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“The Beat Goes On”

March 24, 2024

From the desks of Stanley Katz & Lauren Madera

STAY SAFE & HAVE FUN!

This Sonny & Cher song title captures what’s been happening to the major US stock market indices. All three posted gains this week (i.e., DJIA: +1.96%, S&P 500: +2.29%, Nasdaq: +2.85%) hitting new highs. Several foreign stock market indices like South Korea’s Kospi, Europe’s Stoxx 600 and Japan’s Nikkei 225 have hit historic highs too. In concert with the US Federal Reserve Bank, other world central banks are contemplating interest rate reductions. That seems to be the theme driving global stocks upward. Historically, recessions don’t occur when the US housing market remains strong. But, as expressed in past Weekly H&Cs, the S&P 500 price-to-earnings ratio sits at 23.19X trailing 12 months-earnings and 21X forward earnings. That’s above average. Click the link below for Schwab’s Weekly Trader’s Outlook.

At this juncture, we continue to question when, not if, the Federal Reserve will start cutting interest rates. Most interest rate prognosticators predict three cuts of 25 basis points (0.25%) by year end with the first occurring in June 2024. The US stock market seems to be counting on it! Read the J.P. Morgan Asset Management epistle below for more on this topic.

For an interesting look into the future, Capital Group’s “The Long View – 4 Megatrends to watch” provides an interesting perspective for generations to come.

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.

Schwab:

  • Powell Helps Fuel Fresh Record Highs for Stocks

J.P. Morgan Asset Management:

  • When will the Federal Reserve stop cutting interest rates?

Capital Group:

  • The Long View — 4 Megatrends to watch

Argus:

  • Inflation Taps the Market on the Shoulder

Northern Trust:

  • Sit Tight

Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500

Investing involves risk, including the possible loss of principal. The information contained herein has been prepared solely for informational purposes. Nothing contained herein should be construed as a recommendation to either buy or sell any security or economic sector, or implement any strategy discussed. Please consult with your financial advisor, accountant, and/or attorney before acting on this information. ClientFirst Financial Strategies, Inc. is a DBA of OneSeven, LLC (OneSeven).  OneSeven is an investment advisor registered with the U.S. Securities and Exchange Commission (SEC).  Registration with the SEC does not imply a certain level of skill or training.  Securities offered through Fortune Financial Services, Inc. (Fortune), Member FINRA/SIPC.  OneSeven and Fortune are separate entities.  Investment Products are Not FDIC Insured, Offer No Bank Guarantee, and May Lose Value.

OneSeven and Fortune do not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third parties.

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Disclosures: OneSeven (“OneSeven”) is a registered investment adviser with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training. Services are provided under the name ClientFirst Financial Strategies (“ClientFirst”), a DBA of OneSeven. Investment products are not FDIC insured, offer no bank guarantee, and may lose value.

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