Monthly Market Update | May, 2024

🚀 Recent data shows that GDP growth is slowing, but inflation remains constant...

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

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Transcript

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Welcome to the market update on you and your money. Today's episode features Liza Langevin, senior vice president and financial advisor at Weisshale and Zahansky Strategic Wealth but at the start of the year, investors, we're expecting gradual declines in GDP growth and inflation. And more recent data is showing that that's slowing. But inflation is remaining constant. And so that growth is supported by strong. We have strong jobs. We have, unemployment is very low, so that means consumers are going to spend. So that's going to be some trouble. But the Fed yesterday on the Wall Street Journal suggested they can stomach keeping those rates higher for longer. And with that said so, since we were last on, the markets have given up some gains. But s and P is still up almost seven and a half percent, the dow up just about 2%, Nasdaq up about six, and bonds are down on a year to date basis. But we've been taking this into consideration. We've known that rates are probably going to stay higher for longer. We may see still some rate cuts later this year, but those have been adjusted. But in volatile times, people like to go to cash and we would always say, stick with your investment strategy. Markets have outperformed cash on a one, three and five year. And it's so interesting to the beginning of the year, we were all so optimistic that this was going to be the year for pulling back the rates, but so far, we're still waiting. Yeah. So we'll keep an eye on that. That's it for this month's market update. For more information regarding wealth management and customized financial planning with Weisshale and Zahansky Strategic wealth Advisors, please visit w hz wealth.com. Weisshale 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 Street, Pomfret Center, Connecticut 06259 and 392 a merrill road, Tallinn, Connecticut 06084. They 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 strives to support clients in achieving their financial life goals while providing absolute confidence and unwavering partnership for life.