Hello Again,
What the heck just happened? West Texas Crude Oil is down by some $22/barrel today, and the Dow Jones Industrial Average is up by more than 1,000 points. We all know the answer by now right? There has been some sort of cease fire agreement with Iran, and when oil declines, stocks go up. At least for now. The question is…….will it hold?
Nobody knows the answer of course, but this new heightened level of volatility and uncertainty seems to be the new normal. Therefore, it’s probably best that we all just take a deep breath and have faith that this too shall pass.
Interestingly, Ernie recently uncovered some research that shows that even though stock prices have been coming down this year, company profits are still going up. That’s a good sign folks! So if oil stops going up, then certainly there may be very good reasons to remain optimistic.
Reminder that the tax filing deadline is coming up, and if you qualify, you can still do an IRA or Roth IRA contribution for 2025. Drop us a note if we can help!
Mike & Company