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Retirement Ready Advisers
Retirement Ready Advisers
http://www.erikssherman.com 305-579-4026 erik@rradvisers.com

Erik Sherman, AIF

Mobile: 786-423-2899

E-mail: Erik@rradvisers.com

Erik S. Sherman began his financial services career in 2002 when he joined the
John Hancock Financial Network – South Florida Group. In that same year, he was
named Rookie of the Year in his office and every year since then held the top
rankings locally and nationally when he joined John Hancock Financial Network
President’s Roundtable in 2010.

With a mission to provide tailored, flexible strategies towards protecting and
growing wealth for his clients, he believes a team-based approach encourages
clients to integrate relationships with other important advisers including
trustees, attorneys, and accountants to help ensure a comprehensive view of
appropriate financial solutions. Erik’s experience encompasses a wide variety of
insurance, investment advisory services, retirement benefits and estate planning
strategies. Just as important, his success comes from an unwavering commitment
to client service excellence, dedication to family and giving back to the
community.

Qualifications

 * BS, Accounting & Marketing, Lehigh University, Bethlehem, Pennsylvania,
   graduated with honors
 * FINRA – Series 63, 65 and 6 registrations
 * Life insurance, disability income insurance, long-term care insurance and
   health insurance licenses

Awards & Leadership Positions

 * Featured Presenter, John Hancock Financial Network, Practice Advancement
   Conference 2013
 * Threw out first pitch of Boston Red Sox game, 2011
 * Achieving Client Excellence Award – Signator Investors, Inc., 2002 to present
 * Board of Directors, the Cancer Support Community, 2004 to present
   Serving state employees in Miami-Dade County in understanding the Florida
   Retirement System, 2004 to present
 * Member, Business Network International Miami, 2002 to present




MONTHLY MARKET INSIGHTS | FEBRUARY 2022


U.S. MARKETS

Rising yields, elevated inflation, and a hawkish-sounding Fed took turns
rattling the stock market in January, with technology-heavy Nasdaq particularly
hard hit.

The Dow Jones Industrial Average dropped 3.32 percent, while the Standard &
Poor’s 500 Index fell 5.26 percent. The Nasdaq lost 8.98 percent.1

What lies behind us and what lies before us are tiny matters compared to what
lies within us.

Ralph Waldo Emerson, American essayist and poet


FEAR OF THE FED

Anxiety about the Federal Reserve’s pivot from its accommodative monetary policy
toward monetary normalization hung over the market all month.

Early in the month, the Fed released the minutes from its December meeting,
which suggested a more hawkish tone than what investors were expecting.

Inside the Fed minutes, the first update that unsettled markets was the
likelihood of an interest rate increase in March, which would be sooner than
many had expected. The second update that upset investors was news that the Fed
was considering reducing its balance sheet, a step toward tightening that had
not been widely anticipated.


MORE FROM THE FED

Following its January meeting, Fed Chair Powell indicated that reducing the
balance sheet might come at a faster pace than the balance sheet reductions in
2014 and 2018.

Bond yields trended higher in response to Powell’s news. Higher yields hurt
technology and other high-valuation companies the most.


ECONOMIC RECOVERY

Amid the stock market turbulence, the underlying fundamentals showed a solid
economic recovery. Unemployment fell, housing was strong, and fourth-quarter
Gross Domestic Product rose beyond consensus expectations. But hot inflation
tempered enthusiasm.


EARNINGS UNDERWAY

A strong start to the fourth quarter earnings season caught investor's
attention. Of the 33 percent of the companies comprising the S&P 500 Index that
reported by month’s end, 77 percent reported earnings above Wall Street
estimates. While the total “beat” percentage was higher than average, the amount
by which earnings actually beat analysts’ estimates was by a narrower margin.2

Stocks rallied sharply in the final two sessions, taking the edge off an
otherwise challenging month for investors.


SECTOR SCORECARD

Except for Energy (+17.07 percent), all industry sectors closed the month with
losses, including Communications Services (-8.27 percent), Consumer
Discretionary (-13.23 percent), Consumer Staples (-1.05 percent), Financials
(-1.33 percent), Health Care (-7.07 percent), Industrials (-5.54 percent),
Materials (-7.70 percent), Real Estate (-8.48 percent), Technology (-10.09
percent), and Utilities (-3.86 percent).3

U.S. Market Recap for January 2022

S&P 500 -5.26 Month (%) ‌ -5.26 Year-to-Date (%)

Nasdaq -8.98 Month (%) ‌ -8.98 Year-to-Date (%)

Russell 1000 -5.72 Month (%) ‌ -5.72 Year-to-Date (%)

10-Year Treasury 1.78 Month (%) ‌ 0.27 Year-to-Date (%)

Yahoo Finance, January 31, 2022. The market indexes discussed are unmanaged and
generally considered representative of their respective markets. Individuals
cannot directly invest in unmanaged indexes. Past performance does not guarantee
future results. U.S. Treasury Notes are guaranteed by the federal government as
to the timely payment of principal and interest. However, if you sell a Treasury
Note prior to maturity, it may be worth more or less than the original price
paid.


