Published on: June 16, 2023

NetWorth Radio Advance Report - June 19, 2023

In this NetWorth Radio Advance Report, Spencer McGowan, President of McGowanGroup Asset Management, delivers financial news and intelligence with insights you can act on for June 19, 2023.

Advance Report

Radio Show

Q: What is summer planning season?
A: McGowanGroup clients are encouraged to schedule a 2023 planning call to update financial plans, schedule a preliminary 2023 tax planning call with their CPA’s, and update estate planning logistics.
Q: What events happen in July that could set off a large equity rally?
A: The trailing 12 month inflation rate, as of June 2023, drops by another 1% and company earnings announcements after the 4th of July Holiday can likely bring positive surprises especially related to economic growth.
Q: What are some of the impacts of the Securities & Exchange Commission’s (SEC) allegations against crypto exchanges so far?
A: The collective value of crypto currencies has fallen nearly $100 Billion since the SEC sued two of the largest crypto exchanges.


U.S. Consumer Price Index – Urban Consumers Year over Year, Non Seasonally Adjusted (06/15/2021 – 05/31/2023)

– Courtesy of Bloomberg LP

Dow Jones Industrial Average (12/30/2022 – 06/15/2023)

– Courtesy of Bloomberg LP

U.S. Consumer Price Index – Urban Consumers Month over Month, Seasonally Adjusted (06/15/2021 – 05/31/2023)

– Courtesy of Bloomberg LP

Rents Year over Year Change in Median U.S. Asking Rent (02/2020 – 05/2023)

– Courtesy of Redfin

Standard & Poor’s 500 Index and Federal Funds Target Rate Index (06/15/2003 – 06/15/2023)

– Courtesy of Bloomberg LP

Evolution of Atlanta Fed GDPNow Real GDP Estimate for 2023 – Q2 (06/15/2023)

– Courtesy of The Atlanta Federal Reserve

Standard & Poor’s 500 Index -Bi Monthly Earnings Per Share and Current Estimates (06/01/2017 – 12/01/2024)

– Courtesy of Bloomberg LP


Headline Round Up

*U.S. Federal Reserve Pauses Interest Rate Hikes for Now and Updates Forward Projections.
*Recent Egg Prices Drop Most in 72 Years in May!
*Inflation Down from 9% in June 2022 to 4%!
*New Lease Rents Poised for Drop, Only Second Time Since 2008.
*Goldman’s Chief Economist, Jan Hatzius, Says U.S. Economy on Course for a “Soft Landing.”
*Official End to Bear Market Last Week! Bulls See Room to Run with Bears Running in Fear of Being Wrong.
*Goldman Sachs CEO, David Solomon, Under Fire from Disgruntled Goldman Partners for DJ Side Hustle and More?
*Microsoft’s Suddenly Dominates Emerging Artificial Intelligence (AI) Software Market. *Nvidia’s AI Software Tricked into Data Breach!
*More Startups Throw in the Towel Due to Lack of Cash. Mass Extinction Event?
*Saudi Arabia Suckered Again by Russia! Saudis “Useful Idiots” for Russians?
*Drunk Russian Captain Crashes Oil Tanker in Irkutsk Region of Russia.
*Retail Sales Unexpectedly Rise in May, But What About the Recession?
*NextDecade Corp’s $11.5 Billion Rio Grande Liquified Natural Gas (LNG) Export Terminal Slated for 2027 Start! 
*Texas’ Fragile Power Grid to Face Break Record Power Demand with Intense Heat This Early in the Summer?
*Permian New Record from Natural Gas Production in 2022.
*Solar Stocks Are Hot!
*Advanced Micro Device’s (AMD) New Chip to Rival Nvidia.
*Oracle Hits Record High on AI Frenzy as Cloud Demand Soars.
*BlackRock Japan ETF Pulls in $1B in June on Amazing Japanese Nikkei Rally.
*Impossible Foods Shares Getting Grilled.


Profit Report

1. Why does McGowanGroup Wealth Management (MGWM) post our favorite CPA’s and Estate Planning Attorneys on our website*?
* MGWM does not receive compensation for/pay for referrals.
2. Why is your wealth management team important for your financial legacy after you are gone?
3. What are 3 of the biggest mistakes clients can make in retirement planning and how do we avoid them?
  • Retiring too soon: Avocation Phase.
  • Overfunding kids and grandkids during retirement: Set clear, defined boundaries and stick to them.
  • Overspending: 80% of free cash flow leaves a 20% reinvestment rate.


Research Round Up!

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*PIMCO: AI Winners and Losers?
*Nuveen: Tightening Cycle Over.
*Calamos: Why Bullish on Energy?

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