Welcome to November, where the U.S. markets are as predictable as your favorite soap opera—full of unexpected plot twists and drama! October saw the S&P 500 hitting record highs, thanks to impressive Q3 earnings and hopeful whispers of rate cuts from the Fed. But, just when we thought the Fed was playing the hero, Powell stepped in with a classic cliffhanger, reminding us that rate cuts might take their sweet time as he “carefully recalibrates” the economy. Meanwhile, geopolitical tensions pushed oil prices up, just in case anyone thought we were going to have a boring month.
And, of course, the age-old debate resurfaces – do elections really sway the market? Politicians and analysts alike spin predictions, but as The Week humorously points out, the actual impact is often minimal. Turns out, the market might not care as much about who’s in charge as it does about inflation and earnings reports. Go figure!
The two key topics for this month’s insight are:
ELECTION
How do presidential elections affect the stock market?
Ready or not, Election Day is right around the corner. Most of the attention is on the candidates themselves, but investors also may find themselves wondering what the outcome may mean for the stock market — and, in turn, their portfolios. While there is no way to predict the future, history can still offer some helpful guidance and hopefully cool some nerves.
RETIREMENT
IRS Ends Inherited IRA Confusion: Annual RMDs Required for Many
In long-awaited final rules, the IRS has finally clarified the controversial 10-year rule for inherited individual retirement accounts (IRAs). The new guidance, set to take effect in 2025, addresses a key question that has puzzled many advisors and beneficiaries since the passage of the original SECURE Act five years ago.
Here’s more of what you should know.
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