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Stock Market Performance

• Strong performance year-to-date
• Driven by AI enthusiasm and anticipated Fed rate cuts
• Outperformed historical election-year trends
• Recommendation: Reallocate profits from AI stocks to broaden portfolio

Economic Growth

• First-quarter GDP weaker than expected (1.4%)
• Consumer spending slowed down
• Corporate investment increased
• Forecast GDP growth of 1.7% for 2024, rising to 2% in Q4 2024 and 2025

Labor Market

• Slower job growth in June (206,000)
• Unemployment rate increased to 4.1%
• Wage growth moderating

Consumer Economy

• Mixed signals: weak sentiment and retail spending, but strong housing market recovery potential
• Retail sales growth slowing down
• Housing market sluggish due to high mortgage rates

Monetary Policy

• Fed paused rate hikes in July 2023
• Inflation moderating, but still above 2% target
• Anticipation of rate cuts later in the year

Historical Market Performance

• Strong mid-year performance historically predicts strong full-year performance
• 2024 marks the first double-digit mid-year gain in a presidential election year since 1980
• Average full-year gain after a double-digit mid-year gain is 23.3%

Disclosures

Bloomwood does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.

For additional information about Bloomwood, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website ( www.adviserinfo.sec.gov ). Please read the disclosure statement carefully before you engage our firm for advisory services.

The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor. 

The views expressed in this commentary are subject to change based on the market and other conditions. These documents may contain certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. Any projections, market outlooks, or estimates are based upon certain assumptions and should not be construed as indicative of actual events that will occur. 

All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability, or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

Bloomwood is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Bloomwood and its representatives are properly licensed or exempt from licensure. 730 Starlight Lane, Atlanta, GA 30342.