Welcome to our July 2024 Market Update!
Hopefully this update finds you beating the heat of summer!
On that note, the markets have not cooled off as U.S. stocks rose about 3-1/2% in June.1
Most of the time we usually keep the analysis broad, but something a little more specific in this market is worth bringing in attention to. The NASDAQ, largely reflecting growth companies continued its outperformance rising 6% in June.1 I feel this may continue in the mid-term.
July is typically a busy time for corporate earnings and as reports come in throughout this month, in my opinion we’re going to see technology and growth stocks making large profits.
Interest rates, as evidenced in the U.S. 10-year treasury came in slightly to 4.4%. I would expect them to at least stay steady if not move lower over the next year.
So these two points: large growth companies making large amounts of money and a potential decline in interest rates lead me to maintaining portfolio exposures here. When applicable, we’re tilting towards growth and also hoping to take advantage of a potential interest rate decline in longer-term, high quality bonds.
Lastly, I feel we saw a little uncertainty after the presidential debate and I would expect that to continue. If volatility does increase, then we may see it reflect through different investment markets. Most of this year has been a steady rise higher, so it may be something to prepare for.
Please enjoy your summer and let me know of any questions or feedback!
Thank you!
Successfully,
Tim Truebenbach, CFP®
Senior Vice President – Financial Advisor
Disclaimers and Sources
1 Source: Thomson ONE Reuters, 7/11/2024
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.
The NASDAQ Composite Index measures all NASDAQ domestic and non-U.S. based common stocks listed on The NASDAQ Stock Market. The market value, the last sale price multiplied by total shares outstanding, is calculated throughout the trading day, and is related to the total value of the Index.
LPL Tracing #602782
Disclaimers and Sources
1 Source: Thomson ONE Reuters, 7/11/2024
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.
The NASDAQ Composite Index measures all NASDAQ domestic and non-U.S. based common stocks listed on The NASDAQ Stock Market. The market value, the last sale price multiplied by total shares outstanding, is calculated throughout the trading day, and is related to the total value of the Index.