“The secret to change is to focus all of your energy, not on fighting the old, but on building the new.”
-Socrates
*Author’s note: apologies for the late and short newsletter this week. The office move has taken most of our focus and I chose the most inopportune time to pick up a COVID infection. The full newsletter should resume next week.*
Here’s what you need to know this week:
· Investors flock to quality stocks as a hot inflation report brings market volatility
New Office Open House!
We have officially moved! We are still getting settled but we are now working from our new office. The new office’s address is:
3817 NW Expressway Suite 1030
Oklahoma City, OK 73112
The new office is just about a mile down the road from our old office:
We have also set the official dates for our first Open House events. We will be hosting two open houses at the start of November: Thursday, November 5th and the following Tuesday, November 10th. Both open houses run from 4:30 to 7:00 PM, are come-and-go and we will have snacks and refreshments. We will send out reminder emails as the dates come closer, please stop by to check out the new office!
Dow vs. Semis
Stocks fell last week due to a hot inflation report. The Consumer Price Index (CPI) report showed inflation accelerating to 3.7% annualized, the highest in more than three years[1]. Oil prices continue to be the main driver of rising inflation; Brent Crude, the benchmark price for Middle Eastern oil, rose above $110/barrel last week for the first time since May:
While stocks as a whole fell, certain pockets of the market were impacted very differently. The Dow Jones Industrial Average (more commonly known as the Dow Jones) is comprised of 30 large, established US companies, and the Dow actually eked out a small gain last week. By contrast, semiconductor stocks, so far the biggest beneficiaries of the AI trade over the last few years, got absolutely hammered:
This “flight to safety” pattern is common during periods of market volatility, and it’s possible we see this dynamic continue as we head into the midterm elections.
What Else
· The OKC Thunder defeated the San Antonio Spurs Tuesday night 116-104
· The Thunder play their home opener against the Denver Nuggets tonight at 8:30 PM
· OU plays Mississippi State this Saturday at 2:30 PM CT on the SEC Network
· OSU hosts Colorado for homecoming this Saturday at 6:00 PM CT on FS1
What’s Happening Downtown
Midtown Walkabout returns to Midtown this Saturday, October 24th. Midtown hosts Walkabout once every quarter and features free family-friendly activities, deals and specials from dozens of local restaurants and vendors, live music, a pop-up market along Walker Avenue, and a scavenger hunt (which your humble author won last fall, not to brag). Walkabout lasts from 11:00 AM to 5:00 PM, click below for a full list of deals and activities:
To read more from our blog, click here
Written by: Kane Ogle, CFP®
Steve Beck, Kane Ogle, CFP®, Amber Eduvigen, CFP®, Cale Olbert, CFP®, Brett Valentine, CFP®, Brandon Ingerson, Bill Daniel, Sam Postich, Jenni Hess, Hannah Hartman
[1] CBS