Albion Financial Group

US stocks finished mostly higher in a fairly quiet week for macro news. The post-election broadening of the US equity market rally (a trend that really began back in July) continued apace, with cyclicals and small caps outperforming. ? International benchmarks posted only modest gains and continue to lag far behind the US in 2024. The prospect of higher tariffs and stricter border controls under a second Trump administration has weighed on sentiment around global trade, with the effects expected to disproportionately impact the more export-oriented economies of Europe and Asia. See the Chart of the Week for a comparison of US and international equity performance since the US election on November 5th. ? Tech bellwether Nvidia saw some profit-taking on Friday but finished essentially flat on the week after posting blowout Q3 earnings, including yet another quarter of triple-digit y/y EPS growth. CEO Jensen Huang noted that production of the company's new Blackwell chips has begun ramping up, but relentless demand from data centers will still exceed available supply for the next several quarters. ? On the macro front, homebuilder sentiment improved on the prospect of fewer regulatory hurdles in the future, although that optimism has yet to flow through to increased construction activity as persistently high mortgage rates continue to impact affordability and demand. Elsewhere, S&P's US manufacturing (48.8) and services (57.0) PMIs improved sequentially in the preliminary November reading, and the US labor market remained solid with the October storms-driven uptick in jobless claims now solidly in the rearview. https://lnkd.in/gMT_Zabe #wealthmanagement #investing #financialplanning #gooddecisions #albionfinancialgroup

Albion CIO Jason Ware, MBA, BFA? recently spoke with Oliver Renick on Schwab Network about Target and the state of the American consumer. Ware: "We think earnings go up over the next few years and the stock is cheap ... you want to buy these things when times look tough ... meanwhile, Target has a 3% dividend currently that should grow faster than inflation - so we still like the stock's total return over the long run." #investing #wealthmanagement https://lnkd.in/gSZS8XPt

In Albion's final 2024 Conference Call from last week our panelists discussed the following topics: Essential Year-End Planning Items Macro-Economic Report Wage Growth Relative to Inflation Tariffs Interest Rates & The Fed’s Posture Mortgage Rates & Treasury Yields Market Valuations Mergers & Acquisitions and Initial Public Offerings in 2025 Stock Market Risks Money Market and Cash Equivalent Yields Geopolitical Concerns and Global Markets AI Investments and Albion’s NVIDIA Acquisition US Government Deficit AI Infrastructure & Renewable Energy Watch the video on YouTube or stream the audio of the call. https://lnkd.in/gf86dNTU #wealthmanagement #investing #financialplanning #gooddecisions #albionfinancialgroup

Bond yields rose and equity markets gave back some of their post-election gains after fresh inflation data cast additional doubts on whether the Fed would cut overnight interest rates in December. ? Consumer Price Index (CPI) data for October was released on Wednesday and showed little change sequentially, with core (ex food & energy) inflation still well above the Fed's target at +3.3% y/y. See the Chart of the Week for a breakdown of CPI. ? Later in the week, Producer Price Index (PPI) data showed a sequential increase in upstream inflation pressures, with core PPI inflation rising 30 basis points sequentially to +3.1% y/y. Import/export prices also rose sequentially, although trade is not currently a significant driver of inflation in the US. ? By Friday's close, futures markets were pricing in only slightly better than 50/50 odds of a rate cut in December. Meanwhile, rates moved higher across the curve last week, with 10y Treasury yields briefly touching 4.5% for the first time in five months. ? Against this backdrop of sticky inflation and rising rates, equities were unable to sustain their post-election gains. The healthcare sector was particularly hard hit after President-elect Trump nominated RFK Jr. to head up the US Department of Health and Human Services. Small caps were also weaker last week after outperforming significantly in the first few days following the election. https://lnkd.in/gGxv2nrU #wealthmanagement #investing #financialplanning #gooddecisions #albionfinancialgroup

