June Swoon

S&P Quarterly results were plus 0.3% through June 30, 2015. Year to date results were positive 1.2% through June 30, 2015. Year to date the market has been volatile, barely holding on to gains for the year. Volatility will continue. Upward moves during the first half were later given up over geopolitical concerns.

At home, GDP growth has been slow, profits so-so and the markets have just not had the catalyst for gains. Headlines have complicated matters. The long dance regarding interest rates has teased investors. Overseas, Greece and China have loomed large. Each time Greece has appeared about to default or leave the Eurozone, or both, the markets have reacted negatively. Each time it appeared a deal between Greece and its creditors might be imminent, the market reacted positively.

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