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The Market in Five Charts: July/August 2023

Strong Economic Data Keeps Recession Fears at Bay

July 27, 2023 - The market capitalization of Apple recently exceeded that of the Russell 2000 small cap index. Meanwhile, buzz around artificial intelligence and its potential to change entire industries continues to grow. Rick Pitcairn in this episode of the Market in Five Charts says he sees similarities to 1999 as a revolutionary technology – artificial intelligence – sparks investor interest and extreme valuations on a few select stocks. Also notable is the decline in headline inflation, which has encouraged investors to be bullish. However, core inflation is proving to be much stickier. “We think the Fed is actually going to keep their foot on the economic brake more than the market is anticipating right now,” Pitcairn says.

 

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Pitcairn is a true family office and leader in helping families navigate the challenges and opportunities created by the interplay of family and financial dynamics. Through Wealth Momentum®, an experience-based family office model, Pitcairn helps families achieve a more effective and complete experience. Since its inception, Pitcairn has partnered with some of the world’s wealthiest families to meet their needs and drive better outcomes – year to year, decade to decade, generation to generation. Today, Pitcairn is recognized as an innovator, guiding families through generational transitions and redefining the industry standard for family offices. The firm is located in Philadelphia, with offices in New York and Washington, DC and a network of resources around the world.