January was certainly not dull. There was enough headline grabbing financial and geopolitical news to fill an entire year.
If you look at the U.S. stock market, the investment environment seems placid. Large-cap indices such as the S&P 500 finished the first month of 2026 with tiny gains. This impression is illusory because the financial world is anything but calm these days.
January witnessed the continuation of a of variety newer trends established in 2025 – the most significant being a weakening dollar, a stampede into precious metals, a reassessment of cryptocurrencies, hotter commodity prices, international equity indices outperforming the U.S., and a late year momentum burst by U.S. small capitalization stocks. Checkout these January returns: WSJ $ Index -1.3%, Gold +9.0%, Silver +11.6%, Bitcoin -5.9%, Dow Jones Commodity Index +8.0%, Crude Oil +10.1%, Gasoline +10.7%, MSCI All World Equity (ex U.S) +5.4%, MSCI Emerging Market Equity +8.8%, S&P Small Cap 600 +5.5%, and S&P 500 +1.4%. This convoluted market action in early 2026 provides an excellent excuse for investors to make sure that their asset allocations remain consistent with their objectives.
Thanks to modern day telecommunications, contemporary investors are bombarded with the day-to- day stuff. There is way too much noise and distraction. To generate lasting wealth, the investment playbook must take advantage of the long game.
The views expressed here are those of the author and may not reflect those of the firm. Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Withum Wealth Management [“WWM”]), or any non-investment related content made reference to directly or indirectly in the presented material(s) will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this presentation serves as the receipt of, or as a substitute for, personalized investment advice from WWM. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her /their individual situation, he/she/they is/are encouraged to consult with the professional advisor of his/her/their choosing. WWM is neither a law firm nor a certified public accounting firm and no portion of the presented material(s) should be construed as legal, accounting or consulting advice.
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CIO Vantage Point | February 2026
January was certainly not dull. There was enough headline grabbing financial and geopolitical news to fill an entire year. If you look at the U.S. stock market, the investment environment seems placid. Large-cap indices such as the S&P 500 finished the first month of 2026 with tiny gains. This impression is illusory because the financial world is anything but calm these days. January witnessed the continuation of a of variety newer trends established in 2025 – the most significant being a weakening dollar, a stampede into precious metals, a reassessment of cryptocurrencies, hotter commodity prices, international equity indices outperforming the U.S., and a late year momentum burst by U.S. small capitalization stocks.
