Today is Friday, June 7, 2024, and it’s time for another MDT Markets Minute. We posted a video on this topic if you would prefer to watch.  As we ease into summer, our office in Houston is already feeling the heat, and we’re also experiencing some interesting shifts in the market.

This morning, our office enjoyed a delightful French Open-themed brunch, thanks to one of our client associates who is a big tennis fan. We had croissants and other delicious treats to celebrate the finals this weekend. These moments are a great way for our team to catch their breath amidst the hustle and bustle of a normal day in the office.

Switching gears to market news, it’s been a rollercoaster ride. After a strong finish in March, April was rough for both stocks and bonds. May saw a bit of recovery, but June has been a mixed bag so far. Today, we also saw the release of May’s employment numbers, which came in higher than expected at 272,000 jobs added. This has implications for interest rates and market volatility.

Recently, the Wells Fargo Investment Institute published a report titled "Buckle Up for More Volatility," which we’ve shared with our clients. The report emphasizes that while inflation has shown signs of easing, it remains a critical factor influencing market dynamics. The Fed’s decisions on interest rates will be pivotal. At the start of the year, multiple rate cuts were expected, but now it seems we might see fewer adjustments due to persistent inflation and strong employment figures.

As we navigate these economic uncertainties, it’s also a good time to think about estate planning. We encourage everyone to prepare for the unexpected. Ensuring your affairs are in order can make a challenging time easier for your loved ones. If you’d like a copy of our "Preparing for Tomorrow Today" guide, please let us know.

Stay tuned for more updates, and don’t hesitate to reach out with any questions. Have a great start to your summer!



Wells Fargo Advisors Financial Network did not assist in the preparation of this report, and its accuracy and completeness are not guaranteed.  The report herein is not a complete analysis of every material fact in respect to any company, industry or security.  The opinions expressed here reflect the judgement of the author as of the date of the report and are subject to change without notice.  Any market prices are only indications of market values and are subject to change.  The material has been prepared or is distributed solely for informational purposes and is not a solicitation or an offer to buy and security or instrument or to participate in any trading strategy.  Additional information is available upon request.

Wells fargo Investment Institute, Inc. is a registered investment adviser and wholly owned subsidiary of Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company.