We recently returned to Woodrow Wilson Elementary, partnering once again with the Utah Food Bank to help?#fighthunger?in our community. In the spirit of #gratitude, we reflected on the words of President Theodore Roosevelt: "Let us remember that, as much has been given us, much will be expected from us." With this in mind, we packaged and distributed food to children for them and their families. One of the most touching moments came from the children themselves, who expressed their humble gratitude with smiles and simple thank-yous. Their genuine appreciation reminded us of the profound impact our efforts can have on young lives. The joy we witnessed in their faces served as a powerful reminder that even the smallest acts of kindness can create ripples of positivity. As we approach this season of #thankfulness, we are grateful for the opportunity to serve and uplift those around us. We look forward to more chances to make a meaningful difference in our community. #volunteering #gooddecisions #albionfinancialgroup

Albion CIO Jason Ware, MBA, BFA? joined CNBC this morning to discuss The Walt Disney Company's upcoming earnings report and the #stock. In the first part, Ware nicely captures our (bullish) take on the entire span of Disney's sprawling empire as it relates to the quarter - and all in just under 90 seconds. In his reply to a follow-up question, however, Ware took a page out of Jerome Powell's #FOMC press conference last week with a flat one-word answer: "No." WATCH the entire segment to see what that question was and why it's a no. #investing #wealthmanagement #houseofmouse #owngreatcompanies https://lnkd.in/gyfKqDpF

US stocks moved sharply higher in the wake of Tuesday's election outcome, which saw Donald Trump reclaim the White House while the Republican party achieved majorities in the House and Senate. Cyclicals and small caps were the biggest beneficiaries, as the prospect of deregulation and lower taxes gave investors greater confidence to invest in economically sensitive sectors. Meanwhile, international markets moved lower in the immediate aftermath of the US election and finished close to flat in the aggregate on the week, as Trump's "America First" agenda and the prospect of significant tariffs weighed on foreign stocks. Rates initially moved higher across the curve on the election result, but then drifted lower in the back half of the week. As expected, the FOMC delivered a 25 basis point rate cut on Thursday. Fed Chair Jerome Powell struck a balanced tone during the ensuing press conference, noting that the committee is attempting to find the "middle path" between moving too quickly and undoing the progress on inflation, and moving too slowly and allowing the labor market to weaken too much. Also of note during the press conference, Powell indicated that he would serve out his full term as Fed Chair, even if asked to resign by President-elect Trump. He also noted that the committee would not speculate on the potential impact of Trump's policy priorities (tariffs, stricter border control, deportation of undocumented immigrants, etc.) on inflation or the economy, and would not enact monetary policy changes in anticipation of any such policies. Rather, the committee will continue to assess incoming economic data in real time, and recalibrate monetary policy as needed in order to fulfill its dual mandate of price stability and full employment. https://lnkd.in/gx9YA-hR #wealthmanagement #investing #financialplanning #gooddecisions #albionfinancialgroup

Markets on edge as US election looms: Rates climb, stocks retreat, and job growth surprises. Find out how the final stretch before the vote is shaping the financial landscape. https://lnkd.in/gU55iSXP #weeklymarketrecap #investing #wealthmanagement #gooddecisions #albionfinancialgroup

Albion CIO Jason Ware, MBA, BFA? joined CNBC on Tuesday late afternoon to discuss some mega cap tech earnings just released, like Alphabet Inc., as well as preview tech earnings to come. Of course, he was also asked about the current landscape for the #economy and #markets. In this snippet (part of two fuller segments during the show), Ware highlights his thinking on tech as well as how AI might impact the labor market more broadly: "The future is bright for these tech giants, and they're winning with AI in two ways ..." WATCH to see how. #investing #wealthmanagement #AI #owngreatcompanies https://lnkd.in/gNVxiANb

Our Senior Wealth Advisor team members are currently in #Nashville for the #NAPFA Fall National Conference! ????? This year's theme, "Chart Topping Strategies: Hitting High Notes for Your Clients," perfectly encapsulates the spirit of innovation and excellence in fee-only financial advising. We're delighted to be immersing ourselves in unparalleled continued education opportunities and engaging with fellow fee-only advisors from across the nation. This conference is an invaluable chance to: ? Stay at the forefront of industry trends ? Exchange best practices ? Explore cutting-edge strategies to better serve our clients Grateful for the opportunity to grow professionally and bring back fresh insights to enhance our client service. Looking forward to implementing what we learn to create even more harmonious financial plans for our clients! ???? #NAPFA24 #FeeOnly #FinancialPlanning? #GoodDecisions #AlbionFinancialGroup