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Record Highs for Gold and Stocks

October 20, 2024

From the desks of Stanley Katz & Lauren Madera

STAY SAFE & HAVE FUN!

For the sixth week in a row, all three major US stock market indices posted gains (i.e., DJIA: +0.96%, S&P 500: +0.85%, Nasdaq: +0.80%) with DJIA, S&P 500 and even gold hitting record highs! It’s unusual to see stocks, US Treasury bonds, and gold appreciate in tandem. The initial 3Q2024 corporate earnings reports from last week look good and employment remains high, but the consumer is veering cautious. For more on this topic, read J.P. Morgan Asset Management’s “Where are consumers spending today?”

The future direction of corporate earnings estimates remains a mystery. Can they sustain this upward trajectory or will they, like the consumer, start slowing? That may dictate where the stock market goes from here. Nuveen elaborates more in their “Earnings season preview: revisionist history.” Click the link below.

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:

  • \Where are consumers spending today?

Nuveen:

  • Earnings season preview: revisionist history

Neuberger Berman:

  • What Is the Opposite of Confirmation Bias?

Argus:

  • Stock Market Making New Highs as Election Nears

Lord Abbett:

  • Value Stocks: Why Focus on Free Cash Flow?

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.  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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