Second Quarter 2018 – “Unresolved”

Second Quarter 2018 – “Unresolved”

Second Quarter – "Unresolved"

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The second quarter was marked by a series of escalating skirmishes on the issues of trade and tariffs between the US and its global trading partners. Equity markets ended the period with mixed results; domestic equity markets performed well, with the S&P 500 gaining 3.4%, while the MSCI EAFE and the MSCI Emerging declined 1.2% and 8% respectively.  US markets climbed higher on positive earnings momentum, particularly in the growth and small-capitalization-oriented parts of the market, while international markets were negatively impacted by the strengthening of the US dollar and concerns about rising protectionism.