GARDNER BROWN ASSOCIATES, INC.
BIO
Louis A. Gardner, President of Gardner Brown Associates Inc., has been in the Financial Services industry for over 30 years. Over the span of his career he has served as an Executive with three major insurance carriers.
Gardner Brown & Associates, Inc was started in 2008 with the objective to allow our firm to work directly with individual and corporate clients in the vast area of financial advisement.
Louis has been named one of the nation's Best Advisors by Medical Economics due to his vast knowledge and expertise in the area of financial advisement. Gardner Brown Associates is able to assist corporate clients in devising executive, core and voluntary benefits and individual clients in all areas of financial matters.
From tackling personal decisions to reaching important milestones, Gardner Brown Associates, Inc. guides you on the path to financial success. As a professional financial planning firm, Gardner Brown Associates, Inc. guarantees optimal results based on your specific needs. We are fueled by our commitment to excellence and go the extra mile to make sure our clients are fully satisfied with the services provided. Get in touch with us today for a free financial advisement consultation.
Securities offered through Lion Street Financial, LLC, member FINRA, SIPC. Investment advisory products and services offered through Lion Street Advisors, LLC, an investment advisor registered with the SEC. Lion Street Financial, LLC and Lion Street Advisors, LLC are affiliated companies but neither is affiliated with Gardner Brown Associates, Inc. Neither of these companies provide tax or legal advice. Representatives may transact business, which includes offering products and services and/or responding to inquiries, only in state(s) in which they are properly registered and/or licensed. Not all of the services referenced on this site are available in every state and through every advisor listed.
Check the background of this investment professional on FINRA's BrokerCheck.
WHAT GARDNER BROWN ASSOCIATES, INC. OFFERS
FINANCIAL STATUS EVALUATION
Our clients are our number one priority, and we go the extra mile to make sure they’re completely satisfied with our service. Whether individual or corporate clients, we will review current insurance and investment holdings and provide explanations of current holdings in a manner which is understandable.
FINANCIAL ADVISEMENT RECOMMENDATIONS
Gardner Brown Associates, Inc. aims to collect, analyze, and solve your financial advisement needs. After we collect your current holdings data and analyze your information we are able to present customized solutions to assist you in reaching your financial goals.
ASSIST IN FINANCIAL GOAL SETTING
Many clients know what they want to achieve in 5, 10 or 20 years financially but they are not sure how to get there. At Gardner Brown Associates, Inc. we listen to your financial wants and needs and help develop a specific plan on how to achieve those goals.
BUSINESS HOURS
Mon - Fri: 7am - 6pm (PST)
Saturday & Sunday: By appointment only
MONTHLY MARKET INSIGHTS
NOVEMBER 2024
MONTHLY MARKET INSIGHTS
Stocks fell in October as pre-election jitters hung over trading while solid but not spectacular Q3 corporate reports failed to buoy spirits.
The Dow Jones Industrial Average fell 1.34 percent, while the Standard & Poor’s 500 Index (S&P 500) slipped 0.99 percent. The Nasdaq Composite fell 0.52 percent.1
LAST MONTH
US Markets
Stocks fell in October as pre-election jitters hung over trading while solid but not spectacular Q3 corporate reports failed to buoy spirits.
The Dow Jones Industrial Average fell 1.34 percent, while the Standard & Poor’s 500 Index (S&P 500) slipped 0.99 percent. The Nasdaq Composite fell 0.52 percent.1
International News
Middle East tensions unsettled investors early in the month as oil prices rose. But as the month progressed, prices fell back as investors took a more measured, wait-and-see approach.2
Economic Data, Wave I
A bumpy beginning gave way to an upbeat jobs report from the Department of Labor, which boosted markets. The Fed has told investors that it’s now focused on the jobs market as well as inflation, which elevates the importance of the monthly jobs report.3
Stocks continued their climb, with the S&P 500 and Dow Industrial hitting fresh record highs–despite hitting a speed bump after CPI data showed inflation was slightly warmer than expected in September.4
Economic Data, Wave II
A short time later, the Producer Price Index (PPI) report showed that wholesale prices stayed flat last month—a welcome update after CPI data.5
Then, news that existing home sales fell to a 14-year low in October stymied markets. The third-quarter Gross Domestic Product showed 2.8 percent annualized growth, which was a bit short of economists’ expectations but sparked more talk of a "soft landing."6,7
Q3 Reports
As the Q3 corporate season kicked off, update reports from a few money center banks gave markets an added boost. But as the month wrapped up, mixed reports from a few mega-cap tech companies unsettled investors, who already seemed a bit anxious in the run-up to the election.8
Sector Scorecard
Three of the 11 S&P 500 sectors were positive in October: Financials (+2.56 percent), Communications Services (+1.81 percent), and Energy (+0.90 percent). The biggest detractors were Health Care (-4.64 percent), Consumer Staples (-3.47 percent), and Technology (-1.56 percent). Meanwhile, Utilities (-1.08 percent), Materials (-3.10 percent), Real Estate (-3.29 percent), Consumer Discretionary (-1.74 percent), and Industrials (-1.19 percent) also trended lower.9
What Investors May Be Talking About in November
In the month ahead, investors will adjust to the outcome of the November election, which has been one of the most closely watched U.S. cycles in recent history.
