At United Asset Strategies, our mission is to be a steward to our clients and to each other, ever mindful of our clients' unique financial goals and risk tolerances.
United Asset Strategies believes that the single most important investment principle is diversification. We are committed to providing an exceptional client experience, and delivering prudent, disciplined daily money management. United is here to help you plan for the possibilities, whether that’s through our Investment Management, Wealth Management, Pension Consulting, or Insurance Services.
One often-used adage on Wall Street is “the trend is our friend”. That was true of the second quarter results for equities, as investors experienced a continuation of the positive trends seen in the first quarter. To that end, the S&P 500 Index was up 8.3% in the second quarter and is now up 15.91% for the first half of 2023. Similar to the first quarter, the recovery in growth stocks continued, with the Russell 1000 Growth Index gaining 12.53% in the second quarter, resulting in a strong 28.36% return for the first half of the year. Value stocks, which held up well in 2022, continued to lag in the second quarter, up 4.07%. On the fixed-income side, while inflation data continued to cool, employment data remained strong in the second quarter. This kept additional Fed rate hikes in play, contributing to rising interest rates and further yield curve inversion. While credit spreads tightened, bond indexes generally declined for the quarter, with the US AGG Index down -0.84%. That being said, the AGG Index is still up 2.09% for the first half, owing to a solid first quarter.