Welcome to our April 2024 Market Update!
How are you feeling about your finances and investments now that we’ve just wrapped up the first quarter of 2024?
I’m thinking that the quarter went by very quickly! For the month of March alone, stocks appreciated just over 3%.1 I can sure say one thing, writing and talking through these updates each month has been nice and easy since that just completed five “up” months in a row!
In my opinion, it would not be at all surprising to see stocks at least pause or even pullback in price. Don’t get me wrong, I like stocks moving forward still but the recent run up has been incredible.
Interest rates have remained stubbornly high. The 10-year US Treasury, for example sits right at 4.30% as I share this.2 Are you looking to buy a house, or have you talked with anyone in the mortgage or real estate business? Personally, I’ve noticed they are quite vocal at how rates have remained elevated.
I believe rates are going to decline over the next year. Why? Federal reserve Chairman, Jerome Powell said as much in his March meeting in stating that “an interest rate cut is likely to happen within the year.”3
I’d be remiss if I didn’t bring up one other investment topic this month. Precious metals have begun to shine. We’ve hit on this asset class for over a decade now, as well as the reasons to utilize them as a part of a portfolio. Gold eclipsed the $2,200 an ounce barrier in March and has subsequently broken to new all time highs.
As many of my clients know, we’ve spent the last few months addressing how portfolios have been doing and how they’re invested. I love these discussions for the simple fact that I get to meet with you face to face, and make sure we are staying on track for what’s important about money to you…so for that, THANK YOU!
Lastly, don’t forget to RSVP for our client event that is coming up on May 8th. See ya next month!
Successfully,
Tim Truebenbach, CFP®
Senior Vice President – Financial Advisor
Disclaimers and Sources
1 Source: Thomson ONE Reuters, S&P 500, 4/4/2024
2 Source: CNBC, U.S. Treasury Yields, 3/4/2024
3 Source: Yahoo Finance, 4/3/2024, Powell’s speech, commodities on the rise
The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.
LPL Tracking # 562709