Fall is in full swing, and as Thanksgiving approaches, we want to take a moment to say how truly thankful we are for you – our valued clients. Your trust and partnership mean the world to us, and we are grateful to be part of your financial journey.
This past month we navigated the ongoing government shutdown and policy debates in Washington. Despite the noise, markets have remained resilient – bolstered by moderating inflation data and the Federal Reserve’s continued balancing act with interest rates.
Looking ahead, we remain cautiously optimistic. The economy is showing resilience, corporate earnings are holding up, and the holiday season often brings a bit of positive momentum. Nevertheless, we are keeping a close eye on the typical challenges – politics, interest rates, and global uncertainty.
As we head into this season of gratitude, we want to thank you again for your continued trust and support. Wishing you and your family a warm and happy Thanksgiving.
As always, if there is anything you would like to discuss, please reach out, we’d love to hear from you!
"With the S&P 500 Index near record highs, have we moved past the peak dominance for the Magnificent Seven ('Mag 7') group of stocks? It appears so, and it represents a healthy move away from the extreme concentration that raised concerns about risks to investor portfolios. After three years of the Mag 7 accounting for a majority of the S&P 500's annual return, more companies are now contributing; by September 30, non-Mag 7 stocks represented 59% of this year's return."
"We hold a balanced, moderately positive view of U.S. equities, and we expect continued economic expansion for now. Dovish monetary policy, fiscal spending and outsized technology-driven capital investment provide key support for equities, in our view. That said, prudence still requires a balanced stance towards U.S. equities, as Artificial Intelligence (AI) investment enthusiasm has contributed to elevated equity valuation levels, especially for key beneficiaries of the AI boom. Other risks worth monitoring closely include any resurgence in tariff and trade uncertainty, or any evidence that the labor market is significantly weakening. As such, we continue to favor exposure to dividend paying equities and quality growth companies, while emphasizing the technology and financial sectors."
"There’s tremendous satisfaction to be found in supporting causes that are meaningful to you. Translating your hard work into good works lends purpose to your efforts and meaning to your life. And when the support you provide is financial, there are tangible benefits in the form of tax and estate planning mitigation."
