Monthly Note

September 1, 2023

Summer is drawing to a close.  August started out a bit ugly for the markets but has turned around in the past few days.  The S&P 500 has almost recovered from the early month slump.  We’re still a few percentage points off the recent high and haven’t caught the 2021 high, but that’s in sight.

The housing market continues to show strength.  The job market is weakening a bit, but still relatively strong considering everything that has shaken out since COVID-19.  Inflation numbers will be very important this month (like every month) and everyone is tuned into the long term plan for interest rates, but the Fed is pretty tight-lipped about the future, which is smart on their part.

Account reviews are chugging along very well.  It’s about that time that I start thinking about end-of-year things.  I will start processing RMDs in October and will reach out sometime in November for those who are 73 or over.

Both of my kids are settled in college and Catie and I are learning what empty nest life is like.  So far everything has been smooth, but we’ll see what a couple months of college does to everyone.  My schedule for the rest of the year is pretty boring.  A few days out of the office for various reasons but should be readily available for all of the foreseeable future.

Michael Canavan

LPL Financial Advisor

Canavan Wealth

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

Stock investing includes risks, including fluctuating prices and loss of principal.