Lake Street Private Wealth

ON THE STREET MONTHLY - ELECTION RESULTS & MARKET IMPLICATIONS As the election approaches, many investors are weighing how outcomes might impact the markets depending on which candidate wins. While the president’s economic influence is often debated, the roles of the Senate and House are also significant from a historical perspective. The chart below shows annual stock market returns based on political party control, including scenarios of gridlock in Washington and one-party control. Our perspective on this chart is that while political parties can influence the economy—and by extension, the markets—historically, markets have performed well under a range of government configurations. With the news cycle often sensationalizing potential election outcomes, it’s helpful to take a step back and recognize that markets have historically shown resilience across various political scenarios. Please visit our website for the full commentary: https://lnkd.in/gjgCJNN2 #LakeStreet #newsletter #OntheStreet

ON THE STREET MONTHLY - HOW BULL MARKETS FARE IN OCTOBER The markets began September, historically one of the toughest months of the year, on a fearful note. In the first three trading days, the S&P 500 dropped 4.4%, leading investors to brace for another weak September. However, after the initial downturn, the markets rebounded and ended the month in positive territory, marking the first time since 2019 that September closed with gains. Please visit our website for the full commentary: https://lnkd.in/dwwrV6qw #LakeStreet #OntheStreet #Newsletter

ON THE STREET MONTHLY - SUMMER RALLY EXTENDING OR EXTENDED? As we enter September, investors who resisted the urge to "sell in May and go away" have been rewarded. In our June newsletter, we highlighted that during election years, June through August has historically been strong for the market. True to form, the S&P 500 gained 7.0% over this period, closely aligning with the historical election-year average of 7.3%. Please visit our website for the full commentary: https://lnkd.in/gF3N8TJS #LakeStreet #OntheStreet #Newsletter

ON THE STREET MONTHLY - SUMMER RALLY EXTENDING OR EXTENDED? As we enter September, investors who resisted the urge to "sell in May and go away" have been rewarded. In our June newsletter, we highlighted that during election years, June through August has historically been strong for the market. True to form, the S&P 500 gained 7.0% over this period, closely aligning with the historical election-year average of 7.3%. Please visit our website for the full commentary: https://lnkd.in/gF3N8TJS #LakeStreet #OntheStreet #Newsletter

ON THE STREET MONTHLY – GROWTH SCARE OR SOMETHING MORE? As we entered August, the market shifted direction, retreating in response to a weaker jobs report and an unexpected interest rate hike by the Bank of Japan. Despite the market pullback, Q2 earnings are projected to rise by 11.5%, marking the strongest quarter since late 2021. Please visit our website for the full commentary: https://lnkd.in/gzaBJiwK #LakeStreet #OntheStreet #newsletter

NEW INHERITED IRA TAX RULES & IMPACTS TO BENEFICIARIES Last week, the IRS issued a determination regarding Inherited IRAs, specifically addressing the requirement for Required Minimum Distributions (RMDs). As the rules become increasingly complex, we want to highlight an important detail that account owners should be aware of. Please visit our website for the full commentary: https://lnkd.in/gpD-WMfn #LakeStreet #StreetSmarts #InheritedIRA #RMD

We’re excited to share that Financial Advisor Magazine has named Lake Street as one of America’s top Registered Investment Advisors for 2024! This is an important milestone for us, especially as we celebrate our first year of surpassing one billion dollars in assets under management. We’re extremely proud of this achievement and will keep working hard for our clients. FA Magazine: https://lnkd.in/gvtZtnta

We’re excited to share that Financial Advisor Magazine has named Lake Street as one of America’s top Registered Investment Advisors for 2024! This is an important milestone for us, especially as we celebrate our first year of surpassing one billion dollars in assets under management. We’re extremely proud of this achievement and will keep working hard for our clients. FA Magazine: https://lnkd.in/gvtZtnta

ON THE STREET MONTHLY – SECOND HALF IS HERE, RATE CUTS ARE NEAR? As we step into the second half of 2024, one of the prevailing themes in the market since the beginning of the year has been the anticipation of potential rate cuts. Economists had varying predictions, with some forecasting as many as 6 rate cuts for the year. However, as we approach July, the Federal Reserve has yet to adjust rates despite a decline in inflation. The Fed operates under a dual mandate of maintaining price stability (inflation) and promoting employment. Please visit our website for the full commentary: https://lnkd.in/gTbJ3XxV #LakeStreet #OntheStreet #newsletter

ON THE STREET MONTHLY - BAD NEWS IS GOOD NEWS? There have been numerous occasions when bad economic news has triggered a positive market reaction. This pattern repeated with the latest report from the U.S. Bureau of Labor Statistics. On June 4th, the JOLTS data was released, detailing job openings among other metrics. The anticipated number of job openings was 8.35 million, but the report revealed only 8.039 million openings, falling short by approximately 300,000. The chart below illustrates the number of job openings compared to available workers, a metric frequently cited since 2022 when companies faced challenges filling positions. Please visit our website for the full commentary: https://lnkd.in/g4ugktbd #LakeStreet #OntheStreet #newsletter