The U.S. stock market reached new highs in the first quarter with three consecutive months of positive returns capping the quarter with strong gains for U S and International equities. The U.S. economy remained resilient despite short term interest rates sitting near 20-year highs. Strong corporate earnings, a robust labor market and the continued strength of the U.S. consumer provided a supportive backdrop for stocks and propelled..
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2023 was supposed to be the year of a likely recession. That did not happen. In fact, the U.S. economy proved remarkably resilient and global stock and bond markets were able to shake off a host of uncertainties to post strong gains for the year; unlike 2022, when virtually every asset had negative returns.
What a difference a year makes. The 4th quarter was aided by a powerful year-end rally as U.S. stocks (S&P 500) jumped nearly..
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Although year-end is rapidly approaching, there is still time to implement tax saving strategies to lower your 2023 taxes. Current focus should be on deferring 2023 income into the following year and accelerating potential deductions for 2024 into the current year. This is often referred to as the "normal approach" to year-end tax planing.
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