by Neil Gilliss, MBA, CFP | Jan 17, 2025 | Newsletters
Markets finished the 4th quarter with more upside and the S&P 500 gained 25% on the year. Along the way, there were 57 record closes as inflation continued its descent, the Fed started lowering rates, and AI lifted the big tech stocks to lofty levels. These are the best performing back-to-back years for the stock market since 1998.
The Dow (DJIA) returned 16% and the Nasdaq increased by 25%. Although the major indices performed quite well, the returns were extremely concentrated. The Magnificent Seven (large technology stocks) accounted for more than 53% of the S&P 500’s total return and Nvidia alone made up 21% of the return. Click 2025 Outlook to read more of our Newsletter.
by Neil Gilliss, MBA, CFP | Oct 14, 2024 | Financial Planning, Newsletters
Despite wars, hurricanes and a contentious election, the market continues its historic rise, consistently hovering around all-time highs. Click here to read Newsletter.
by Neil Gilliss, MBA, CFP | Aug 13, 2024 | Financial Planning, Newsletters
Canal Capital Management is pleased to announce that we have been selected to the Inc. 5000 list for 2024, our sixth year in a row. This is an annual ranking that consists of the fastest growing private companies in America. Canal came in ranked at number 4,790, and was one of only 36 Richmond businesses included on the list.
How the 2024 Inc. 5000 Companies Were Selected
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 through 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies–as of December 31, 2023. (Since the period under review, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. Growth rates used to determine rankings were calculated to four decimal places. All honorees must pass Inc. editorial review
by Neil Gilliss, MBA, CFP | Jul 18, 2024 | Financial Planning, Newsletters
The first half of the year is now in the books, and markets continued to perform well but were dominated by just a few names. For the first six months, the S&P 500 was up 14%, but 30% of that return was attributed to Nvidia which rose by 149% as the AI hype continued. Click HERE to continue reading out market update.
by Neil Gilliss, MBA, CFP | Jul 17, 2024 | Newsletters
Click HERE to read more on our 2024 Election Insights.
by Neil Gilliss, MBA, CFP | Apr 15, 2024 | Financial Planning, Newsletters
The first quarter turned out to be more of the same for markets, with stocks (S&P 500) up 10%, continuing the strong momentum of 2023. Any weakness only lasted a couple of days and investors bought the dip resulting in 22 all-time closing highs. Market leadership has shifted from just a few names to being broader based as 10 of the 11 sectors rallied. Click HERE to continue reading our market update.
