Effective Date:  August 5, 2024

MARKET UPDATE SUMMARY

Over the last week, several events have led to a selloff in US and international stock markets and a rally in bond markets. The S&P 500 reached an all-time high on July 16, 2024, but has since fallen 7.5%, with most losses occurring in the last three trading days. Many international markets have fared worse. During this time, interest rates have fallen and bonds have rallied, cushioning portfolios from stock market losses. At this point, we do not expect recent events to materially change the economic outlook, and it is possible markets will recover the losses and post gains in the second half of the year. Many portfolio were rebalanced on July 11, 2024, and our goal for the remainder of the year is to keep your portfolio near long-term asset allocation targets. Therefore, we are not recommending changes at this time.

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It can be difficult to maintain a long-term perspective and stay the course during volatile times like the last few days. Investors often question their portfolios when unexpected or hard-to-understand events cause volatility. However, the best approach is usually to stay the course and keep a long-term perspective. The objective of our market updates is to provide you with a unique perspective on market events and help you understand the context, making it easier to maintain your long-term approach. Contact our office with questions.

CLICK HERE to watch the Market Update video.

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