Market Commentary

n July the market broadened out, and the big technology names rested. In August the script flipped. The giants led again, the average stock quietly slipped, and the indexes still finished higher.

For almost two years, a small group of giant technology companies drove nearly all of the market’s gains. In July that changed. The familiar leaders cooled off, and the rest of the market stepped forward to carry the load.

Tariffs. Rising yields. A war in the Middle East. And yet the market just posted one of its strongest months in years. Here’s the full story and why what happened in small-cap America may be the most telling signal of all.

When I last penned our monthly newsletter, markets were contending with elevated oil prices and uncertainty stemming from the conflict with Iran.

At Financial Cornerstones, we view markets through the lens of stewardship, not speculation. While headlines can stir anxiety, our role is to help you interpret events with clarity, discipline, and a long-term perspective grounded in wise decision-making.

In the early hours of February 28, global markets were shaken by significant geopolitical developments as the U.S. and Israel carried out coordinated strikes on Iran that resulted in the death of Iran’s Supreme Leader.