Market Performance Snapshot*
(August 2024)

At this time of increased market volatility, it is easy to let your emotions adjust your long-term strategy.  But during market turbulence, it’s important to remain calm and focused on your goals. 

To help you better understand the current market fluctuations, here is a brief overview summarizing recent activity (7/29/2024 - 8/5/2024):

  • Concerns about the economy and rising political tensions has affected major equity markets and trading in Asia, Europe and the U.S.
  • The market was focused on labor market indicators that showed weaker-than-expected July U.S. non-farm payroll report and unemployment claims
  • The Dow-Jones Industrial Average, S&P 500, and NASDAQ markets opened down, but regained some ground throughout the day (8/5/2024)
  • The U.S. Federal Reserve announced no change in the fed funds policy range
  • Statements issued by Fed Chair Powell strengthened market expectations that a rate cut is highly likely at the next Federal Open Market Committee meeting in mid-September
  • The Bank of Japan unexpectedly raised its overnight call rate (similar to the U.S. fed funds) to 0.25%--the highest in Japan since 2008

As always, your Corebridge Financial professional is available to answer any questions and review your strategy. You can also engage with available education and interactive learning modules to gain a deeper understanding of long-term financial planning.