Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. References to specific companies or securities are for illustrative purposes only and should not be interpreted as a recommendation to buy, sell, or hold any security.
Winthrop Wealth is a registered investment adviser. Registration as an investment adviser does not imply a certain level of skill or training. This material is not intended as an offer or solicitation to buy or sell any security or investment strategy and should not be relied upon as individualized investment, legal, tax, or accounting advice.
Economic and market forecasts presented in this material may not develop as predicted, and there can be no guarantee that any strategy discussed will be successful. Statements regarding market conditions, economic trends, Federal Reserve policy, interest rates, inflation, geopolitical events, artificial intelligence, public offerings, and portfolio positioning reflect current views as of the date indicated and are subject to change without notice. Forward-looking statements are based on assumptions and expectations that may not be realized, and actual results may differ materially from those expressed or implied.
Information and data presented are believed to be reliable, but Winthrop Wealth does not guarantee the accuracy, timeliness, or completeness of third-party information. Market data, index returns, yields, forecasts, and other figures are as of the dates indicated and are subject to change without notice.
All indexes mentioned are unmanaged indexes which cannot be invested into directly. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment. Past performance is no guarantee of future results.
All investing involves risk, including the possible loss of principal.
INDEX DEFINITIONS / GLOSSARY
U.S. Equity Indexes.
S&P 500 Index: A capitalization-weighted index of 500 large-cap U.S. companies designed to measure broad U.S. equity market performance.
Russell 3000 Index: Measures the performance of the broad U.S. equity market and includes approximately 3,000 of the largest U.S. companies.
Dow Jones Industrial Average: A price-weighted index of 30 large, publicly traded U.S. companies.
Nasdaq Composite Index: Measures the performance of common equities listed on the Nasdaq Stock Market and is often used as a measure of growth-oriented and technology-related companies.
S&P MidCap 400 Index: Measures the performance of mid-sized U.S. companies.
Russell 2000 Index: Measures the performance of the small-cap segment of the U.S. equity universe.
Russell 1000 Growth Index: Measures the performance of large-cap U.S. companies with growth characteristics.
Russell 1000 Value Index: Measures the performance of large-cap U.S. companies with value characteristics.
Magnificent 7 / S&P 493: References to the Magnificent 7 generally refer to Alphabet, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA, and Tesla. The S&P 493 refers to the companies in the S&P 500 Index excluding the Magnificent 7. These groupings are not separately investable indexes and may be calculated differently by different data providers.
MSCI Indexes.
MSCI EAFE Index: Designed to measure developed-market equity performance outside the United States and Canada.
MSCI Europe Index: Designed to measure equity market performance across developed markets in Europe.
MSCI Japan Index: Designed to measure large- and mid-cap equity performance in Japan.
MSCI China Index: Designed to measure large- and mid-cap equity performance in China.
MSCI ACWI Index: Captures large- and mid-cap equity performance across developed and emerging markets globally.
MSCI ACWI ex USA Index: Captures large- and mid-cap equity performance across developed and emerging markets outside the United States.
Bloomberg Fixed Income Indexes.
Bloomberg U.S. Aggregate Bond Index: A broad-based benchmark that measures the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market.
Bloomberg Treasury Bill Indexes: Generally measure the performance of short-term U.S. Treasury bills.
Bloomberg U.S. Corporate Bond Indexes: Generally measure the performance of investment-grade corporate bonds.
Bloomberg Securitized Indexes: Generally measure sectors of the securitized bond market, including mortgage-backed securities, asset-backed securities, and commercial mortgage-backed securities.
Bloomberg High Yield Indexes: Generally measure the performance of below-investment-grade corporate bonds.
Bloomberg Municipal Bond Indexes: Generally measure the performance of the U.S. tax-exempt municipal bond market.
U.S. Equity Sectors:
U.S. equity sector references generally correspond to the sectors used to classify companies within broad U.S. equity indexes, including Information Technology, Real Estate, Industrials, Energy, Consumer Discretionary, Communication Services, Consume
MSCI Emerging Markets Index: Designed to measure large- and mid-cap equity performance across emerging market countries.
< COMMENTARY
Market Commentary | October 01, 2026
Q3 2026 Market Review and Outlook | Winthrop Wealth
By Andrew Murphy, CFA
Co-Chief Investment Officer
The S&P 500 increased by +2.3% in the third quarter, bringing the year-to-date return to +12.7%.
