Dear P. David,,

I want to give you an update on what has been happening over the past week.  

At Musso Retirement Advisors, we are dedicated to keeping you constantly informed on the market changes as they occur. As a retirement planning specialist for the past 28 years, I have learned this can be valuable in to better understand your portfolio and the fluctuations which occur accordingly. 

The markets hit all-time highs last week after the S&P 500 continued its winning streak to seven days, the longest since July. All 3 major indexes climbed between 1% to 2% for the week with both the S&P 500 and the Dow Jones eclipsing previous highs set 2 months ago while the Nasdaq sits just 2% below the high.  Stocks have gained nearly 6% this month as they continue to bounce back from the 5% pullback some 6 weeks ago.

While still in the early stages of earnings season, the outlook remains strong as the numbers are showing a solid start. As of Friday, third-quarter net income was expected to increase by 33% compared with the same period last year, based on those who have already reported combined with projections of those yet to release their earnings. According to FactSet this would be the highest since the bond market bust back in 2008/2009.  This sentiment continues to fuel the short-term positive outlook for the markets.

The Federal Reserve gave some indication this week it would begin reducing its bond purchases soon, which was expected. This decrease will take some liquidity out of the bond markets but should not materially change the direction of the markets, at least at this time. This action will not affect their timing of raising interest rates yet because employment levels are still too low and though inflation has creeped up, they believe it will temper by the first quarter of 2022.

                                                               Price          Week         Year-to-Date

Dow Jones Average               35,677         1.1%            16.6%

S&P 500                                4,545         1.6%            21.0%

NASDAQ                            15,090         1.3%            17.1%

Disclosure:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in this material may not develop as predicted. Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments. All information is believed to be from reliable sources; however, Advisor Resource Council makes no representation as to its completeness or accuracy.



Additional information, including management fees and expenses, is provided on our Form ADV Part 2. As with any investment strategy, there is potential for profit as well as the possibility of loss. We do not guarantee any minimum level of investment performance or the success of any portfolio or investment strategy. All investments involve risk (the amount of which may vary significantly) and investment recommendations will not always be profitable. The underlying holdings of any presented portfolio are not federally or FDIC-insured and are not deposits or obligations of, or guaranteed by, any financial institution. Past performance is not a guarantee of future results.

Investment advice offered through Musso Retirement Advisors, a DBA of Advisor Resource Council, LLC a Registered Investment Advisor.

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