Monthly Market Update | October, 2024

🎙️Get the scoop on the latest news from the financial markets in our October Market Update with Leisl Langevin, CFP® CDFA®.

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Transcript

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Welcome to the monthly market update on you and your money. Here's Lysol Langevin, senior vice president and financial advisor at WHZ Strategic Wealth Advisors. So markets ended the third quarter, Gary, at record highs, and this was due to. We had inflation numbers cooling, and economic data has actually been pretty good, despite what some of the headlines may suggest. And so with that inflation cooling, we did get that rate cut that we were hoping for in September. And so that that'll have having us think that this will give us a soft landing that we were all expecting. Also we do have some concerns over geopolitical escalation and conflicts. So in Ukraine and Russia, and also with Iran and Israel, most recently last night. So that those are. We're watching those closely also with the presidential election as well. That's something that we're watching. I know Jim was on last month talking about that there's an election. Yeah, someone should talk about that. All right. And so with Jim's segment last month, he was going through all the different policies of the two candidates, and that, I know can be really helpful. But one really key takeaway from that is that the markets have grown despite which candidate or party gets in office. Theres been ten years of growth following that in ten out of the ten last election. So really positive news there. Regardless of who's elected. I will say so. Since the start of the year, the s and P has now posted its strongest year to date performance in the 21st century on a year to date basis. So s and P has gained 21 and a half percent. The Dow up just under 14%, Nasdaq up 21%, and bonds have hovered between four and 8%. Great recovery on the bond side. So what does that mean? Well with the economic fundamentals looking pretty strong. We feel good about future positive returns. But of course, the risks I mentioned, those are things that we're definitely keeping an eye on at Whz. But what do we always say? Keep a diversified strategy and don't let these short term volatility in the markets impact your longer term performance and what you set out to For more information regarding wealth management and customized financial planning with WHZ strategic wealth advisors, please visit whz wealth.com. wHZ 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, Pomfrethe Center, Connecticut 06259 and three nine two a Marrow Road, Tolland, Connecticut 06084. They can be reached at 860-928-2341 WHz 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.