- After December’s drawdown, markets snapped back during the first month of 2019. The S&P 500 posted its best January results since 1987, and it is up over 15% from the December lows. Smaller U.S. companies led the way, up 11.3% during the month.
- Investor confidence has been lifted by a stable U.S. economy and a dovish tone from the Fed, which kept rates steady in January, and communicated that a more patient and data dependent path for future policy decisions lies ahead.
- The longest U.S. government shutdown on record came to an end on January 25th—after 35 days—as a tentative deal was reached, reopening the government for three weeks while discussion around funding for a border wall continues.
- Oil prices rebounded, helping to lead the Energy sector up over 11% during the month, according to the S&P 500 Energy Sector Index. MLPs were up 12.6% based on the Alerian MLP Index.
- Trade talks between the U.S. and China are ongoing, as neither side is yet to reach a resolution, though momentum has been building toward the potential of a deal. Brexit negotiations continue to make little progress, as the March 29th deadline fast approaches.
