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Health & Fitness

Third Quarter Stock Market review

As we entered the Bull Market that had dazzled the financial world for the first half of 2013, we began to see signs of upcoming volatility in the third quarter. The Federal Reserve’s stimulus policies were the focal point as economic data came in, coupled with geopolitical news from Syria in particular. Earnings in July were decent and most of July stocks continued moving straight up. August saw a downward move with tensions rising from Syria after news of a possible chemical attack on its own people. Economic reports started to come in with mixed results, and expectations were that the Fed was going to start tapering which led to a downward trend for stocks combined with interest rates creeping higher. The Morningstar US Market Index closed the quarter up 6%, however based upon the Fed’s decision to delay the taper based upon some of the less than enthusiastic economic reports, stocks may have run into some resistance heading into Q4. Beyond the Fed, the US Government is once again facing the issue of the debt ceiling and the lack of cooperation of Congress to seemingly agree on any meaningful type of plan for a reduction in spending and increasing of the debt ceiling. This scenario will most likely go to an 11th hour type of potential deal, all the while increasing the volatility as investors grow more and more concerned. 

From a sector standpoint, Q3 was led by Basic Materials +10.08%, Industrials +9.68%, and Consumer Cyclicals +8.94%. 

Laggard sectors were Utilities -0.33% and Real Estate -3.10%.

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To discuss how this subject or other financial subjects may relate to your own financial circumstance, please contact me at the contact information below: 

Christopher N. Congema, CFP®

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President, Investment Advisor

Core-X Wealth Management, LLC

900 Walt Whitman Road, Suite 208

Melville, NY 11747

631-923-2485 Phone

www.core-xwealth.com

chris@core-xwealth.com

This communication is from Core-X Wealth Management, LLC, a New York State Registered Investment Advisory firm. The information in this blog is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.  

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