From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
For the fifth week in a row, all three major US stock market indices posted gains (i.e., DJIA: +1.21%, S&P 500: +1.11%, Nasdaq: +1.13%). And the S&P 500 closed at a record high! Currently, the S&P 500 trades at 23.45X trailing 12-months earnings. Of note though, Wall Street’s earnings expectations for 4Q and 2025 suggest double digit growth. Maybe beans can grow to the sky (reference Jack and the Beanstalk) and corporate earnings can continue to grow at this pace? Hopefully, the plagues, hurricanes (plural), labor strikes (plural), and the U.S. election (singular, thank goodness) won’t catch up to us! For an in-depth analysis, click the Schwab Market Perspective “After the Landing” link below.
The Magnificent 7 stocks—Apple, Microsoft, Alphabet/Google, Amazon, Nvidia, Meta Platforms/Facebook and Tesla—have driven most of the S&P 500 performance. Will the other 493 stocks in the S&P 500 catch up? AI has been the rage since entering the scene a few years ago. How can it be harnessed to benefit other industries besides tech? Read Capital Group’s “4 AI bottlenecks could bolster old economy companies.” Very thought provoking!
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:
Capital Group:
Argus:
Northern Trust:
J.P. Morgan Asset Management:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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