Fact Sheets
2026
2026
Economic conditions in the fourth quarter remained broadly constructive, even as growth moderated from the very strong 4.3% pace recorded in the third quarter. U.S. economic activity continued to expand, consumer spending remained resilient, and inflation pressures eased. Although job growth slowed from earlier periods, unemployment remained relatively low and weekly jobless claims were contained. The Federal Reserve cut rates for the third consecutive month in December, by 25 basis points, but signaled a more mixed outlook for future cuts.
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2026
2026
U.S. equity markets closed December on a mixed and choppy note, as strong year-to-date gains gave way to profit-taking and thin holiday trading. Investor sentiment during the month was shaped by expectations for Federal Reserve rate cuts in 2026 and ongoing sector rotation following a powerful multi-year rally in 2023, 2024 and 2025. While short-term market volatility picked up late in the month, the broader backdrop remained constructive, supported by resilient corporate earnings and economic data overall, moderating inflation, and optimism that continued easing of monetary policy could help extend the economic expansion into 2026.
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2025
2025
It was a month of two distinctly different chapters for equities. Stocks declined steadily through the first 20 days of November, only to stage a swift late month rebound that pulled the major indexes back to flat or slightly positive territory. November also saw a meaningful correction in many previously high-flying momentum stocks, including lofty-valuation stocks related to artificial intelligence (AI), quantum computing, cryptocurrencies, data cloud, alternative energy, and others.
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2025
2025
In our previous communication, we highlighted that short-term volatility and periods of relative underperformance have occurred from time to time over the 29-year history of the Small/Mid Cap Growth Portfolio at Pinnacle. We also discussed and showed how each such period has always been followed by a strong performance recovery.
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2025
2025
U.S. equities delivered another strong monthly gain in October, extending the market’s impressive recovery from the “Liberation Day” selloff in April. Strength in corporate profits, softer inflation data, a widely anticipated 25-basis-point Fed rate cut, improving global trade dynamics, and renewed leadership from U.S. technology stocks all helped propel the market higher.
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2025
2025
PowerFleet trades at a significant discount to IoT peers but is a compelling growth story in a rapidly growing industry. Even if it reaches one-third of comparable valuation(s), it’s a double.
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Founded in 1984, Pinnacle Associates, Ltd. is a forward thinking, multi-billion dollar investment advisory firm focused on transparency and putting clients first. We provide advice to individuals and families, institutional investors and other financial institutions.
