From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
The five-day workweek reverted to four days with the July 4th holiday. The US stock market indices certainly didn’t launch any fireworks with all three posting losses (i.e., DJIA: -1.75%, S&P 500: -1.14%, Nasdaq: -1.21%). Second quarter earnings announcements kick start next week. The S&P 500 is currently trading at a lofty 19.2X projected earnings, so it may be a stern test to beat the estimates. US Treasury interest rates continue to escalate with the 2-year at 4.956% and the 6-month at 5.48%. These conditions almost seem reminiscent of the dot.com era with the tech-heavy Nasdaq gaining 38.8% through mid-year. As always, J.P. Morgan Asset Management’s Dr. David Kelly presented his quarterly Economic and Market Update. In the links below, there is the sixty-page full-blown version, if you’d like to dig into the weeds. But you may find the initial ten-slide synopsis easier to digest.
Just as the stock market has hitched its wagon to the words Artificial Intelligence (aka AI), the fascination with the topic has us all wondering about the future. How will it affect the workplace? Can AI replace all jobs? No doubt, it can make us more efficient in many realms of life. How many times per day do you Google an answer to a question? Click the Goldman Sachs Top of Mind “Generative AI: Hype, or Truly Transformative?” link below for an interesting read.
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.
J.P. Morgan Asset Management:
James Investment Research:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
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