August Monthly Commentary
Equity markets lagged in August as trade tensions between the US and China resurfaced and investors fretted over slowing global economic growth. The S&P 500 Index declined 1.6% last month as the US manufacturing sector grew at its slowest pace since 2009, according to Markit’s Manufacturing Purchasing Managers’ Index. The MSCI EAFE Index lost 2.6%, […]
July Monthly Commentary
Most asset classes recorded modest returns in July on the heels of stellar performance in the first half of the year. Domestic equities outperformed with gains of 1.4%—bringing year-to-date returns to 20.2%—as the S&P 500 Index hit a record high fueled by expectations of lower rates in the United States. Internationally, a strong dollar detracted […]
June Monthly Commentary
Reversing their sharp declines from a month earlier, equities posted strong gains in June on the back of a more accommodative pivot from global central banks responding to muted inflation, ongoing trade concerns and weakening economic data. The S&P 500 Index hit a record high, up 7.0% for the month and 4.3% for the quarter. […]
Andrew McGeorge Appointed UUA Chief Financial Officer
Andrew McGeorge will join the staff as the Association’s new Chief Financial Officer (CFO). Andrew succeeds Tim Brennan who is stepping down after thirteen years as Treasurer/CFO. Tim plans to continue to work in the field of socially responsible investing as a consultant to small and mid-sized institutions. Andrew is a Chartered Financial Analyst and a member […]
Votes of No-Confidence in ExxonMobil’s Climate Leadership
Before entering ExxonMobil’s annual meeting in Dallas last week, shareholders had to pass local activists holding a 100-foot-long banner with the message “Climate Crisis: #ExxonKnew—Make Them Pay.” I attended the meeting for the fourth year in a row and was not surprised that, once inside, shareholders wanted a voice in the company’s handling of climate change […]
May Monthly Commentary
It appears markets were ready to take off for the summer as the “sell in May and go away” adage took effect. Equities declined across the board amid renewed concerns around US trade policy. The S&P 500 Index came off its record high, losing 6.4% in May; emerging market equities lost even more, falling 7.3%, […]
BlackRock’s climate lobbying policies face shareholder challenge at today’s AGM
Shareholder proposal by faith investors likely to attract substantial support. The shareholder proposal on lobbying disclosure filed by faith-based investor the Unitarian Universalist Association will go to a vote later today at BlackRock’s AGM in New York, amid expectations that it will again garner substantial support. A similar proposal, asking for enhanced discourse on lobbying with a […]
April Monthly Commentary
Coming off a strong first quarter, stocks continued their run in April amid the Federal Reserve’s more dovish stance. The US led the way, with the S&P 500 Index increasing 4% during the month – pushing year-to-date returns to 18.2%. International equities were up 2.8%, according to the MSCI EAFE Index, while emerging market stocks […]
March Monthly Commentary
Following the market rout at the end of 2018, equities made a strong comeback in the first quarter. Risk assets pushed higher as the Fed signaled no additional rate hikes in 2019. The US led the way, with the S&P 500 Index increasing 1.9% in March; international and emerging market equities were also in the […]
February Monthly Commentary
Global equities continued their winning streak in February as concerns surrounding US economic growth faded and the outlook for a US-China trade deal improved. As a result, the S&P 500 Index increased 3.2% during the month. Chinese stocks returned 3.5%, according to the MSCI China Index, relative to broad emerging markets which rose a modest […]