Markets started the quarter with a strong move up, but retreated when a resolution to the US/China trade conflict was delayed. We believe trade negotiations will be settled sometime this summer. Year-to-date, the S&P 500 is up about 15%. The technology sector leads the way (up 23%) and healthcare lagging (up 3%). Growth is performing better than value.

Looking forward we can expect the market to remain volatile for the rest of the year. Aside from the noise from tariff negotiations, Brexit and the direction of interest rates will add to uncertainty as we work through the remainder of the year.

I do not foresee a deep or broad sell off anytime soon. The economy is strong, unemployment remains low and their are little if any signs of inflation. Overall, stocks appear to be fairly valued, but spot buys always exist and we will be watching for them.