JULY 2023

Our first article details updated investment perspectives. We examine the plausibility of avoiding a recession this year, what happens to the bond market now that the debt-ceiling saga ended, and what's expected to weigh on the stock market this month. Give us a call if you have any questions or would like to discuss this further.

Retirement is an increasingly stressful topic for millions of Americans as inflation sweeps the nation and the fate of Social Security remains in flux. According to a Gallup survey released in May, not having enough money for retirement was reported as the "most troubling" financial risk for Americans. However, there is one age group that is remarkably more optimistic about retirement than the rest of the nation: Gen Z. Our second article discusses why this group has developed this optimism.

Our team is honored to announce the recognition by AdvisorHub in the category of 100 Advisors To Watch Over $1Billion. The award recognizes the growth of our team while maintaining the same level of services to our clients. Read more about the criteria for this recognition and to see the complete list. 

This month's "What's Happening Now" section shares stories on interesting new mansion listings, why fewer Americans are living paycheck to paycheck, and the best and worst states to retire rich in.

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. 

June Investment Perspectives

We examine the plausibility of avoiding a recession this year, what happens to the bond market now that the debt-ceiling saga ended, and what's expected to weigh on the stock market this month.

Gen Z Is More Confident About Retirement Than Boomers, Except When It Comes to One Thing

Retirement is an increasingly stressful topic for millions of Americans as inflation sweeps the nation and the fate of Social Security remains in flux. According to a Gallup survey released in May, not having enough money for retirement was reported as the "most troubling" financial risk for Americans.

What's Happening Now

Tinder’s Cofounder Lists

$32 Million Mansion, and

More Real Estate News

Amid falling inflation, signs show fewer Americans are living paycheck to paycheck

Best and Worst U.S. Cities

To Retire Rich

Market Update

Wall Street proved resilient during the second quarter of the year, despite rising inflation, two interest rate hikes, and concerns about the debt ceiling. The economy remained relatively strong, despite predictions that it may be headed toward a recession. The second quarter saw information technology, communication services, and consumer discretionary account for most of the market gains. Energy, utilities, health care, financials, and consumer staples slid lower. The market's positive performance during the second quarter was buoyed by strength in the labor market, economic data that may be showing inflation is beginning to wane, and a better-than-expected first-quarter gross domestic product.

June was a strong month for stocks, with each of the benchmark indexes listed here posting gains of between 4.6% and 8.0%. Inflationary pressures showed signs of cooling, with the 12-month PCE price index coming in at 3.8%. The Consumer Price Index rose 4.0% for the year, the smallest 12-month increase since the comparable period ended March 2021. The Federal Reserve elected not to increase interest rates in June, opting, instead, to step back and assess additional information and its implications for monetary policy. Gross domestic product advanced at a stronger-than-expected 2.0% for the first quarter, showing resilience in the economy. Despite the collapse of several major U.S. banks, the Federal Reserve indicated that the largest domestic banks are sufficiently positioned to continue lending to households and businesses even during a severe recession. The labor market picked up the pace, adding nearly 340,000 new jobs, in line with the average monthly gain over the past 12 months. Industrial production declined minimally, following two consecutive monthly increases. While manufacturing slowed, business activity in the services sector expanded at the fastest rate since April 2022. Long-term bond yields increased in June from May, as bond prices dipped lower. Market commentary prepared by Broadridge Advisor Solutions Copyright 2023.