At last, election day has passed, and the markets have responded with surprising strength. We assumed the election cycle could bring some volatility, but history shows that markets are remarkably resilient, regardless of which party claims victory.
Since October 1st, the S&P 500 has experienced a mix of fluctuations, ultimately staying relatively flat, an indication of investor caution amid political and economic uncertainty. Sectors that saw recent pullbacks—such as Utilities, Energy, and Healthcare—have shown some early signs of recovery. The Federal Reserve’s 0.75 percentage point rate cut has provided a supportive backdrop, and we are beginning to see renewed investor interest, especially in sectors with strong long-term growth prospects.
In the months ahead, we will continue monitoring key economic indicators and adjusting our strategies as needed. We are here to answer your questions and provide guidance as we navigate these events together. Please don't hesitate to reach out.
As we head into the last months of 2024, your Purus Team wishes you and yours a wonderful holiday season. Be sure to check out our 3rd Annual Holiday Cookbook for some delicious dishes our team will enjoy with family and friends.
"We see the early signs of a market rotation, from a narrow set of growth leaders to a broader array of companies. While investors are not bailing on Big Tech, many are concerned about concentration risk and excessive exposure to these companies in the market-cap-weighted indexes. It makes sense."
"To paraphrase Milton Friedman: There are four ways in which you can spend money. You can spend your own money on yourself. You can spend your own money on somebody else. You can spend somebody else’s money on yourself. Finally, you can spend somebody else’s money on somebody else."
"On July 18, 2024, more than two years after releasing its proposed regulations applicable to required minimum distributions (RMDs), the IRS released its final RMD regulations. These final regulations amend the rules and regulations governing RMDs from qualified retirement plans, 401(k) plans, governmental 457(b) plans, and Individual Retirement Accounts (IRAs) to reflect changes made by the Secure Act of 2019."
"The rules and regulations governing Medicare coverage can be difficult to understand. As a result, people often-and inadvertently-make costly mistakes when they reach age 65 and become eligible for federal health insurance but choose to delay or entirely skip enrolling in the program."
