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Third Quarter 2025: Market Update
Excerpt from Westview article written in October 2025:
This note is for anyone who's been told, maybe not infrequently, that they need to look on the bright side. This year has been a test for those of us that have viewed the market’s resilience with some healthy skepticism. On a net basis, stocks have moved higher in the face of aggressive tariff policy, stubborn inflation, and a job market that is showing some signs of weakening. Investment in AI and continued growth of chipmakers have powered stocks, and their valuations, to new heights. The AI juggernaut, Nvidia, has reached not just industry-leading but market-leading size, illustrating how the fate of the two are more intertwined than ever. Still, despite this concentration risk and the S&P 500 already being up 14% through the first 9 months of the year (about 70th percentile of returns through 3Q), we see a set up for the market to end the year on solid footing.
Second Quarter 2
Excerpt from Westview article written in April 2025:
U.S. stocks have had a tumultuous year so far, driven by concerns over tariffs leading to slower growth, higher inflation, and greater accumulation of national debt. Peak to trough (February 19th to April 8th), the market dropped nearly 20%. Despite these issues remaining unresolved, and the addition of a rise in Middle East tensions, the market rallied 24% from its lows on April 8th and is now up 5.5% on the year. In our estimation, this is a fairly classic example of stocks climbing a “wall of worry,” which is to say that investors trade positive news updates that help to rule out a worst-case-scenario.
2024 In Review
Excerpt from Westview article from January 2025:
For the second year in a row, the stock market was up significantly in 2024. The S&P500 ended the year up 25%, the Dow was up 15% and the NASDAQ was up 27%. Notable drivers in the stock market were technology up 35.7%, communication services (includes Facebook, Alphabet), consumer discretionary 29.1%, and financials up 28.4%.
Tariff Turmoil
Excerpt from a Westview article written on April 7, 2025:
Is this another Trump negotiation tactic? How will nations react and enter negotiations? Will businesses move manufacturing back to the US (which takes years) or will they wait and see? These are all questions that will be watched closely.
Fair & Balanced Disclosure: The content of this page should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of writer as of the date of publication and are subject to change. This content herein does not constitute personalized advice from Westview or its investment professionals, or a solicitation to execute specific securities transactions. Westview is not a law or accounting firm and does not intend for any content to be construed as legal, accounting, or tax advice. Readers should not use any of this content as the sole basis for any investment, financial planning, tax, legal, or other decisions. Rather, visitors should consult their other professional advisers (including their lawyers and accountants) and consider independent due diligence before implementing any of the options directly or indirectly referenced. Past performance does not guarantee future results. All investment strategies have the potential for profit or loss, and different investments and types of investments involve varying degrees of risk. There can be no assurance that the future performance of any specific investment or investment strategy, including those undertaken or recommended by Westview, will be profitable or equal any historical performance level.
Posted in May 2023, this article guides you through SECURE Act 2.0 and how it stands to impact retirement.