News

Commentaries, white papers, and news items are listed here as they become available. To view and sort by date or category, please visit the Wilshire Advisor Solutions Knowledge Center. For media inquiries pertaining to Wilshire Associates, please contact our corporate headquarters at 1-310-451-3051.

Friday, November 10, 2017

» October 2017 Monthly Market Commentary
Market Commentary, Commentary

Domestic equity markets were positive in October, as the Wilshire 5000 Total Market IndexSM returned 2.15% and the S&P 500 Index returned 2.33%. Large cap stocks continued to outperform their small cap counterparts this month, with the Wilshire U.S. Large Cap IndexSM and the Wilshire U.S. Small Cap IndexSM returning 2.31% and 0.76%, respectively.

Tuesday, October 10, 2017

» Third Quarter 2017 Market Commentary
Market Commentary, Commentary

The U.S. stock market, represented by the Wilshire 5000 Total Market IndexSM, was up 4.59% for the third quarter of 2017. The market has been posting strong gains since the third quarter of 2015, up 17.10% annualized for the past two years. Equity investors are in part responding to strong earnings reports, with reported earnings up in the double digits for each quarter of the first half of 2017. 

Tuesday, September 12, 2017

» August 2017 Monthly Market Commentary
Market Commentary, Commentary

U.S. Economy and Markets

  • Domestic equity markets were positive in August, as the Wilshire 5000 Total Market IndexSM returned 0.24% and the S&P 500 Index returned 0.31%.
  • Market volatility, measured by the CBOE Volatility Index (VIX), ended the month at 10.59, an increase from its July close of 10.26
  • Performance across GICS sectors was mixed for the month, with the Information Technology and Utilities sectors leading the group, gaining 3.28% and 3.08%, respectively. On the other hand, the Energy sector was the worst performing sector in August, returning -5.27%.
  • Large cap stocks continued to outperform their small cap counterparts this month, with the Wilshire U.S. Large Cap IndexSM and the Wilshire U.S. Small Cap IndexSM returning 0.41% and -1.39%, respectively.
  • U.S. manufacturing activity, as measured by the Institute for Supply Management’s PMI, registered 58.8% in August, the 12th straight month of growth (over 50%) in the manufacturing sector. This is the highest reading since April 2011.

Thursday, August 10, 2017

» July 2017 Monthly Market Commentary
Market Commentary, Commentary

U.S. Economy and Markets

  • Domestic equity markets were positive in July, as the Wilshire 5000 Total Market IndexSM returned 1.88% and the S&P 500 Index returned 2.06%.
  • Market volatility, measured by the CBOE Volatility Index (VIX), ended the month at 10.26, a decrease from its June close of 11.18.
  • Performance across GICS sectors was positive for the month, with the Telecommunications Services and Information Technology sectors leading the group, returning 5.87% and 4.09%, respectively. On the other hand, the Industrials sector was the worst performing sector in July, returning 0.22%.
  • Large cap stocks continued to outperform their small cap counterparts this month, with the Wilshire U.S. Large Cap IndexSM and the Wilshire U.S. Small Cap IndexSM returning 1.98% and 1.08%, respectively.
  • U.S. manufacturing activity, as measured by the Institute for Supply Management’s PMI, registered 56.3% in July, down from the June reading of 57.8%. June’s was the highest since August 2014. Generally, a reading above 50% indicates expansion.

Wednesday, July 12, 2017

» Second Quarter 2017 Market Commentary
Market Commentary, Commentary

Real GDP growth slowed to 1.4% annualized during the first quarter of 2017. This was not much lower than the 1.6% pace set in 2016. Both consumer and business spending contributed to growth. In an encouraging sign, nonresidential fixed investment was up a little more than 10%, thanks in part to increased spending on gas and oil well drilling. A shrinking trade deficit contributed to growth as well, with a contraction in government spending representing the only detractor.

