Phil, Mike, and Larry discuss former President Trump wanting a weaker dollar to help American manufacturers sell their products overseas, how the government could weaken the dollar, and how this would affect inflation. They then talk about spousal lifetime access trusts, better known as SLATs.

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As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss last week’s sell-off in global chip stocks after reports that the Biden administration is considering tighter export restrictions on chips being sent to China. They then talk about what will happen to the election and the markets now that President Biden has dropped out of the presidential race.

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As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss the S&P 500 Index and the Dow both hitting all-time highs on Friday, and the rising number of Wall Street pros that feel the market is overheated and fear we may have a pullback in the third quarter. They then talk about the assassination attempt on former President Trump over the weekend, and if and how this will affect the market, the economy, and the election.

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As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss the increased tariffs President Biden placed on $18 billion in Chinese imports — including electric vehicles, advanced batteries, solar cells, steel, aluminum and medical equipment — and their effect on the U.S. economy and the consumer. They then talk about strategies people use to pass along wealth before they die without incurring taxes.

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As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss Barclays’ new strategy to buy inflation hedges in the U.S. Treasury market in the wake of the Presidential Debate and the idea that Trump may win the presidency and cause inflation to rise. They then talk about how the S&P 500 has gone 387 days without a 2% sell-off, which is the longest stretch since the financial crisis, according to FactSet. And it’s come with conspicuously little volatility. The CBOE Volatility Index (VIX), the de facto fear gauge on Wall Street, in May hit its lowest level going back to November 2020 and it continues to trade near historically low levels.

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As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry talk about the U.S. Treasury market about to break even on the year after a first half which felt like a roller coaster ride. Having fallen 3.4% in April, bonds are now down just 0.1% year to date. They then discuss Morgan Stanley getting sued last week for failing to secure reasonable interest rates on its customers cash balances and how Focused Wealth Management handles client cash.

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As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss how three companies now make up 20% of the S&P 500 Index and if buying an S&P fund in this environment create undo risk? They then address a new plan from former president Trump on replacing the income tax with tariffs and if this idea will send inflation soaring by raising the price on most imported goods by as much as 110%?

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As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss how a million homes since 2019 have been bought with an adjustable-rate mortgage. Many of these loans are set at a rate lower than the prevailing 30-year interest rate for the first few years, then adjusted based on current borrowing costs. Coming out of the fixed period after interest rates soared is terrible timing for more than 330,000 borrowers. These payments could double and some homeowners say they might delay or default on their mortgage after that happens. They then talk about how Moody’s, the ratings agency, said it may downgrade the ratings of six U.S. regional banks due to their exposure to commercial real estate loans, and wonder what the repercussions might be for the stock market?

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As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss last Wednesday’s comments by JPMorgan Chase CEO Jamie Dimon, who said he expects problems to emerge in the $1.7 trillion private-credit industry, particularly as retail clients gain access to the booming asset class. They then talk about last week’s weak sale of Treasuries, which sparked concerns that funding the US deficit will drive up yields at a time when the Federal Reserve is in no rush to cut rates. With inflation sticky, these bond sales may be affecting stocks.

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As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Phil, Mike, and Larry discuss Nvidia’s stellar earnings, the subsequent market rally, and what this means for the tech sector going forward. They then talk about the Federal Reserve and it’s governors repeatedly telling the market the Fed plans to keep interest rates higher for longer with the possibility of a rate hike, and how this will affect the stock market for the rest of the year.

Submit your questions to [email protected]

As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.