Another strong week of corporate earnings is now in the books and the upward trend remains intact. The one slight surprise could be that several of the high-flying tech and social media companies that had been leading the charge throughout the Covid downturn and subsequent recovery, are now showing signs of slowing down. Some of this is being attributed to the growing themes of privacy concerns and transparency as it relates to ads that appear throughout our digital lives. I for one have used the “ask app not to track” feature on my iPhone. Haven’t you ever wondered how in the world a Facebook ad on your news feed shows an item you might have googled only minutes earlier? In any event, the electronic world we all live within will continue to evolve. Many of the technology companies we use and consume today will be old news by tomorrow. This is a simple fact; technology is in a constant state of evolution and seeing large and small companies alike have highs and lows are completely normal. In our view, this remains a prudent place to invest for the long-term. The other components of a well-rounded portfolio are coming into play, and I suspect we will continue to see this unfold over the next few quarters.
The global demand for energy continues to accelerate in the face of consumer needs and wants. Prices at the pump are currently sitting at seven-year highs with no signs of slowing anytime soon. We have already seen signs of worry from Europe and other places abroad as supply constraints remain tight. The tug of war between climate change and fossil fuel usage remains at odds with one another with no clear end in sight. This is only adding to the issues. Whether we like it or not, winter is coming, and while demand outpaces production, the upward price momentum will most likely stay in place for the foreseeable future. Road trips, airline flights and transportation costs should respond accordingly. I’ve said this before, but will reiterate it again, get your holiday plans in place and shopping done early!
Continued inflation concerns and the newest “delta plus” variant now spreading in the U.K. are on deck again. I feel like I’m watching a record skipping on the turntable. Make it stop please!!
Happy Fall ya’ll.
Your local Towson Financial Advisors
https://www.cnbc.com/2021/10/19/gas-prices-are-at-seven-year-high-how-to-save-at-the-pump.html