
November 2025 Market Commentary & Outlook
Market Commentary U.S. stocks had a volatile November as markets adjusted to the end of the longest government shutdown in U.S. history. Stocks initially declined,
The latest thoughts on investment strategy and the markets, plus tools and templates from Raffa’s portfolio management team to empower nonprofits and associations to make better informed investment decisions.

Market Commentary U.S. stocks had a volatile November as markets adjusted to the end of the longest government shutdown in U.S. history. Stocks initially declined,

is your investment policy ready for 2026? As you prepare for year-end and begin shaping your organization’s investment strategy for 2026, navigating shifting economic conditions,

How Federal Reserve Decisions Affect Nonprofit Investment Portfolios What Is the Federal Reserve and How Does It Affect the Economy? The Federal Reserve, established in

Market Commentary U.S. stocks extended their gains in October, supported by easing trade tensions between the U.S. and China. A reduction in tariffs between the

US stocks continued their rally in August, posting gains for the fourth consecutive month with small cap companies leading the way. Earnings reports continued to

US stocks rallied for a third consecutive month as continual progress on global trade agreements and resilient economic data fueled investor confidence during the month.

It’s said that the four most dangerous words to investors are “It’s different this time”. The current political, economic, and market environments sure feel different

The US stock market rebounded exceptionally over the second quarter, erasing the losses from the “Liberation Day” tariff announcement that sent stocks tumbling in early

US stocks rallied over the course of the month, posting their strongest monthly gain in two years. Easing trade tensions and progress on de-escalating tariffs