News and Commentary

The U.S. stock market in July experienced a rotation from mega-tech and AI-driven stocks to a broader market. Coming off a robust second quarter that saw equities touch record territory, July witnessed a shift away from megacap technology toward blue-chip value, small-cap equities, and equal-weighted indices. Wall Street enjoyed a solid month in August, despite periodic volatility. Stocks overcame inflation concerns, a receding labor market, rising Treasury yields, monetary policy uncertainty, and ongoing geopolitical tensions in the Middle East to post end-of-the-month gains. The markets focused on strong corporate earnings, softening inflation data, and investor optimism surrounding AI.

Start year-end tax planning now to review income, gains and losses, retirement distributions, charitable giving, and tax payments—and prepare for 2027.

Take a more tax-aware approach with Janney’s Tax Overlay, an optional service for eligible U.S. taxable accounts seeking opportunities to help manage the potential impact of taxes.