Perspective 1. Market Commentary
We have experienced a remarkably resilient stock market this year. The first few months were relatively calm, then March brought an abrupt 11% drop in the Dow Jones Industrial Average. Fortunately, the decline was short-lived. Within six weeks, the Dow had fully recovered and pushed to new record highs.
As of June 18th, around 9:15 am, the Dow Jones Industrial Average is up 6.76% year-to-date; the S&P 500 has gained 9.23%; the NASDAQ is up 13.44%; and the Russell 2000 leads with an impressive 18.03% gain. We are clearly seeing a rotation from large-cap growth companies toward small- and mid-cap stocks. I expect this rotation to continue as the economy strengthens.
Perspective 2. Strong Economy
Resilience is the theme of the year — in both the markets and the broader economy. Real GDP grew at a 2% annual rate in the first quarter and approximately 3% in the third. Manufacturing output is up 1.2% from a year ago. May job growth surprised to the upside with +172,000 new jobs, and the unemployment rate remains steady at 4.3% for the third consecutive month.
Despite higher gas prices and persistent inflation, I do not expect an interest-rate cut in the near term. Corporate earnings, however, have exceeded most analysts’ expectations — and earnings are ultimately what drive stock prices. Taken together, these indicators suggest there is little reason to fear a recession on the horizon.
Perspective 3. Our Name Change
By now, you are likely aware that we have changed our name from Vorpahl Wing Securities, Inc. to Vorpahl Wing Wealth Advisors, Inc. This change reflects what we have always been committed to: providing thoughtful, fiduciary-level investment advice. Now that we operate exclusively as an advisory firm — no longer a broker-dealer — there is no reason to keep “Securities” in our name. Advisory services are at the heart of what we do, and our new name better represents who we are and what we stand for.
Perspective 4. Celebrating 30 Years
On September 13, 1996, Chris Lefkowski and I started this company. Thirty years later, we are proud of what we have built and grateful for the trust our clients place in us. I am often asked when I plan to retire, and my answer remains the same: I have no plans to retire. I love what I do, and I love helping people. That said, continuity is essential — which leads to my next point.
Perspective 5. Introducing Payton Vorpahl
After graduating from Northern Arizona University and traveling the world, Payton chose to return to this community and help build our legacy. He is now a full-time member of our team, working toward his advisory license and the Certified Financial Planner (CFP) designation. We are excited to have him on board and proud to see the next generation stepping forward.
All my best,
Tim Vorpahl
President
Vorpahl Wing Wealth Advisors, Inc.