From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
The major US stock market indices were marginally positive this week (i.e., DJIA: +0.59%, S&P 500: +0.62%, Nasdaq: +0.95%), stretching the gains streak to three weeks. Although both the DJIA and S&P 500 respectively hit record highs for the 32nd and 42nd time in 2024, they did so without the assistance of the Magnificent 7. In other words, US stock market performance has broadened beyond tech to other sectors like utilities, financials, healthcare, and industrials. For more on this topic click the Northern Trust link below.
Historically, the US stock market experiences a fair amount of volatility in the month of October. This year could play out similarly as we have several economic statistics due to be announced this week. With the S&P 500 currently trading at 21X 2025 projected earnings, the market appears priced to perfection. If the data indicates that the US economy is slowing too quickly, volatility may rise. Capital Group addresses these concerns in their article below titled, “Welcome to the Benjamin Button economy.”
Below are links to a number of third-party research reports that we have read and analyzed over the past week. We hope you will find the information interesting, useful, and worthwhile.
Northern Trust:
Capital Group:
J.P. Morgan Asset Management:
Schwab:
Nuveen:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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