|
It was another week of solid gains across markets, with the most noteworthy news coming from the Dow Jones Industrial Average, which crossed 40,000 for the first time in history. We do not often cite the Dow in our commentary, believing that the S&P 500 is a better representation of US stocks and the economy, but the crossing of 40,000 is a big deal for the index.
We experienced gains across markets last week as weaker-than-expected economic data increased the likelihood of a rate cut in the coming months. April labor and manufacturing data was disappointing relative to expectations, hinting at some slowing in the economy. The data showed 175,000 jobs added in April, compared to expectations of 240,000, and the unemployment rate ticked up 0.1% to 3.9%.
Dear Clients and Friends, We are proud to bring you the second edition of our expanded newsletter. We invite you to explore our updated tools and recent educational content. April was “Financial Literacy Month” and Rob Rickey and I were honored to be featured in two video presentations on various financial topics. We also produced several new blog posts – including one on improving your financial safety with credit freezes when necessary. It seems like every day there is a notice of a data breach somewhere in the world. It is an unfortunate fact of life that we must learn how to deal with them. Please check it out! The first few months of 2024 have brought about some new developments in financial markets, highlighted by changing expectations for interest rates. As always, challenges and opportunities exist simultaneously, and both must be considered when making investment decisions. Our included quarterly review outlines our thoughts in more detail. If you would like more frequent information, please use the link below to sign up for our weekly market updates. Thank you for your continued trust in StraightLine and please don’t hesitate to reach out with any questions.
|
