In my last blog post, the topic of discussion was the bumpy ride markets took in August but how historical data indicated a potentially strong finish to the year. Indeed, August was tough, but September was even worse. As a result, many investors have growing concerns about the current state of the markets—a normal reaction, to be sure.
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Market Thoughts for October 2023 [Video]
U.S. indices were down for the second consecutive month, with the Nasdaq doing the worst. International markets pulled back, and fixed income was also down. That said, job growth remained healthy, consumer confidence and spending grew, and business investment came in strong.
Economic Release Snapshot: Personal Income and Spending Grow in August
Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.
What Mattered This Week? The Real Economy
Last week was all about financial factors, primarily interest rates. But this week was all about the real economy, notably the United Auto Workers (UAW) strike and the pending government shutdown. Indeed, worries about a recession rose on those two risks. And while interest rates ticked up a bit, it was much less than last week and generally within a range. The same applies to financial markets as well.
Considering the Consequences of a Government Shutdown
We are getting close to the decision point on whether large parts of the government will shut down again because Congress has not passed a budget. While the Senate has come up with a plan, the House has not even been able to start considering one, which means the government will lack funding and will largely shut down, as of October 1. Given the dysfunction in Washington DC, at this point that shutdown looks likely, which means we must think through the consequences.
Economic Release Snapshot: Housing Sales Slump in August
Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.
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Ashley has been working in the customer service field since she started her first job at age 16. For the past ten years she worked in an office setting handling accounts payable and receivable as well as some receptionist work. She is very excited to learn more about the investment field.
Alec joined Riverstone after starting out his post college career on the operations side of an international logistics company working as an account executive. Graduating with a BA in Economics from the University of Illinois at Urbana-Champaign, he quickly developed a strong interest in the financial world. A lifetime resident of the Chicagoland area, Alec is an avid fan of his hometown sports teams. He is also an enthusiast of outdoor activities like fishing, camping, and hiking whenever possible.
Riley has enjoyed working in the financial services industry for the last 7 years. Originally starting in the industry as an assistant, then a registered branch operations manager, and now as a wealth advisor assistant. He has been through numerous business changes and understands the impact that clarity and honest advice can have for clients. Riley enjoys getting to know clients and hearing their stories. He enjoys the financial planning process and the impact that sound financial decisions can have on one’s life. He also understands the importance of those who choose to entrust him to be a steward of their financial resources and does not take the responsibility lightly.
Carol has a wide variety of experiences and has worked mainly with not-for-profit organizations. She spent 20 years in fundraising and 15 years teaching in the Illinois school system while she raised her younger children. Carol lives in Sugar Grove with her husband, Ron, and their Golden Retriever, Charley. She has four children and two grandchildren. When she’s not working, Carol enjoys spending time with friends and family, running, fishing, bible study, and watching her grandchildren play sports.
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