The Final Stretch

It’s time to finish the year on a high note.

Author

Brian Famigletti
December 09, 2024

Hi All — Brian here. Welcome to December. Somehow, we're already in the final stretch of the year. We hope you had a wonderful Thanksgiving with family and friends. Now, it’s time to finish the year on a high note.

As 2024 comes to a close, it’s also the perfect time for year-end tax planning. This is your chance to fine-tune your wealth and estate strategies and make sure everything is in order. To help, we outlined how to keep more of what you earn.

In today’s edition we’re also going to be discussing:

As a quick reminder, the goal of this newsletter is to provide a closer look at key developments that moved the markets over the past month, share relevant thought pieces from our team, and discuss how these trends might impact your portfolio.

As always, we are here to support you, so please don’t hesitate to schedule a call or reply directly to this email if you’d like to discuss any of these topics in more detail.

NOVEMBER MARKET PERFORMANCE

S&P 500

6,032

+5.7%

Nasdaq

19,218

+6.2%

Dow Jones

44,910

+7.5%

NOVEMBER MARKET SUMMARY

  • November delivered a stellar performance for U.S. stocks, with the S&P 500 gaining 5.7%, the Dow Jones Industrial Average jumping 7.5%—its best month of the year—and the Nasdaq Composite climbing 6.2%, marking its strongest month since May.

  • Donald Trump notched a decisive victory in the US presidential election. This eliminated uncertainty, which Wall Street likes. Trump's pro-market stance, favoring tax cuts and deregulation, further bolstered investor confidence. More on this below.

  • Minutes from the Fed’s latest meeting, released Tuesday November 26, indicated that policymakers believe the risks of a significant slowdown in the labor market or the broader economy have lessened since the September meeting.

  • The latest consumer price index reading in November — which was for the month of October — showed inflation ticking up just slightly by 0.2% for the month. The annual rate came in at 2.6%, both of which were largely in line with estimates.

ONE BIG THING: THE ELECTION IS OVER

One thing that drove the markets in November was the 2024 U.S. presidential election. Naturally, one of the most impactful political events of each decade is bound to have an effect on equities. But it helps that, in this election year specifically, the economy was on the ballot.

Many polls before and after the election found the economy was the most important issue for the majority of voters — and they elected former President Donald Trump to address it. The market, for its part, reacted positively to the results. (Albeit with a touch of volatility too.)

Stocks soared in the wake of the news, then slumped the following week, as investors digested the implications of Trump’s win, cabinet picks, and controversial tariff proposals. Ultimately, though, the S&P 500 and Dow Jones Industrial Average finished November at record highs, a fitting cap to their best month of the year to date.

FEATURED POST

A Surprising Financial Turnaround

Millennials have faced many economic challenges unique to their generation, but they’ve recently encountered a surprising financial turnaround.

As a result of the Great Recession, the COVID pandemic, and the rising cost of living, this generation has long lagged behind others when it comes to major milestones like homeownership and wealth building — until now.

Today, millennials are wealthier than any former generation was at their age. And a remarkable financial trajectory suggests that might not change anytime soon. 

Despite the many challenges millennials have faced, they are beginning to close the wealth gap left by their predecessors. But how did this gap disappear so quickly?

KEEP READING

Is Setting up a Family Office Right for You?

The family office scene has increased globally in recent years, but what circumstances make this move right for you?

Managing Joint Accounts Successfully

Opening and managing joint accounts is all about being on the same page, from choosing an account type to managing risk.

Do Indices Have a Weight Problem?

Investors have long been comparing market-cap and equal-weight indices. But what are the distinctions, really?

CLOSING REMARKS

Our team at Griffin Asset Management is here to help you make the most of the opportunities and challenges ahead.

If you have any questions or would like to discuss your financial strategy, please don’t hesitate to reach out.

We’re always available to set up a call and provide the personalized advice you need. Thank you for your continued trust and partnership.