You & Your Money

Monthly Market Update | May, 2023

May 17, 2023 Weiss, Hale & Zahansky Strategic Wealth Advisors Season 2 Episode 18
You & Your Money
Monthly Market Update | May, 2023
Show Notes Transcript

Hear what's happening in the markets and how it may affect you in our latest Monthly Market Update, featuring Leisl L. Cording, CFP®, CDFA®.

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Welcome to the monthly Market Update on You and Your Money. Empowering you to reach your goals with tips and insights to help you Plan Well, Invest Well and Live Well. I'm Jim Zahanski, principal, managing partner and chief gold strategist at Weiss, Hale and Zahansky Strategic Wealth Advisors. This month's Market Update comes from Leisl Cording senior vice president and financial advisor at Weiss, Hale and Zahansky Strategic Wealth Advisors. Take it away, Leisl. How about a market update? Financial markets. What's going on? Sure. So overall, the fundamentals of the economy are showing signs of resiliency despite the headlines that we're seeing. But we see the biggest risks right now are the Fed meeting today. So we'll see what comes of the meeting over the last two days. And the debt ceiling issue. So on the Fed, if we do expect that rates will probably increase and investors are expecting that. So if there's no increase, they'll have a positive signal for markets. If it's a higher than anticipated, that 25 basis points, then that would be bad for markets. And then on the debt ceiling issue, it'll be worked on and likely resolve over here without much conflict. But it could bring us some nervous moments in the markets over the next month or two. So those are the two biggest risks for the markets in general, though. We had a very strong March but we did see a little bit of mixed results in April, for example. Year to date, S&P is up about 9.17%, Dow up about three and a half, and Nasdaq about 17. So we've seen quite a difference across the indices. And but the news isn't that bad. It's better than we expected. And the economy is slowing, however, but it's still growing and markets are showing some signs of improvement. That's all the updates we have for now. As always, thanks for listening to You and Your Money. If you enjoy our show, find even more episodes, videos and other resources at our web site whzwealth com. Be sure to come back next week for more tips to help you live fearlessly and pursue your financial and life goals. Until then, live well. Weiss, Hale and Zahansky Strategic Wealth Advisors offer securities and advisory services through Commonwealth Financial Network member FINRA/ SIPC a registered investment advisor. Fixed insurance products and services offered through CES Insurance Agency. They practice at 697 Pomfret St, Pomfret Center, Connecticut 06259 and can be reached at 860-928-2341. Weiss, Hale and Zahansky Strategic Wealth Advisors do not provide legal or tax advice. The tenured financial services team strive to support clients in achieving their financial life goals. For more information regarding wealth management and customize financial planning with Weiss, Hale and Zahansky Strategic Wealth Advisors, please visit. www.whzwealth.com.