Quarter 2 - 2024 Newsletter

Enclosed with this letter is a simplified summary of your investment account values as of June 30, 2024. The quarter in brief as of 07/16/2024 (1)

                                                                              3 Month       Year to Date
Dow Jones Industrial Average                               +7.94%           + 8.26%
S & P 500                                                               +11.85%         +18.45%
S&P 500 Investment Grade Corp Bond Index        - 0.03%           - 0.56%

Our broker dealer was officially re-named OSAIC from Securities America, Inc. over the weekend of June 16th. As mentioned beforehand, this does not affect your investments or your relationship with us at Queen City Financial Advisors. That all remains the same. Now we are part of and supervised by a larger entity, providing us additional back office and compliance resources.

The main take away for the first half of this year was despite everyone worrying about a recession, the economy did slow down but it never entered a recession. The U.S has been adding an average of 234,000 jobs a month, the unemployment rate remains at a near all-time low of 3.9%, first quarter earnings reports were exceptionally good and stock markets are at all-time highs.(2)

The concern is that it may get tougher from here. The uncertainty of the election, with widely different tax and economic policies, and worldwide tensions all pose a serious risk to the rally continuing the rest of the year.

Let us help you ensure that your portfolio is properly diversified and matched to your risk profile to help you remain invested for the long term. If you have any questions, please contact us to schedule a time to review your own retirement portfolio.