Calendar IconJuly 2024

July 2024 Newsletter

It is hard to believe the summer and year are halfway over. July’s newsletter includes a market recap of the first half of the year, index performance, and an invitation to a Mid-Year Outlook with Sanctuary Wealth’s CIO, Mary Ann Bartels.

We envision a choppier 2nd half of the year, but still upward trending and bullish. The main drivers remain intact and while economic waters are muddy, fundamental earnings growth is shining brightly. Our bullish thesis is driven by 5 main themes:

1. Earnings expansion, and potentially margin expansion;
2. The strength of the Presidential Election Cycle & the technical strength of the bull run;
3. AI is still in early innings and likely continues to drive growth;
4. The Fed moving from hold to cut at some point in 2024 or early 2025; and
5. The consumer is bending, but not breaking.

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SMALL BUSINESS SOLUTIONS: For small business owners looking to provide retirement benefits to their employees, Secure Act 2.0 significantly increases the available tax credits—including some that could cover the costs of operating/administering a retirement plan for up to three years.

Data as of close 6/30/24. Data obtained from Bloomberg, LP
Returns Listed Are Price Returns. Does not include reinvestment or payment of dividends.