Market Updates, AssetMark, Chocolate Chip Cookies and More

We hope your summer is off to a wonderful start! The second quarter brought several exciting developments for Capital Advisors—from expanding our capabilities with AssetMark to seeing continued movement across the markets. Here's a look at what's been happening.

Market Recap

U.S. stocks ended the quarter on mixed footing after a strong spring. Within the technology sector, AI-driven semiconductor companies continued to post impressive gains, while several of the Magnificent 7 stocks cooled after last year's exceptional performance.

S&P 500: -1.06%
Nasdaq 100: -0.19%
Dow Jones Industrial Average: +2.52%

The broader economy continued to show resilience. First-quarter Gross Domestic Product (GDP) was revised upward to an annualized growth rate of 2.1%, up from the initial estimate of 1.6%. Manufacturing expanded for a sixth consecutive month despite ongoing cost pressures from tariffs and geopolitical uncertainty, while consumer spending remained steady even as higher fuel prices affected household budgets.

Inflation, however, remained elevated. May's Consumer Price Index (CPI) increased 4.2% year over year—the highest reading since 2023—largely driven by rising energy costs. Core inflation, which excludes food and energy, edged up to 2.8%, signaling that underlying price pressures remain persistent. Although oil prices declined later in June following a U.S.-Iran ceasefire and the reopening of the Strait of Hormuz, those lower prices were not reflected in May's inflation data.

As we move into the third quarter, investors will be watching several key developments, including upcoming inflation and employment reports, second-quarter corporate earnings, and the Federal Reserve's July 28–29 meeting. The biggest questions remain whether inflation will continue to moderate, whether corporate earnings can justify current market valuations, and how interest rate expectations may shape both stock and bond markets.

AssetMark

In April, we began working with a new wealth management platform, AssetMark, to provide additional portfolio management options, particularly for clients looking to improve tax efficiency. This platform gives us greater flexibility to personalize portfolios through strategic tax-loss harvesting, rebalancing, and other tax-aware investment strategies. If you're concerned about the impact taxes may have on your investments, we'd be happy to discuss how these tools may help reduce your overall tax burden.

MissingMoney.com

Did you know billions of dollars in unclaimed property are waiting to be claimed? Every year, forgotten bank accounts, security deposits, payroll checks, insurance proceeds, and refunds are turned over to state governments.

Take five minutes this summer to visit MissingMoney.com. It's free, easy to use, and could help you recover money that's rightfully yours.

National Chocolate Chip Cookie Day

We're excited to celebrate National Chocolate Chip Cookie Day on Tuesday, August 4! Stop by our office anytime between 12:00 p.m. and 5:00 p.m. and enjoy one complimentary chocolate chip cookie. Bring your family, say hello, and stay for a few minutes. Whether you're stopping in for a sweet treat, catching up with our team, or simply happen to be in the neighborhood, we'd love to see you. Our door is always open, and you're always welcome.

Cookies available while supplies last.

Jen's Corner

Last week, Rick, Jeff, and I enjoyed our annual Schaefer family cruise. It's a tradition we treasure each year and a chance to slow down, recharge, and spend quality time together before the busy fall season begins.

Last month, I was deeply honored to learn that one of my clients had created a painting inspired by me called Unstoppable. She shared that the piece is a tribute to women who break barriers, overcome challenges, and lift others along the way. While I may have been the inspiration, I don't see Unstoppable as being about me alone. To me, it represents every woman who has chosen to keep moving forward, even when the path wasn't easy. My hope is that anyone who sees it is reminded of their own strength and leaves believing they're capable of more than they ever imagined. To view more work by Murdock, please visit murdockgallery.com. Image of Jen with Unstoppable by artist Murdock.