Playback Recording - 2025 Guide To The Markets

1/30/25 - In our recent virtual event, Jack Manley, Executive Director & Global Market Strategist with J.P. Morgan Asset Management, summarized 2024 and provided an overview of current economic conditions and guidance for the year ahead, including insights on global growth, interest rates, inflation, and recession risks.

The U.S. economy demonstrated resiliency in 2024, delivering another strong year of performance. As we stated in last year's market outlook, we believed a recession was very unlikely, and our outlook has consistently been that a recession would not materialize, supported by the strength of the consumer and labor markets.

In our presentation, Jack mentions that if you are interested in understanding where this economy will go, it is worth understanding where the resiliency of 2024 came from. Consumer spending drives much of the Gross Domestic Product (GDP) growth in our country and consumption has been the steady source of growth these past few years. In order for consumption to be steady, the labor market needs to be strong or another way said, low unemployment.

Jack highlights that all consumers are navigating the high prices, elevated rates, geopolitical and domestic policy uncertainty. However, most consumers who want jobs have them and most consumers are confident that they will have their jobs in the future so they feel empowered to continue making purchases, hence driving the economy forward.

We encourage you to watch the replay of our timely and relevant Guide to the Markets presentation below to learn more and contact us with any questions.

J.P. Morgan, Jack Manley, Covenant Wealth Strategies and LPL Financial are separate entities.

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any economic forecasts set forth may not develop as predicted and are subject to change.