Since stock price moves are mostly explained by changes in the expectations of the profits of the underlying companies, we have been tracking the trend of quarterly and full-year 2025 earnings for the S&P 500 as the year has progressed.
The uncertainty caused by the fluctuating tariff policies appears to be leading to caution for both consumers and the private sector. Consumer Confidence measures have been declining. This may lead to nothing or it may lead to less consumer spending.
The stock market has had a rough ride since February as expectations for corporate profits have been coming down. Bonds have been doing better.
View the latest Market History Report which provides the real returns on stocks, bonds and cash, plus annual inflation and the context of historical events.
The tech stocks labeled the Magnificent Seven last year, may not be so magnificent after all.
The political fight over the debt ceiling is impacting the bond market.
In case you were considering moving to another country after the election, here is how other countries stack up versus the US in taxes.