Overcoming a brief retreat in the first half of August, the stock market continued its march higher posting solid gains in the third quarter. Now up 14% and 22% for the year, the S&P 500 and NASDAQ seem to set new highs daily. The MSCI All-World international index is up 22% year-to-date. The strong international gains have been a welcome development for Woodmont given our steps in recent years to increase investment exposure to cheaper overseas stocks with appreciated U.S. dollars. Even the small-cap Russell 2000, which just six weeks ago was essentially flat for the year, is now up 11% year-to-date after a huge bounce on renewed enthusiasm for a successful tax reform bill.
- Created on .