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Equity Market Views: Fourth Quarter 2019

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Guggenheim recently released its 4th Quarter Equity Market Views.  Topics include:

Looking Back – Q3 Review

For the quarter, the S&P 500® Index produced a total return of 1.70 percent, the NASDAQ Composite gained 0.18 percent and the Dow Jones Industrial Average tacked on 1.83 percent. Gains during the quarter were generally widespread with eight of the eleven S&P sector groups finishing in positive territory.

Looking Ahead

As we enter into the last months of the year, Guggenheim’s tactically cautious view on the market remains in place. Guggenheim shifted to a more neutral outlook for the domestic equity market.

Positioning /Sector Thoughts

Amidst lower yields globally, equity investors turned to high yielding assets for a defensive allocation in addition to supplement fixed income assets in the third-quarter—these high yielding assets include utilities, telecommunications, master limited partnerships (MLPs), and real estate investment trusts (REITs).

Key Return Drivers

  • Earnings Growth
  • Multiple Expansion
  • Dividends

For more information regarding Guggenheim’s 4th Quarter Equity Market Review and to read the full paper including UIT Investment Implications, please click on the link below:

Market Views: Fourth Quarter 2019

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