1st quarter stock market update 2023

Happy new year to all,

I thought I would take a few moments to address the continued stock and bond market volatility in the month of February.

We have been conducting our 1st quarter reviews from last year's performance. At the end of the day, our clients, although down last year, are realizing they fared much better than the overall stock and bond markets.

As we move into this year, it's still all about the Federal Reserve and the pace of their interest rate hikes. It's simply creating havoc in all markets. February has taken all of the investment gains back from January. We need to get past the summer and the Fed rate hikes may be done at that point, especially if the economy does enter a slowdown, recession.

Let me be clear, the Fed rate hikes are affecting Stocks, Bonds, Gold, and Silver. All asset classes. They are concerned about controlling and bringing down inflation. The 2nd half of this year could be much kinder to us. We shall see.

Please remember we are here for you all and are presently working through seeing all of wonderful clients either via Zoom, in person or on the phone for reviews.

Stay well and let's look forward to the beautiful Spring weather, which may lift all of our spirits.

Frank Cangelosi
Wealth Manager and Financial Advisor

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.
Economic forecasts set forth may not develop as predicted and there can be no guarantee that strategies promoted will be successful.