The Armstrong Report: Summer 2025 Firm Update

Summer is here in SC! Hot! 

ECONOMY

The economy, however, seems to be cooling. While the economy has been far more resilient than most analysts expected, there are definite signs of a slowdown. It may not mean recession, but the possibility cannot be ruled out. 

MARKETS

The Israeli attacks on Iranian targets and the US attack with bunker-buster bombs on Iranian nuclear facilities have, so far, had little market fallout (no pun intended). The US market, after climbing out of the tariff-induced hole in April, is sitting right around the breakeven line for the year, still off the February highs. Foreign stocks have fared better. US bond yields have generally risen in response to perceived fiscal/debt issues but still have provided some cushion on most bad stock market days. Gold continues to be the outperformer as the combination of debt and geopolitical issues makes its perceived store of value stand out. However, please see the chart inside this newsletter for the true long-term picture of stocks versus gold.

On July 24th, I will host a webinar on LPL Research’s Midyear Market Outlook. Stay tuned for the invitations.

THE FIRM

Creighton celebrated his 5th anniversary with our firm this June. Also in June, I took the longest vacation of my career, over two weeks! It is a testament to all the team members that not only did things continue without a hitch, but even upon my return I was not overwhelmed. This is another reason why we believe clients are best served by a team, not just a solo advisor. We serve you better together.

Thank you for your continued trust in our firm.