q with a […]

Following a mostly calm ride in 2021, the stock market experienced serious turbulence due to both expected and unexpected factors in the first quarter of 2022.  Persistent inflation, a new Federal Reserve interest rate hiking cycle, and a violent incursion by Russia into Ukraine generated volatility not seen in a year.  The S&P 500 underwent […]

The S&P 500 Index continued its remarkable run in the fourth quarter, climbing the proverbial wall of worry to close the year on a very high note.  Amid concerns about inflation and supply chains, Federal Reserve tapering, and COVID-19 variants, the index gained 11.0% in the quarter and hit a new all-time high on December […]

Picking up where it left off at the end of the second quarter, the S&P 500 continued hitting new record highs in the third quarter.  Generally positive global vaccination and re-opening efforts, combined with sustained monetary and fiscal stimulus, offset the temporary economic headwinds from a spike in Delta variant COVID-19 cases.  The S&P 500 […]

Fueled by rapidly dropping global COVID-19 cases and continued monetary and fiscal stimulus, equity markets continued to hit new record highs, with little volatility, in the second quarter.  Economic growth accelerated and the S&P 500 outpaced Q1’s solid return by gaining 8.5% to bring its year-to-date gain to 15.2%. The top performing sectors in the […]

In Loving Memory of R. Randall Grace, Jr. (1971-2021) The Chilton Investment team is shocked and deeply saddened by the sudden passing of our friend and colleague, Randall Grace. Randall was an incredibly talented and hard-working teammate who contributed immensely to the success of the G&I team and Chilton as a whole. We will miss […]