June Monthly Commentary
Equities continued their march upward in June as the ongoing vaccine rollout and improving economic data bolstered sentiment. U.S. equities led the way with the S&P 500 Index posting a 2.3% gain for the month. In an about turn from earlier this year, growth stocks outperformed value amid lower rates and waning inflation concerns; the […]
May Monthly Commentary
Improving economic data and the ongoing vaccine rollout continued to bolster support for risk assets in May. Global equities pushed higher, with local markets outside the U.S. outperforming as they benefitted from a weaker U.S. dollar. The MSCI EAFE and MSCI Emerging Markets indexes increased 3.3% and 2.3%, respectively, last month; domestically, the S&P 500 […]
April Monthly Commentary
Global equities pushed higher in April as a relatively positive macroeconomic backdrop—progress with the vaccine roll-out, stronger-than-expected corporate earnings and ongoing stimulus tailwinds—bolstered market sentiment. In the U.S., the S&P 500 Index posted its third consecutive month of gains, adding 5.3% in April; this marked the best month for the index since November 2020. Outside […]
Challenging BP, ConocoPhillips, Shell to Accelerate Climate Action at their Annual Meetings
Kathy Mulvey, Chair of the UUA Socially Responsible Investing Committee, is monitoring the annual shareholders’ meetings of major oil and gas companies this month. Today she represented the UUA at the ConocoPhillips annual meeting, where a climate-related shareholder proposal calling on the company to set global warming emissions reduction targets consistent with the goals of […]
March Monthly Commentary
Global equities ended the first quarter in the black as ongoing inoculations and fresh fiscal stimulus in the U.S. provided a supportive environment for risk assets. Domestic equities outperformed their global counterparts with the S&P 500 Index increasing 4.4% in March; non-U.S. equities were negatively impacted by a strengthening dollar, though the MSCI All Country […]
UUCEF Sells Enbridge Holding
Acting on the recommendation of the UUA Socially Responsible Investing Committee, this month the UUA Investment Committee decided to sell Enbridge Inc. in the UUCEF’s separately managed accounts. Enbridge, an oil and gas pipeline company, is a partial owner of the Dakota Access Pipeline (DAPL) and is actively building the Line 3 pipeline in Minnesota […]
February Monthly Commentary
Following the volatile month of January, U.S. equities got off to a strong start in February, bolstered by optimism around ongoing inoculations, improving COVID-19 trends, and the proposed stimulus plan. However, as the weeks progressed, continued upward pressure on interest rates negatively impacted stocks amid concerns around the potential implication for valuations. Despite the increase […]
January Monthly Commentary
After a strong start to the year, developed market equities subsequently reversed course, ending January in the red. In the U.S., the S&P 500 Index fell 3.3% in the week ended January 29, pushing the monthly return into negative territory. The market volatility was fueled by a short squeeze in a number of heavily-shorted names, […]
December Monthly Commentary
Global equities ended 2020 with a bang, adding to already sizable gains from earlier months, as positive news around COVID-19 vaccines and a fiscal stimulus plan bolstered sentiment. In the U.S., the S&P 500 Index increased 3.8% in December; small-cap equities outperformed with the Russell 2000 Index gaining 8.7% last month. Non-U.S. equities outperformed their […]
November Monthly Commentary
November was a momentous month as investors, emboldened by the results of the U.S. elections and the potential success of multiple COVID-19 vaccines, bid up equities. The twin prospects of a divided government resulting in the likelihood of a diminished agenda for President-elect Biden, and the imminent implementation and distribution of the coronavirus vaccines fueled […]