Insights

Most markets were closed last Friday in observance of Juneteenth National Independence Day. Wall Street rallied last week as investors displayed optimism over the signing of an initial agreement ending hostilities in the Middle East.

For many Americans approaching retirement, Social Security represents one of the largest sources of lifetime income they will receive. Yet when couples begin planning their retirement strategy, many focus almost entirely on their own retirement benefit and overlook the rules surrounding spousal and survivor benefits. That oversight can be costly.

SpaceX’s IPO is less about SpaceX itself and more about the valuations facing the next wave of major private-company listings. The company may prove exceptional, but at a $1.77 trillion IPO valuation, investors are already paying for a great deal of future success that remains unknowable today.

Wall Street began last week with a heavy sell-off as investors appeared anxious about the U.S.-Iran war, elevated inflation, and fears of a potential tech correction. However, stocks staged a massive turnaround midweek, driven by easing tensions in the Middle East and the largest initial public offering in U.S. financial history. Consumer staples and real estate led the market sectors, while information technology and communication services lagged.

Federal employees have access to one of the best retirement packages in the country. Between a guaranteed pension, generous TSP matching, lifelong health coverage, and Social Security, it's an enviable foundation. And yet, a surprising number of federal employees arrive at retirement with less security than they could have had, not because of bad luck, but because of avoidable mistakes made years or decades earlier.

For much of last week, stocks continued a rally that appeared headed for another week of gains. However, investors, who had been clinging to the prospect of monetary easing, had those hopes all but dashed after a better-than-expected jobs report (see below) doused any hopes of an interest rate reduction in the immediate future.

Most people think of Medicare and Social Security as two separate programs that happen to arrive at roughly the same stage of life. In practice, they are quite connected. The decisions you make about one will directly affect how you experience the other. Here is what that relationship actually looks like and why understanding it before you retire is worth your time.

Wall Street ended the week with broad gains, record-setting index performances, and a notable shift toward broader market participation beyond tech and AI shares.