April was off the charts with the S&P 500 up over 10% for the month. What a comeback! The US Aggregate Bond Index was fairly sideways, so April ended up being quite an outstanding month even for the more conservative portfolios, which put us at all-time highs again.
The Federal Reserve kept interest rates steady at their last meeting, which was not unexpected. It will be interesting to watch the June meeting when a new chairman heads the table. The stock and bond markets love low interest rates, but from what I can read from prediction markets, not many are expecting lower rates soon even with a new Fed chair. However, a surprise rate cut would be welcome news to the markets.
There doesn’t seem much that bothers the S&P 500 for very long at this point. Granted when we are at these highs, anything newsworthy has seemed to shake investor confidence, but only for a short while. It’s a bit of a reminder that the only real thing that matters in the end is corporate earnings.
I hope you have a great Spring and May flowers bloom to your liking! Thanks for being a part of our journey here at Valley Wealth Management. You are all the best we could ever ask for.
Larry Mroczkowski
President
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. All investing involves risks, including the loss of principal.