Several Notable Anniversaries
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Happy 250th Birthday, America! This is also the 130th anniversary of the Dow Jones Industrial Average first being published. From that original value of 40.94, it has grown to a June 30, 2026, value of 52,319.20 (an all-time high) as our capitalist society produced an economic boom. Every entrepreneur, chief executive officer, and corporate manager wakes up each morning pondering how to produce more with less. Every worker in every industry helps fulfill those aspirations.
The quarter that just ended saw a surge in stock market indices with the S&P 500 recovering from a negative first quarter. The technology sector had the highest returns despite a June swoon, while the energy sector gave back some of their outsized first quarter returns. Year-to-date, they, along with industrials, have been the leading market performers.
Looking to the second half of the year, consensus estimates are for the S&P 500 earnings to register double digit gains. Analysts expect the Fed to raise interest rates at least once, the opening of the Strait of Hormuz remains problematic, and the midterm elections loom.
As we at LVM begin our 39th year, we are mindful that our company exists solely because of our clients, and our dedicated team strives to meet each individual’s goals and objectives every day. We have seen many changes over the past decades in terms of industry fundamentals, valuations, sources of information, government policies, and geopolitics. What has not changed is our focus on understanding each client’s unique risk tolerance and their dreams and hopes for the future. We very much appreciate your continued confidence in us.
-The LVM Team