News

The American economy and financial markets continued to shrug off hawkish monetary policy in an impressive march forward through the first half of the year. Markets started the second quarter of 2024 on shaky footing, with stock indices all down more than 4% in April, before rebounding significantly in May and June. Although major U.S. indices finished the quarter in positive territory for the year, large-cap companies continued to outpace small-cap companies by a significant margin. The catalysts for market movements throughout the quarter were the usual suspects as of late: the Fed, inflation, AI, consumers, and corporate earnings.

In our latest quarterly investment outlook video, Ali Phillips, President and Partner, shares our firm's updated perspective on the economy and markets heading in to the third quarter of 2024. We remain cautiously optimistic about the path ahead for the market. The equity market continues to make its preference clear for established companies with industry leadership, significant competitive moats, and large total addressable markets.

We are excited to share that Forbes and SHOOK Research recently recognized our firm. Wally Obermeyer, Ali Phillips, and Dana Nightingale, representing our team’s collective efforts, were recognized for their dedication to providing clients with sound financial guidance and investment management.

In our latest quarterly investment outlook video, Ali Phillips, President and Partner, shares our firm's updated perspective on the economy and markets heading in to the second quarter of 2024. The U.S. economy kicked off 2024 by continuing its defiant march forward through the headwinds of the historic interest-rate-hiking campaign by the Federal Reserve. With conditions holding up sufficiently well under the weight of a 5.25%–5.5% benchmark rate since July 2023, the Fed appears content to take a patient approach to cutting rates as it waits until later this year for further evidence that inflation is firmly heading to its 2%.

The U.S. economy kicked off 2024 by continuing its defiant march forward through the headwinds of the historic interest-rate-hiking campaign by the Federal Reserve. With conditions holding up sufficiently well under the weight of a 5.25%–5.5% benchmark rate since July 2023, the Fed appears content to take a patient approach to cutting rates as it waits until later this year for further evidence that inflation is firmly heading to its 2%. With a soft landing likely coming into focus and markets looking forward to rate cuts and further AI-fueled growth, it is important for investors to remember that nothing is guaranteed, and that keeping a level head is paramount to staying steady during both the good and the bad times.

Obermeyer Wood Investment Counsel, a wealth management firm recognized by Forbes, Barron’s, and CNBC as one of the nation's leading independent advisors, is thrilled to announce the completion of its acquisition of Vail-based Booth Creek Capital and addition of its founder and portfolio manager, Adam Savin. The acquisition solidifies Obermeyer Wood’s commitment to providing top-tier investment solutions to clients and marks a new phase in the firm's strategy.