Morningstar US Market Report--First Quarter 2006

Markets picked up in the first quarter of 2006 where they left off in late 2005, posting solid gains in the face of economic uncertainty and potentially setting the stage for a fourth straight year of equity gains following the brutal bear market of 2000 through 2002.

John Coumarianos 19 April, 2006 | 12:23AM
All Morningstar diversified equity indexes ended the quarter on a positive note, as small caps led the way in what is now an all-too-familiar pattern. Those anticipating a rotation to large caps will have to wait a little longer, since investors apparently haven’t quite lost their affinity for smaller stocks. The Morningstar US Market Index rose 5.2%.

The market weathered additional debt downgrades and intensified solvency questions for embattled automaker General Motors, continued weakness in newspaper and traditional media stocks, such as New York Times and Time Warner, and even weakness in online search-engine Google, whose meteoric rise had previously been cited as the proximate cause of traditional media’s recent swoon. Additionally, weakness in the newspaper industry encoura

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John Coumarianos  John Coumarianos is a fund analyst with Morningstar and editor of Morningstar's American Fund Family Report, a monthly newsletter that offers independent, no-holds-barred guidance on the pros and cons of this dominant fund family. He welcomes e-mail but cannot give investment advice. Click here for a free issue of the American Fund Family Report.

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