Another tax season in the books and I am starting to catch up. But I will take a few days off on Friday May 8 and Monday May 11.
What’s going on in the Stock Market? The S&P 500 as of Friday, May 1 was up 5.62%. Will it hold, climb or drop? I believe if it were simply up to the economy, it would continue to climb. Yes, there are lay-offs and store closures, but in general, business is moving ahead. However, the stock market movement is not the sole purview of the business community, enter politics. Iran and mid terms will be the talk of the town for the next bit of time.
The NASDAQ, home for a number of technology stocks, is also at an all time high. Yes, there is a lot of talk about AI (artificial intelligence). Has it peaked? You tell me. How often are you searching with ChatGPT or Claude or….? I think we have a way to go in the adoption of AI before it peaks.
How about the Bond Market where the conversation seems to be all about Jerome Powell, a new Fed Chair, and our current President. Yes, our eye is on the FOMC to see if interest rates are going up or down. Anxious home buyers, holders of Certificate of Deposit are all placing their bets one way or another. To home buyers I say; if you find your dream home, buy it and refinance as rates go down. Nani and I bought our first home in 1983 with rates above 15%
On another note, we have an intern with us for the Summer. Ben Haderlie is attending BYU-Idaho and looking for a degree in financial services. Newly married and living for the Summer here in Napa. We are putting him to work at all those little projects I never seem to get to.
Sunday, May 10 is Mother’s Day. Unfortunately, my mom passed away several years ago. The way I can honor her is how I treat my wife and my daughter who is a mother. Regardless of your ‘mom’ situation, take a moment to remember, to call or visit if you can and most of all, honor the lessons your Mom taught.