While much focus goes on the presidency, what happens in the House of Representatives and Senate can have more influence on the policy agenda in 2025 and beyond. Here are a couple of areas to keep an eye on:
Taxes. Individual taxes and estate tax rates are expected to come into focus, given that the 2017 tax cuts are scheduled to expire at the end of next year. Corporate tax rates may also be revisited as discussions shift to what’s next with tax policy.
Government spending. From infrastructure to defense to entitlement programs, expect the financial markets to react as different ideas are proposed. But keep in mind that most changes generally follow a legislative process, which may take time to unfold as the issues are discussed and debated.
WORLD MARKETS
World Markets
The MSCI EAFE Index fell 5.50 percent in October with several European markets under pressure during the month.10
France was hardest hit, dropping 3.74 percent. Spain fell 1.72 percent, Germany lost 1.28 percent, and the United Kingdom dipped 1.20 percent. Italy was the outlier, picking up 2.68 percent.11
Egypt dropped 3.79 percent, while Mexico declined 3.46 percent. India fared worse, falling 5.83 percent.12
Pacific Rim markets were mixed despite the global slump. Japan picked up 3.06 percent, while China’s Hang Seng Index lost 3.86 percent. Australia fell 1.33 percent.13
Indicators
Gross Domestic Product (GDP)
The economy grew 2.8 percent on an annualized basis in Q3, slower than the 3.1 percent that economists expected. While the Q3 GDP cooled off slightly from the second quarter’s 3.0 percent pace.14
Employment
Employers added 254,000 jobs in September, about 100,000 more than economists expected. Unemployment ticked down to 4.1 percent last month—the second month in a row of declines.15
Retail Sales
Retail sales rose 0.4 percent in September, beating consensus estimates of 0.3 percent. September was an improvement from August when month-over-month sales were flat. Retail sales were up 1.7 percent year over year.16
Industrial Production
Industrial output fell 0.3 percent in September, weaker than consensus expectations of a 0.2 decline. The decline was primarily driven by a workers’ strike at a large aircraft manufacturer and by the effects of two major hurricanes.17
Housing
Housing starts slipped 0.5 percent in September, driven by lower multifamily sales. Construction of new single-family homes, by contrast, rose during the month. The 0.5 percent decline stood in contrast to August when housing starts rose. Year over year, total starts were down 0.7 percent.18
Sales of existing homes fell 1 percent to a 14-year low in September as high home prices and election jitters put the brakes on demand. This was the second consecutive monthly decline. Year over year, sales fell 3.5 percent. The median existing-home sales price was $404,500, up 3.0 percent from a year prior.19,20
New home sales rose 4.1 percent in September to hit a 16-month high as builders offered homebuyer incentives. Year over year, new home sales were up 6.3 percent. The median new home sales price was $426,300, up 3.7 percent over August. There were 470,000 unsold new homes on the market, representing 7.6 months of inventory.21
Consumer Price Index (CPI)
Consumer prices rose 0.2 percent in September and 2.4 percent from a year earlier—slightly warmer than economists expected. Core CPI, which excludes food and energy, grew 0.3 percent in September over the prior month and 3.3 percent on an annualized basis—also warmer than expectations.22
Durable Goods Orders
Orders of manufactured goods designed to last three years or longer fell 0.8 percent in September, slightly better than expectations. The largest drag was a drop in civilian aircraft orders due to the strike at a major U.S. aircraft manufacturer. Excluding that drag, durable goods orders rose 0.4 percent in September.23
The Fed
When the Fed concluded its two-day policy meeting on November 7, Chairman Powell gave investors his near-term outlook for short-term rates given what Fed officials see with inflation and, perhaps more importantly, the jobs market.24
Since 1977, when Congress amended the Federal Reserve Act, the Fed has had the dual mandate of pursuing maximum employment and stable prices. Policymakers want an inflation rate of 2 percent (as measured by the Personal Consumption Expenditures Price Index) while holding the Bureau of Labor Statistics unemployment rate at 4.1 percent.25
Over the next few weeks, investors will parse Powell’s November comments to gain insights into what 2025 holds for the bond market and the housing market, which is influenced by mortgage rates.
