TCM Investment Outlook & Strategy - October, 2025
Stephen M. Mills, CIMA® PartnerChief Investment StrategistDuring the third quarter, the stock market continued the upward trend that began in April, following the Trump administration's announcement of record tariffs on most U.S. trade partners. Since its low on April 9, the S&P 500 Index has increased by 35%, as of its September 30 closing price.1 There...... More
TCM Investment Outlook & Strategy - July, 2025
Stephen M. Mills, CIMA® PartnerChief Investment StrategistThere’s an old American saying that most of us are familiar with: “May we live in interesting times.” I believe the last twelve months fit that description. We experienced a chaotic presidential election that resulted in an unexpected landslide victory for Donald Trump and Republican control of both the...... More
TCM Investment Outlook & Strategy - April, 2025
Stephen M. Mills, CIMA® PartnerChief Investment StrategistThere is an old adage most everyone is familiar with that warns about the consequences of someone’s desires, “Be careful what you wish for.” In our January 2025 Investment Outlook & Strategy letter, we indicated the possibility of a correction in the stock market sometime in the first half of...... More
TCM Investment Outlook & Strategy - January, 2025
Stephen M. Mills, CIMA® PartnerChief Investment StrategistIntroduction Although Santa Claus left a lump of coal for investors in the last trading week of 2024, both the U.S. economy and equities markets chalked up another year of gains. The economy was on pace to expand at an inflation-adjusted rate of just under 3% for 2024, according...... More
TCM Market Outlook and Strategy - October 21, 2024
Stephen M. Mills, CIMA® PartnerChief Investment StrategistAs we turn the page on the third quarter of the year and move into what is likely to be a very interesting and eventful fourth quarter, stocks are at record highs, interest rates are trending lower, inflation is subsiding and the U.S. economy just keeps chugging along like...... More
TCM Market Outlook and Strategy - July 25, 2024
Stephen M. Mills, CIMA® PartnerChief Investment StrategistThe U.S. financial markets continue to reward patient investors. Stocks, as measured by the popular benchmark S&P 500 Index, recorded a 15.3% total return in the first half of the year as of June 30, while the tech-heavy NASDAQ Index posted a gain of 14.5% after surging 44.6% in...... More
TCM Market Outlook and Strategy - April 5, 2024
Stephen M. Mills, CIMA®PartnerChief Investment Strategist The performance of the U.S. stock market has been nothing short of remarkable for the past five months as March marked the fifth consecutive month that the U.S. stock market recorded a positive gain, as measured by the S&P 500 Index.1 Since 1950, there have only been 30 instances where...... More
