From the desks of Stanley Katz & Lauren Madera
“YOU CAN’T BUY HAPPINESS, BUT YOU CAN BUY ICE CREAM, AND THAT’S PRETTY MUCH THE SAME THING.” HAPPY NATIONAL ICE CREAM DAY!
The three major U.S. stock market indices posted mixed results this week (i.e., DJIA: -0.07%, S&P 500: +0.59%, Nasdaq: +1.51%). Technology stocks once again led the charge while traditional value names lagged. The modest gains mask significant uncertainty brewing beneath the surface as Federal Reserve leadership transitions loom large. Capital Group notes that we may be witnessing the early stages of a fundamental shift in key monetary policy personnel. Jerome Powell’s current role as Fed chair is set to expire in May 2026 yet the White House has already started weighing replacements. Although the current Fed board sets monetary policy today, early succession planning may influence market expectations well before any actual changes occur.
BlackRock’s Student of the Market analysis highlights interesting data-driven insights relevant to 2H 2026. For example, the relationship between U.S. dollar strength and international stock performance has continued its decades-long dance. With current dollar weakness providing a tailwind for foreign investments, international markets still lead performance tables year-to-date. Notably, U.S. stocks delivered the best May-June performance since 1950. Despite current lofty price-to-earnings ratios, history suggests that expensive markets don’t necessarily predict poor near-term performance. However, the flip side also holds true: when valuations have been genuinely cheap, patient investors have been handsomely rewarded. If only “buy low, sell high” were easy to implement in practice!
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.
Capital Group:
BlackRock:
Northern Trust:
Argus:
J.P. Morgan Asset Management:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
Source for weekly stock market returns: Barron’s.
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