Hope you are all doing well. The multi week winning streak for stocks ended this week. As all three major averages were down this week as the market digested the possibility of further rate increases. The Dow was the worst performer down 1.7% on the week. I will keep my commentary this week brief.
As of the writing of this email armed rebels are marching towards Moscow how this rebellion unfolds will certainly have an impact on the markets next week. Overnight, a mercenary group’s forces seized control of Russian military facilities in Rostov-on-Don, a city of more than a million people near the border with Ukraine. The seizure is significant. Rostov is home to the Russian military headquarters overseeing the military supply line fueling Putin’s invasion of Ukraine. It adds another layer of uncertainty to an area of the world that fueled quite a bit of market volatility last year.
Domestically it was a light news week, there was one piece of news that should have your attention. House conservatives on Wednesday proposed raising the US retirement age to collect Social Security. The proposal by the 176-member House Republican Study Committee would gradually increase the retirement age, ultimately hitting 69 years old for those born 1971 or later.
A quick update on the transition from TD Ameritrade & Belpointe to Charles Schwab & Brookwood. Everyone who has a TD account with me should have received a DocuSign at this point from Rebecca Loeffler. She works with me as does Suzanne Furrow whose name you might see on some of the forms, she is overseeing the transition. If you have not received the email please let me know and I will have Rebecca re-send it. If you are having trouble accessing the DocuSign let me know that as well. If you’d like to speak about your investments or your plan, my calendar link is below and you can schedule a phone or zoom appointment at any time.
