7.30.2023 I Market and Strategy Update

Your Money Radio

Introducing Gary Quinzel

• Gary is the Director of Portfolio Consulting
• Has been in the wealth management business since 2003, specializing in the areas of macroeconomic research, portfolio management, and investment analysis
• He writes the monthly investment commentary for Wealth Enhancement Group’s clients, which you can find on our website, wealthenhancement.com
• CFP® and CFA® professional designations
• In his free time, Gary loves to run and play sports

Our view of the world

• Investors may have grown tired of hearing economists forecast a US recession
• Despite moderating levels of inflation, there remains some concern that we could be in for a mild recession or even a “soft landing” — something our Roundtable of financial experts has been predicting for the past 18 months

On today’s Market Update, we’re focusing on four main areas:

• The strong recovery in the equities, especially Meg-Cap Growth stocks
• Probability of recession and subsiding market volatility since the beginning of 2023
• The strong labor market, despite signs of economic slowdown
• Inflation, which has declined but remains higher than policymakers like to see
• Outlook and opportunities for the second half of the year and beyond

1. Strong recovery in equities

2. Probability of recession and subsiding market volatility

3. Core inflation has declined but remains higher than policymakers like to see

4. Outlook and opportunities for the second half of the year (and beyond)