Throughout Q3 2026, rebounding energy prices and higher interest rates pressured broader financial markets. The escalating conflict in Iran drove increases across crude and refined fuels, raising concerns that these input costs could contribute to additional inflation, negatively impacting consumers and businesses.

Eric Kulwicki CFA®, CFP® provides his investment outlook and positioning as of September 8, 2026.

As we look to the remaining months of the year, the events of the first half are helpful to reinforce the perspective and humility needed…

In the second quarter, global equity and credit markets rebounded from first-quarter weakness as the U.S.-Iran conflict transitioned into a series of intermittent ceasefires and ongoing attempts at de-escalation.

Eric Kulwicki CFA®, CFP® provides his investment outlook and positioning as of June 8, 2026.

The initial outlook for the year reflected a sense of optimism as investors anticipated moderate U.S. economic growth alongside strong corporate earnings and global stability.

Eric Kulwicki CFA®, CFP® provides his investment outlook and positioning as of March 10, 2026.

Diversified global investors were rewarded in Q4 and throughout 2025. The year witnessed a significant shift where foreign equities outperformed domestic markets, precious metals outperformed equities, and the U.S. dollar weakened against foreign currencies...

Eric Kulwicki CFA®, CFP® provides his investment outlook and positioning as of December 10, 2025.

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act into law, making permanent certain tax cuts originally enacted in 2017 that were set to expire, extending others and adding new tax cut provisions. While the bill was widely anticipated to pass, it removed one factor of uncertainty for investors and was generally bullish overall.

Coming into Q2, equity markets were in decline as investors anticipated President Trump’s tariff “Liberation Day” announcement on April 2nd. When announced, the new tariff rates were higher than many had anticipated.

As the Trump administration started enacting its policies, investors appeared to rethink their bullishness.  By mid-February, U.S. large caps reached their near-term peak and started to trend lower.