APRIL 2024

Virtual Events

Janney has once again invited retired FBI Special Agent Jeff Lanza to present “Is Your Data Protected? Simple Safeguards: How to Stay Safe From Identity Theft and Cybercrime.” The webinar will be held Wednesday, April 17, 2024 at 12:00 p.m. ET. You won’t want to miss this valuable program! Click here to register.



Awards and Recognitions

We are honored to share that we were recently recognized as a Forbes 2024 Best-In-State Top Wealth Advisor and a Barron’s Top 1,200 Financial Advisor! Although these are individual industry recognitions, these prestigious awards are shared by the Chornyak team. This follows the team’s recent recognition as a 2024 Forbes Best-In-State Top Wealth Management Team. A special thanks to our clients for your continued business and trust.

The Federal Reserve Open Market Committee (FOMC) left its target for interest rates unchanged at a range of 5.25% – 5.50%, their fifth unchanged decision. Both markets and Fed officials have ruled out the necessity of further tightening barring any tail risk to inflation. Even though policy rates have remained unchanged for about 9 months, the bias among policymakers has shifted toward cutting, as the math of monetary policy grows more restrictive each time inflation eases. What remains uncertain is the timing of any cuts. Whereas some participants had hinted at an immediate need, the early-2024 economic data have delayed the near-term prospects of rate cuts. In sum, they’re coming; we just don’t know when. Our first article from the Janney Investment Strategy Group details recent Fed Policy decisions and what we might expect in 2024 and 2025.

Many Gen Zers are at just the right age to start investing. And well-seasoned investor Warren Buffett, who has decades upon decades of investing prowess, knows what works best. Is what works best cutting -edge and exciting Not hardly. But if your goal is to get rich, why not take a page from one of the most successful investors of all time? Our second article warns Gen Z investors to remember this 'One Fact of Financial Life.'

This month's "What's Happening Now" section shares stories on why spending time in nature makes you a more authentic person, the 23 best places to travel in 2024, and home price growth being back at pre-pandemic levels.

We'd like to hear from you. Please feel free to contact us by phone at 614-888-2121, toll-free 877-389-2121 or email jchornyak@janney.com with any questions or comments. 

Spring Rain Delay

Federal Reserve (Fed) policymakers held overnight interest rates unchanged at 5.25% - 5.50%, but continue to maintain a cutting bias. Inflation, after decelerating quickly in 2023, has pushed higher in early-2024, delaying the start date to any Fed cutting cycle. Every “mid-course correction” in the last four decades has involved 75 bps of rate cuts, and there’s no reason to think 2024 is different. Dot plot was unchanged for 2024 but priced out one cut in 2025 signaling marginally reduced economic tail risk.

Warren Buffett Warns Gen Z Investors To Remember This ‘One Fact of Financial Life’

Many Gen Zers are at just the right age to start investing. And well-seasoned investor Warren Buffett, who has decades upon decades of investing prowess, knows what works best. Is what works best cutting-edge and exciting? Not hardly. But if your goal is to get rich, why not take a page from one of the most successful investors of all time?

What's Happening Now

Spending time in nature makes you a more authentic person

The 23 Best Places to Travel in 2024

Home price growth is back at pre-pandemic levels

Market Update

Wall Street got off to a fast start to begin 2024. Investors were encouraged by strength in the economy, the likelihood of interest rate cuts, possibly beginning in June, and opportunities in artificial intelligence. Each of the benchmark indexes listed here posted solid first-quarter gains led by the S&P 500 and the Nasdaq. Several indexes reached new highs throughout the quarter. The S&P 500 hit its first record high in two years late in January, leading to its best first-quarter performance since 2019. The Federal Reserve provided encouraging news following its meeting in March as it projected three interest rate cuts by the end of the year. Ten-year Treasury yields stayed around 4.20% for most of the quarter, up from 3.86% at the close of 2023. Roughly 76.0% of S&P 500 companies reported fourth-quarter corporate earnings that exceeded analysts' expectations. Some of the "Magnificent Seven" megacap stocks stumbled a bit in the first quarter. Nevertheless they were responsible for nearly 40.0% of the S&P 500's year-to-date gain, which is down from over 60.0% last year. Ten of the 11 market sectors posted quarterly gains, with industrials, information technology, communication services, financials, and energy climbing more than 10.0%.

Market update provided by Broadridge Investor Communications Solutions, Inc.