The Market Rebounds
The strong showing in the equity market represented a rebound from the poor performance in the 4th quarter of 2018. The market was buoyed by moderate economic growth and better-than-expected corporate earnings growth. Interest rate stabilization and subsequent cuts added upside to US equities. Although global trade concerns remained the major focus in 2019 and into 2020, they did hinder positive moves in US stocks in 2019. We remain modestly positive for stocks and bonds. 2020 is a presidential election year, and we do anticipate increased volatility, but not like we saw in the 2016 election year.