Monthly Market Update | April, 2024

💥 After a strong Q1, we dive into the economic drivers behind continued growth, from low unemployment and consumer spending to moderating inflation.

What does that mean for you and your money? Find out in this quick update from Holly Wanegar, CFP®. 🎙️ 

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Welcome to the Monthly Market Update on You and Your Money. Empowering you to Plan Well, Invest Well and Live Well. Joining us today is Holly Wanegar, associate vice president and wealth advisor at Weiss, Hale and Zahansky Strategic Wealth Advisors. How about a market update? What's going on, Holly? Absolutely. We finished the first quarter of the year strong. On the economic side, the main drivers of continued growth were the following. Low unemployment. Consumers are spending. However, there are some concerns over the household savings rate as consumers make up two thirds of our GDP. Moderating inflation, which likely means rate cuts as anticipated this year and companies continue to hit earnings numbers on the markets. We're seeing strong performance numbers and most indices are up with the exception of bonds. As of March 31st, the S&P is up 10.5%, the Nasdaq 9.3, the Dow 6.1, and the AG is down 0.8%. With all of this, though, there are risks that still remain that we continue to monitor, such as inflation. If it doesn't continue to moderate, then that could force interest rates, interest rate cuts, not to happen as anticipated this year. And this could create volatility in the markets and potential supply chain issues, both, overseas and domestically as well as geopolitical risks. And, there's a presidential election coming up this year, not sure if you heard about that. I did hear something about that. Yeah. but what does this mean for investors? We encourage investors to remember that we have seen and weathered similar storms in the past. Presidential elections happen every four years. We've managed through high interest rates and inflation before. So don't let these headlines steer you away from maintaining your long term, diversified strategy that supports your ability to achieve your financial goals. As always, thanks for listening to You and Your Money. Find even more episodes, videos and other resources at our website whzwealth.com. 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 financial services team strive to support clients in achieving their financial life goals. For more information regarding wealth management, customized financial planning with Weiss, Hale and Zahansky Strategic Wealth Advisors, please visit www.whzwealth.com.