Weekly Newsletter 8/30/24
Good afternoon,
The markets and our office will be closed on Monday in observance of Labor Day. I hope your weekend is spent having fun and celebrating the fruits of your hard work. I am very thankful for the opportunity you provide as I thoroughly enjoy working for you. The past 11 years working here with Pasquale, and Letty the past 6, have spoiled me to the point where I would go kicking and screaming back to my old banking days…which weren’t that bad…certainly not the salt mines. Therefor I have a naive empathy for those less fortunate working without a feeling of purpose, or worse, when the prospect of going to work brings a sense of pure misery. I am also thankful for, what I consider to be, rational goals and a reasonable competitive spirit. I don’t long for something impossible like being the Miami Dolphins head coach or becoming a breakout hip hop star…you can laugh; however, I have acquaintances who have expressed and tried to live out these very goals as adults and it’s sad…and kinda funny. My main goal for the benefits of my labor these days is to provide my kids the same kind of life I’ve been fortunate to have and hope it can somehow be even better which I think is the essence of the still possible American dream.
The U.S. stock markets traded higher in early activity after yesterday’s mixed results with energy, financials and industrials posting solid gains. Some focus this week on better-than-expected tech earnings. Looking ahead, the state of the economy will be the story next week with the August employment report flagged as the key input in the 25 vs 50 bp rate cut debate surrounding the September FOMC meeting. The path of least resistance for the stock market still seems to be higher over the near term on a combination of soft-landing narrative traction, Fed pivot and corporate and systematic fund buying. Also, July personal income and personal spending were both ahead of estimates. However, tempered expectations are also warranted as scrutiny on fading buyback bid around mid-September, just as negative seasonality comes into play. Election uncertainty another widely discussed overhang.
The Labor Day weekend, to me, has always felt like the official end of summer. For much of the country, though not in SWFL, the weather is starting to turn and soon the leaves will too. Kids are back to school and football seasons are preparing to kick off. For you retired or empty-nesters now is the time to visit the national park you have always wanted to see. I am biased, but I suggest Yellowstone and Grand Teton National Parks.
The link below contains additional financial information and articles for your reading pleasure.
https://www.raymondjames.com/evangelista/resources
“There can be nothing in the world more beautiful than the Yosemite, the groves of the giant sequoias and redwoods, the Canyon of the Colorado, the Canyon of the Yellowstone, the Three Tetons; and our people should see to it that they are preserved for their children and their children’s children forever, with their majestic beauty all unmarred.”
Theodore Roosevelt
Thank you,
KYLE CHRISTIANSON, CFP®
Financial Advisor
Raymond James & Associates, Inc.
1421 Pine Ridge Rd, Ste 300
Naples, FL 34109
Toll Free (800) 843-2025 | Direct (239) 513-6525 | Main (239) 513-6500 | Fax (239) 596-5474
Kyle.Christianson@RaymondJames.com
Any opinions are those of Kyle Christianson and not necessarily those of RJA or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected. This is not a recommendation to purchase or sell the stocks of the companies mentioned. Past performance does not guarantee future results.