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JULY 2024


Our first article from Janney equity strategists details investment themes for the next decade. This piece reviews the major secular investment trends that will influence the economy and markets in the coming years. Let us know if you have any questions or thoughts on how these trends may impact your investment strategy.

 

Beginning to plan for a child’s education can seem like a daunting task. With the costs of college rising as much as 5% per year, the time to start saving and planning is now. For example, the national average cost of a:

  • Four-year public university today is $25,280 per year. In 18 years, that cost might be as much as $69,062 per year, or $276,248 total for four years.
  • Four-year private university today is $57,440 per year. In 18 years, that cost might be as much as $156,919 per year, or $627,676 total for four years. 

A 529 Education Savings Plan (529 plan) can be a great way to save for your children's or grandchildren’s education. Our second article outlines some of the key benefits of a 529 plan.


This month's "What's Happening Now" section shares stories on 12 summer destinations that are perfect for couples, how the founder of Toms Shoes went on a retreat with other entrepreneurs to combat his loneliness and depression, and the 10 most tax-friendly States for retirees.


We'd like to hear from you. Please feel free to contact us by phone at 614-888-2121, toll-free 877-389-2121 or email jchornyak@janney.com with any questions or comments. 

Sincerely,

Investment Themes For The Next Decade


This piece reviews the major secular investment trends that will influence the economy and markets in the coming years.

Read More

Tips for Leveraging 529 Education Savings Plans


You’re proud of the children in your life. And understandably, you may want to reward them with one of the best gifts you can give — supporting their education. Beginning to plan for a child’s education can seem like a daunting task.

Read More

What's Happening Now

12 Summer Destinations That Are Perfect for Couples

Founder of Toms shoes went on a men’s retreat to combat loneliness and depression

10 Most Tax-Friendly States for Retirees

Market Update


Wall Street got off to a slow start to begin the second quarter of 2024. Stocks lagged for much of April, rebounded in May, and were choppy in June. Investors spent the quarter watching economic data, trying to gauge whether the Federal Reserve might lower interest rates. In April, investors were discouraged by the unexpected rise in inflation, which dampened hopes of several interest rate decreases during the year. However, the latest economic data gave some indication that inflationary pressures may be scaling back. The personal consumption expenditures (PCE) price index for May rose at its slowest pace since March 2021. Nevertheless, lowering price pressures has been a slow process and inflation could push higher again. In response, the Federal Reserve has remained cautious in its assessment of inflation going forward and will look for more concrete data confirming downward price pressures before loosening its restrictive monetary policy. Several indexes reached new records throughout the quarter. The S&P 500 and the Nasdaq closed out the quarter at new highs, marking the 32nd record close of the year for the S&P 500 and the 21st for the Nasdaq.


Among the market sectors, information technology outperformed, gaining 14.5% in the quarter, followed by communication services, and utilities. Materials, industrials, and real estate lagged. Rising bond yields weighed on prices, with the yield on 10-year Treasuries closing the quarter up nearly 15.0 basis points from the end of the first quarter, while the yield on the 2-year note ended the quarter about where it began. Corporate earnings got off to a good start for the year, with first-quarter earnings exceeding analyst expectations for the fifth consecutive quarter. Roughly 78.3% of S&P 500 companies reported earnings that beat expectations, as companies in consumer staples, financials, health care, real estate, and communication services bested their prior four-quarter average. Investors will likely focus much of their attention on the Federal Reserve during the third quarter of 2024.


While the Fed has maintained interest rates at their current level for several months, they suggested that one decrease could be in the offing this year. Stock performance was choppy during the second quarter, with some indexes reaching record highs, only to fall back. Traders will look to the third quarter for more stability and steady gains in the market. 


Market update provided by Broadridge Investor Communications Solutions, Inc.

Chornyak & Associates Financial Planning Consultants
at Janney Montgomery Scott

716 Mt. Airyshire Boulevard, Suite 200, Columbus, Ohio 43235

Janney Montgomery Scott LLC Financial Advisors are available to discuss all considerations and risks involved with various products and strategies presented. We will be happy to provide a prospectus, when available, and other information upon request. Janney Montgomery Scott LLC, its affiliates, and its employees are not in the business of providing tax, regulatory, accounting, or legal advice. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any taxpayer for the purpose of avoiding tax penalties. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor. Market Update Prepared by Broadridge Advisor Solutions.

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