MONTHLY QUOTE
"Develop enough courage so that you can stand up for yourself and then stand up for somebody else."
Maya Angelou, American scholar and author
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, or state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.
Investing involves risks, and investment decisions should be based on your own goals, time horizon and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.
Any companies mentioned are for illustrative purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Any investment should be consistent with your objectives, timeframe, and risk tolerance.
The forecasts or forward-looking statements are based on assumptions, subject to revision without notice, and may not materialize.
The market indexes discussed are unmanaged and generally considered representative of their respective markets. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.
The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. The S&P 500 Composite Index is an unmanaged group of securities considered to be representative of the stock market in general. The Nasdaq Composite is an index of the common stocks and similar securities listed on the Nasdaq stock market and considered a broad indicator of the performance of stocks of technology and growth companies. The Russell 1000 Index is an index that measures the performance of the highest-ranking 1,000 stocks in the Russell 3000 Index, which is comprised of 3,000 of the largest U.S. stocks. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark for the performance in major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. Index performance is not indicative of the past performance of a particular investment. Past performance does not guarantee future results. Individuals cannot invest directly in an index. The return and principal value of stock prices will fluctuate as market conditions change. And shares, when sold, may be worth more or less than their original cost.
International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.
The Hang Seng Index is a benchmark index for the blue-chip stocks traded on the Hong Kong Stock Exchange. The KOSPI is an index of all stocks traded on the Korean Stock Exchange. The Nikkei 225 is a stock market index for the Tokyo Stock Exchange. The SENSEX is a stock market index of 30 companies listed on the Bombay Stock Exchange. The Jakarta Composite Index is an index of all stocks that are traded on the Indonesia Stock Exchange. The Bovespa Index tracks 50 stocks traded on the Sao Paulo Stock, Mercantile, & Futures Exchange. The IPC Index measures the companies listed on the Mexican Stock Exchange. The MERVAL tracks the performance of large companies based in Argentina. The ASX 200 Index is an index of stocks listed on the Australian Securities Exchange. The DAX is a market index consisting of the 30 German companies trading on the Frankfurt Stock Exchange. The CAC 40 is a benchmark for the 40 most significant companies on the French Stock Market Exchange. The Dow Jones Russia Index measures the performance of leading Russian Global Depositary Receipts (GDRs) that trade on the London Stock Exchange. The FTSE 100 Index is an index of the 100 companies with the highest market capitalization listed on the London Stock Exchange.
Please consult your financial professional for additional information.
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1. WSJ.com, October 31, 2024
2. CNBC.com, October 7, 2024
3. WSJ.com, October 4, 2024
4. WSJ.com, October 10, 2024
5. CNBC.com, October 11, 2024
6. MarketWatch.com, October 23, 2024
7. WSJ.com, October 30, 2024
8. WSJ.com, October 30, 2024
9. SectorSPDR.com, October 31, 2024
10. MSCI, October 31, 2024
11. MSCI, October 31, 2024
12. MSCI, October 31, 2024
13. MSCI, October 31, 2024
14. WSJ.com, October 30, 2024
15. WSJ.com, October 4, 2024
16. WSJ.com, October 17, 2024
17. KPMG.com, October 17, 2024
18. KPMG.com, October 18, 2024
19. MarketWatch.com, October 23, 2024
20. Realtor.com, October 23, 2024
21. Realtor.com, October 24, 2024
22. The Wall Street Journal, October 10, 2024
23. KPMG.com, October 25, 2024
24. FederalReserve.gov, 2024
25. ChicagoFed.org, 2024