Weekly Market Review

for the week of - 04/22/2024

3 Nancy Court - Suite 1

Wappingers Falls, NY 12590

How Will the Economy React to AI?

 Hi John,

What do concerns or uncertainty about AI mean for your future and your financial strategy?

Artificial intelligence (AI) tools are already invading every aspect of our lives. Debates are ongoing about how it will infiltrate individual industries. Governments are working to understand AI and determine how to regulate something that affects much more than the digital space. Its potential uses are being realized everywhere, from musicians turning 50-year-old demo recordings into fully realized hit singles to firms analyzing data to increase productivity, maximize security, and even develop new medicines. The potential for AI is a fast-moving beast, with new tools emerging so quickly that they sometimes make existing ones obsolete just months after they become available.



It has certainly made many people nervous. An online educator surveyed 800 executives about their futures with AI. Almost half of the respondents...Read more here

1.  Stocks Retreat - Markets began the week rattled by further escalation in the Middle East over the weekend. A bit of good news punctuated an otherwise sour Monday, as a stronger-than-expected retail sales report showed consumers were spending despite rising inflation.^1,2

On Tuesday, remarks from Fed Chair Jerome Powell indicated a shift in thinking—from being confident to not-so-confident about interest rate cuts in 2024. He said rates might need to stay higher until the Fed meets their 2% inflation target.^3,4

On Friday, the markets saw further declines, but investors were somewhat reassured by the perception that Thursday's retaliatory actions in the Middle East were restricted in scope.⁵

2. Silver Linings - When stocks are in a downtrend, it’s important to keep perspective and realize that markets move in cycles. Here are a couple of bright spots from last week and perhaps some good news that may influence trading in the week ahead:

• While Chair Powell said last week that the Fed may keep rates higher for longer, he also said the Fed does not intend to raise rates for now.

• Despite inflation concerns, individuals were in a spending mood in March. Retail sales increased 0.7% for the month, more than twice the consensus forecast.



• “Earning season” picks up during the next four weeks. For the week ending April 26, more than 800 companies will give updates on business conditions in Q1.⁶



This Week

Key Economic Data

Tuesday: PMI Composite. New Home Sales.

Wednesday: EIA Petroleum Status Report. Durable Goods. Survey of Business Uncertainty.

Thursday: Gross Domestic Product (GDP). International Trade in Goods (Advance). Jobless Claims. Pending Home Sales.

Friday: Personal Income & Outlays. Consumer Sentiment.

This Week

Companies Reporting Earnings

Monday: Verizon Communications Inc. (VZ)

Tuesday: Tesla, Inc. (TSLA), Visa Inc. (V), PepsiCo, Inc. (PEP), GE Aerospace (GE), United Parcel Service, Inc. (UPS)

Wednesday: Meta Platforms, Inc. (META), International Business Machines Corporation (IBM), AT&T Inc. (T), The Boeing Company (BA)

Thursday: Microsoft Corporation (MSFT), Alphabet Inc. (GOOG, GOOGL), Merck & Co., Inc. (MRK), T-Mobile US, Inc. (TMUS)

Friday: Exxon Mobil Corporation (XOM), Chevron Corporation (CVX)

^{Source: Investors Business Daily - Econoday economic calendar; April 18, 2024}

^{The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.}

^{Source: Zacks, April 18, 2024}

^{Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.}

How can you name three consecutive days without mentioning the words Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, or Sunday?

Last week’s riddle: What has a tail and head but no body?

Answer: A coin.

As always, if there's anything we can help you with, please feel free to call the office anytime. (845) 790-4300/(914) 524-7770

I hope you have a great week.

Sincerely,

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/ SIPC.

Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS.

J. Pink Associates, Inc., Financial Advisors is not affiliated with Kestra IS or Kestra AS.

Investor Disclosures: https://kestrafinancial.com/disclosures

 Neither Kestra Investment services, LLC, Kestra Advisory Services LLC nor J. Pink Associates, Inc. offer tax or legal advice.

Footnotes and Sources

^{1. The Wall Street Journal, April 19, 2024}

^{2. CNBC.com, April 15, 2024}

^{3. The Wall Street Journal, April 16, 2024}

^{4. CNBC.com, April 16, 2024}

^{5. CNBC.com, April 19, 2024}

^{6. MarketWatch, April 19, 2024}

^{7. IRS.gov, October 23, 2023}

This material represents as assessment of the market and economic environment as a specific point in time and is not intended to be a forecast of future events, or a guarantee of future events, or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed by Kestra Investment services, LLC or Kestra Advisory Services LLC as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. The indices mentioned are unmanaged and cannot be directly invested into. Part performance does not guarantee future results. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market.

^{Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.}

^{The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.}

^{The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.}

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^{This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG is not affiliated with the named representative, financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security. Copyright 2022 FMG Suite.}

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3 Nancy Court, Suite. 1, Wappingers Falls, NY 12590