Wednesday, June 7, 2017

» May 2017 Monthly Market Commentary
Market Commentary, Commentary

U.S. Economy and Markets

  • Domestic equity markets were positive in May, as the Wilshire 5000 Total Market IndexSM returned 1.00% and the S&P 500 Index returned 1.41%.
  • Market volatility, measured by the CBOE Volatility Index (VIX), ended the month at 10.41, a decrease from its April close of 10.82.
  • GICS sector performance was mixed in May, with the Information Technology and Utilities sectors leading the group, returning 4.31% and 3.97%, respectively. On the other hand, the Energy sector was the worst performing sector in May, falling -3.67%.
  • Growth stocks delivered stronger performance than their value-oriented counterparts this month, as the Wilshire U.S. Large Cap Growth IndexSM and the Wilshire U.S. Small Cap Growth IndexSM posted returns of 1.95% and -1.37%, respectively. The Wilshire U.S. Large Cap Value IndexSM and the Wilshire U.S. Small Cap Value IndexSM returned 0.73% and -2.94%, respectively.
  • Total nonfarm payroll unemployment increased by 138,000 in May. The unemployment rate was little changed at 4.3%.

Wednesday, May 10, 2017

» April 2017 Monthly Market Commentary
Market Commentary, Commentary

U.S. Economy and Markets

  • Domestic equity markets were positive in April, as the Wilshire 5000 Total Market IndexSM returned 1.05% and the S&P 500 Index returned 1.03%.
  • Market volatility, measured by the CBOE Volatility Index (VIX), ended the month at 10.82, a decrease from its March close of 12.37.
  • Performance across GICS sectors was mixed for the month, with the Consumer Discretionary and Information Technology sectors leading the group, returning 2.59% and 2.48%, respectively. On the other hand, the Energy sector was the worst performing sector in April, falling -3.36%.
  • Large cap stocks outperformed their small cap counterparts this month, with the Wilshire U.S. Large Cap IndexSM and the Wilshire U.S. Small Cap IndexSM returning 1.06% and 0.98%, respectively.
  • U.S. manufacturing activity, as measured by the Institute for Supply Management’s PMI, registered 54.8% in April, down from the March reading of 57.2%. Generally, a reading above 50% indicates expansion.

Wednesday, May 3, 2017

» Investment Strategy Update, May 2017
Market Commentary, Commentary

Investment Strategy—Positioning for Relative Opportunities

Global equity markets continued to climb higher early in the first quarter of 2017, on momentum and positive sentiment in response to the surprise election of Donald Trump. The market had been pricing in optimism regarding the new administration’s ability to execute on its policy agenda of lighter regulation and looser fiscal policy. However, markets were met with resistance mid-quarter on the heels of a failed health care vote and the realization that future policy actions may be less certain. We expressed our concern in our last letter that there remains significant uncertainty regarding actual policy implementation, noting that our analysis continues to focus on the fundamentals of the macroeconomic landscape, while considering how such fundamentals may change in response to policy actions.

Friday, April 14, 2017

» First Quarter 2017 Market Commentary
Market Commentary, Commentary

The U.S. Equity Market: The U.S. stock market, represented by the Wilshire 5000 Total Market IndexSM, was up 5.61% for the first quarter of 2017. The market has been trending generally upward for more than a year now, including six straight quarterly gains. Economic releases during the quarter were strong and markets took comfort in both the Federal Reserve’s 0.25% increase in the overnight rate and its accompanying statement. Despite accelerating price increases, the Fed’s forecast for the Fed Funds rate at year-end 2017 was little changed from their December meeting.

Wednesday, March 8, 2017

» February 2017 Monthly Market Commentary
Market Commentary, Commentary

Domestic equity markets set multiple record highs in February, as the Wilshire 5000 Total Market IndexSM returned 3.72% and the S&P 500 Index returned 3.97%. Market volatility, measured by the CBOE Volatility Index (VIX), ended the month at 12.92, an increase from its January close of 11.99.

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