Print/Download
DISCLOSURES
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. References to specific companies or securities are for illustrative purposes only and should not be interpreted as a recommendation to buy, sell, or hold any security.
Winthrop Wealth is a registered investment adviser. Registration as an investment adviser does not imply a certain level of skill or training. This material is not intended as an offer or solicitation to buy or sell any security or investment strategy and should not be relied upon as individualized investment, legal, tax, or accounting advice.
Economic and market forecasts presented in this material may not develop as predicted, and there can be no guarantee that any strategy discussed will be successful. Statements regarding market conditions, economic trends, Federal Reserve policy, interest rates, inflation, geopolitical events, artificial intelligence, public offerings, and portfolio positioning reflect current views as of the date indicated and are subject to change without notice. Forward-looking statements are based on assumptions and expectations that may not be realized, and actual results may differ materially from those expressed or implied.
Information and data presented are believed to be reliable, but Winthrop Wealth does not guarantee the accuracy, timeliness, or completeness of third-party information. Market data, index returns, yields, forecasts, and other figures are as of the dates indicated and are subject to change without notice.
All indexes mentioned are unmanaged indexes which cannot be invested into directly. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment. Past performance is no guarantee of future results.
All investing involves risk, including the possible loss of principal.
INDEX DEFINITIONS / GLOSSARY
U.S. Equity Indexes.
S&P 500 Index: A capitalization-weighted index of 500 large-cap U.S. companies designed to measure broad U.S. equity market performance.
Russell 3000 Index: Measures the performance of the broad U.S. equity market and includes approximately 3,000 of the largest U.S. companies.
Dow Jones Industrial Average: A price-weighted index of 30 large, publicly traded U.S. companies.
Nasdaq Composite Index: Measures the performance of common equities listed on the Nasdaq Stock Market and is often used as a measure of growth-oriented and technology-related companies.
S&P MidCap 400 Index: Measures the performance of mid-sized U.S. companies.
Russell 2000 Index: Measures the performance of the small-cap segment of the U.S. equity universe.
Russell 1000 Growth Index: Measures the performance of large-cap U.S. companies with growth characteristics.
Russell 1000 Value Index: Measures the performance of large-cap U.S. companies with value characteristics.
Magnificent 7 / S&P 493: References to the Magnificent 7 generally refer to Alphabet, Amazon, Apple, Meta Platforms, Microsoft, NVIDIA, and Tesla. The S&P 493 refers to the companies in the S&P 500 Index excluding the Magnificent 7. These groupings are not separately investable indexes and may be calculated differently by different data providers.
MSCI Indexes.
MSCI EAFE Index: Designed to measure developed-market equity performance outside the United States and Canada.
MSCI Europe Index: Designed to measure equity market performance across developed markets in Europe.
MSCI Japan Index: Designed to measure large- and mid-cap equity performance in Japan.
MSCI China Index: Designed to measure large- and mid-cap equity performance in China.
MSCI ACWI Index: Captures large- and mid-cap equity performance across developed and emerging markets globally.
MSCI ACWI ex USA Index: Captures large- and mid-cap equity performance across developed and emerging markets outside the United States.
Bloomberg Fixed Income Indexes.
Bloomberg U.S. Aggregate Bond Index: A broad-based benchmark that measures the investment-grade, U.S. dollar-denominated, fixed-rate taxable bond market.
Bloomberg Treasury Bill Indexes: Generally measure the performance of short-term U.S. Treasury bills.
Bloomberg U.S. Corporate Bond Indexes: Generally measure the performance of investment-grade corporate bonds.
Bloomberg Securitized Indexes: Generally measure sectors of the securitized bond market, including mortgage-backed securities, asset-backed securities, and commercial mortgage-backed securities.
Bloomberg High Yield Indexes: Generally measure the performance of below-investment-grade corporate bonds.
Bloomberg Municipal Bond Indexes: Generally measure the performance of the U.S. tax-exempt municipal bond market.
U.S. Equity Sectors:
U.S. equity sector references generally correspond to the sectors used to classify companies within broad U.S. equity indexes, including Information Technology, Real Estate, Industrials, Energy, Consumer Discretionary, Communication Services, Consume
MSCI Emerging Markets Index: Designed to measure large- and mid-cap equity performance across emerging market countries.