Transcript of the podcast:
After you listen
- Follow Mike Townsend on X (formerly known as Twitter)—@MikeTownsendCS.
- Check out “Back in Black: S&P 500 Hits All-Time High,” by Liz Ann Sonders and Kevin Gordon.
With the S&P 500® and Dow Jones Industrial Average hitting record highs recently, the bear market is officially over. But is this momentum sustainable? Schwab Senior Investment Strategist Kevin Gordon joins host Mike Townsend to dig into the latest economic data and discuss some potentially worrisome signals as well as signs of improvement. They also preview the upcoming Fed meeting and the outlook for rate cuts in 2024, discuss how rolling recessions are starting to become rolling recoveries, and remind investors why they should not let this year’s presidential election become an investing distraction.
And Mike provides an update on the latest from Washington, where lawmakers again barely averted a government shutdown, there is surprising bipartisan support for a tax bill, and the SEC reluctantly approved the first Bitcoin exchange-traded funds.
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