Affinity "Mark" et Minute - August 20, 2024

Affinity “Mark” et Minute – August 20, 2024

Mark-Et Minute 8/20/2024
Year to Date Market Indices as of August 20th, 2024

• Dow 40,834 (8.32%)
• S&P 5,597 (17.35%)
• NASDAQ 17,816 (18.79%)
• OIL $73.82 (3.49%)
• Barclay Bond Aggregate (1.26%)
• Gold $2,552(23.21%)

Market Moving News

Bullish reaction
In the wake of a two-week surge in market volatility, the major U.S. stock indexes recorded their strongest weekly gains of 2024. The NASDAQ surged more than 5%, the S&P 500 added 4%, and the Dow rose 3%, lifted by encouraging data on inflation, retail sales, and consumer sentiment.

Inflation moderation
A key measure of consumer price inflation slipped below 3.0% for the first time since early 2021, and a separate report on wholesale prices came in better than forecast, reinforcing expectations for an interest-rate cut next month. The Consumer Price Index in July increased 2.9% from the same month a year earlier, while the Producer Price Index rose 2.2%.

Retail rebound
Recent concerns about prospects of a recession eased as a monthly report on U.S. retail sales beat expectations. The 1.0% month-over-month sales gain in July surpassed economists’ consensus forecast for around 0.4%. Another encouraging sign came later on Thursday, when new claims for unemployment benefits fell relative to the previous week.

Sentiment comeback
An indicator that tracks U.S. consumer sentiment rose for the first time in six months. While Friday’s preliminary reading from the University of Michigan’s Consumer Sentiment Index exceeded most economists’ expectations, August’s reading of 67.8 remained far below a recent high of 79.6 in February. Consumers’ expectations of inflation over the next year remained at their lowest level since December 2020.

https://www.marketwatch.com/ (Market Indices)
https://www.jhinvestments.com/weekly-market-recap#market-moving-news
https://www.jpmorgan.com/insights/markets/top-market-takeaways/tmt-july-twenty-two-twenty-four-daily
https://www.jhinvestments.com/weekly-market-recap#market-moving-news
https://www.blackrock.com/us/financial-professionals/insights/student-of-the-market

The views presented are not intended to be relied on as a forecast, research or investment advice and are the opinions of the sources cited and are subject to change based on subsequent developments. They are not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investments.

About the Author: Mark Roberts

In addition to managing clients’ money and giving investment and diversification advice, Mark offers something that “the other guys” don’t - a unique approach to Retirement Tax Strategies and distribution. Time and time again, Mark meets with new clients who tell him they have a great relationship with their financial advisor but have never been offered information on this kind of approach to securing their financial futures. Mark has taken this feedback to heart and works tirelessly to ensure that his strategies focus on taxes and distribution. Mark started selling insurance for a major insurance company right out of high school to help put himself through college. After graduating with a degree in finance, he dove into estate planning on the financial side to set himself apart from other financial advisors. However, as changes were made to estate tax laws over time, Mark shifted his focus to income tax strategies. Mark’s philosophy is “the blue prints are more important than the wall paper or carpet.” The wall paper and carpet represent products like investments and insurance policies, whereas the blue prints represent the strategies. Once strategies that truly fit the client’s needs are put in place, our focus can shift to providing you with the right products. According to Mark, “It doesn’t matter what carpet we use if the walls are not in the right place.” Our approach to money management is designed to generate the largest alpha (quality) with the lowest standard deviation and beta (risk). By doing this, we help provide clients with the highest return on the lowest risk. Generating income for our retirees is also very important. Because withdrawing money from your portfolio hurts the account rather than helping it, our goal is to design income strategies to harm the portfolio the least making the money last longer.

Affinity “Mark” et Minute – August 20, 2024

Affinity “Mark” et Minute – August 20, 2024

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About the Author: Mark Roberts