Rock Point Advisors is a wealth advisory firm focused on helping clients make sound financial decisions and take advantage of the benefits of long-term investing. We are dedicated to managing portfolios in the context of plans carefully developed with our clients.
Since our founding in 2004, our financial planning and investment management efforts have been guided by our fiduciary duty to our clients and our belief that doing what’s right matters. We work hard to deliver practical advice and responsible investing to help clients achieve their goals.
The resilience we observed in markets during the first three months of the year evolved into something closer to exuberance during the second quarter. The S&P 500 had its best three months since the second quarter of 2020, when large cap stocks recovered from the Covid collapse. Once again, AI stocks drove the advance. This time it was computer chip and related hardware manufacturers that exploded higher. Software and IT consulting stocks were largely abandoned by investors afraid that AI will supplant their services.
In early 2026, markets displayed surprising resilience given everything going on in the world. US stocks and most developed international markets were down 5% or less over the course of the first quarter. With alarming headlines appearing daily since conflict broke out on February 28th, we’ve heard from many clients who expected something worse. It is natural to assume markets will reflect our concerns around current events and their implications for the future.
Almost a year ago, markets were grappling with the implications of “Liberation Day.” Investors were surprised by both the scale and structure of new tariffs. Stocks initially fell about 10% as markets worried that the measures could push the U.S. economy toward recession. That outcome never materialized. Many of the tariffs were later moderated, and businesses gradually adapted through supply-chain adjustments or price increases. Corporate earnings proved stronger than expected, with continued investment in artificial intelligence infrastructure playing a significant role in supporting economic growth.
