April 2, 2019
Happy Spring! As the warm weather (hopefully) begins to descend on us we wish you the best over the coming months!
We’d like to begin by sharing a few recent developments that we’re excited to announce. First, Brighton Securities celebrated its 50th Anniversary on March 5th, 2019. We are so thankful for the opportunity to continue to serve you and carry on with our firm’s tradition of service that’s now spanned half a century. Shortly after celebrating our 50th, our firm was recognized as the Top Small Business in Rochester’s 2019 Top Workplaces List. We’re thankful to be a part of Brighton Securities and for the opportunities it brings to work for you.
A TALE OF TWO QUARTERS
What difference a quarter can make! While 2018 ended with the S&P 500 losing 6.5%, the worst year since 2008, the start to 2019 has been almost the exact opposite. With a 13% return in the first quarter, the S&P 500 logged the best start to a year since 1998. So, what happened?
Concerns that the United States and China would be entering a large-scale trade war appear to have calmed. Much of this is due to continued talks and progress between the US and China behind close doors. Coupled with the fact that trade wars rarely work, and the interdependence shared between the two countries, a prolonged economic conflict seems less likely.
2018’s end also came with the Federal Reserve Board anticipating four more interest rate hikes in 2019. Though rates remained near historic lows, concerns of further rises in rates provided added turmoil in the markets. The “Fed” has since revised predictions of interest rate hikes, indicating on March 20th that we aren’t likely to see any raising of interest rates in 2019.
In short, the uncertainty that drove markets down late last year appears to have calmed, and markets have reacted favorably to start the year.
GREAT, SO WHAT’S NEXT?
In an ideal world, our crystal ball would provide all the answers to what’s ahead in the markets and we’d all be on a beach relaxing in the sun. While warmer weather is likely in our forecast, crystal balls exist only in worlds of fantasy, but it’s a nice thought. In reality, our views of the economy and markets haven’t changed much since the year started. Changes, both good and bad will occur. We maintain a positive view of our economy and growth in the stock market over a long-term time period. The daily ups and downs, though sometimes stressful, are best weathered with patience, consistency, and perspective.
POINTS OF INTEREST
- Deadline to file your 2018 taxes – April 15th!
- Stock Market Holidays: Markets will be closed in observance of the following holidays in the coming months.
o Good Friday – Friday, April 19th
o Brighton Securities 10th Annual Shred Day- Friday, May 24th
o Memorial Day – Monday, May 27th
o Batavia - Brighton Securities 8th Annual Shred Day – Friday, May 31st
- One of our priorities this year is to confirm beneficiaries are in proper order for our clients. Please review your statements to confirm your beneficiaries, and if a change is needed, please let us know!
- As a reminder, if you would like to make a request to have funds sent to you from an investment account, please call to make this request. For security purposes we cannot issue funds via e-mail, only by speaking in person or over the phone.
The Wade Group