WHAT INVESTORS MAY BE TALKING ABOUT IN FEBRUARY

With the fourth quarter earnings season well underway, investors will continue
to focus on earnings reports throughout the month. Expect investors to continue
to focus on quarterly reports from high-valuation growth companies.

Earnings from such companies may have a high bar to clear with investors amid
expectations for a continued climb in bond yields.

As investors saw in January, these high-multiple stocks can come under pressure
as bond yields trend higher. The reason for this is twofold. First, when rates
tick up, it’s more difficult to forecast future earnings. Second, higher rates
may increase a firm’s cost of capital.


WORLD MARKETS

Overseas markets fell in tandem with the U.S., as the MSCI-EAFE Index sank 5.76
percent in January.4

Major European markets were broadly lower, with losses in Germany (-2.60
percent) and France (-2.15 percent). The U.K. was the only major European
exchange that saw a gain (+1.08 percent).5

Pacific Rim markets were mostly down as well. Australia lost 6.35 percent and
Japan dropped 6.22 percent. Hong Kong bucked the trend, gaining 1.73 percent.6

World Market Recap for January 2022 Emerging Markets January (%) Year-to-Date
(%) Hang Seng (China) 1.73 1.73 KOSPI (Korea) -10.56 -10.56 Nikkei (Japan) -6.22
-6.22 Sensex (India) -0.41 -0.41 Jakarta Composite (Indonesia) 0.75 0.75 Bovespa
(Brazil) 7.22 7.22 IPC All-Share (Mexico) -3.64 -3.64 MERVAL (Argentina) 8.87
8.87 ASX 200 (Australia) -6.35 -6.35 Europe     DAX (Germany) -2.60 -2.60 CAC 40
(France) -2.15 -2.15 Dow Jones Russia Index (Russia) -10.06 -10.06 FTSE 100
(United Kingdom) 1.08 1.08 Yahoo Finance, January 31, 2022. The market indexes
discussed are unmanaged and generally considered representative of their
respective markets. Individuals cannot directly invest in unmanaged indexes.
Past performance does not guarantee future results. International investments
carry additional risks, which include differences in financial reporting
standards, currency exchange rates, political risks unique to a specific
country, foreign taxes and regulations, and the potential for illiquid markets.
These factors may result in greater share price volatility.


INDICATORS


GROSS DOMESTIC PRODUCT (GDP)

The rate of economic expansion in the fourth quarter exceeded economists’
expectations, rising 6.9 percent—triple the growth rate of the third quarter.
While the headline number was strong, two concerns emerged: Much of the growth
was due to inventory build-up, and the price index for personal consumption
expenditures (an inflation measure) accelerated from the third quarter, climbing
6.5 percent.7


EMPLOYMENT

Hiring slowed in December, with employers adding just 199,000 jobs—well below
consensus estimates. The unemployment rate dropped to 3.9 percent, while wage
growth rose 4.7 percent from a year ago, signaling a tight labor market. The
December jobs report reflects data prior to the start of the Omicron variant
spread in late December.8


RETAIL SALES

Retail sales declined by 1.9 percent. The spread of Omicron and early consumer
holiday buying in response to possible inventory shortages dampened spending in
December.9


INDUSTRIAL PRODUCTION

Industrial production contracted 0.1 percent. This dip was attributed to a
decline in auto production and a drop in utility output due to warmer weather.10


HOUSING

Housing starts rose by 1.9 percent in the final month of 2021, helped by the
warmest December on record. This increase occurred despite rising lumber prices
and higher mortgage rates.11

Existing home sales slipped 4.6 percent, hampered by a higher year-over-year
median sales price (+15.8 percent) and tight inventory.12

New home sales surged by 11.9 percent. With new homes, higher mortgage rates did
not discourage buyers.13


CONSUMER PRICE INDEX (CPI)

Consumer prices rose 0.5 percent in December, with inflation climbing 7.0
percent from a year ago. This year-over-year increase was the highest since
1982.14


DURABLE GOODS ORDERS

Durable goods orders declined 0.9 percent to their lowest level since April
2020, reflecting the impact of the Omicron surge.15


THE FED

The Federal Open Market Committee (FOMC) at its January meeting left rates
unchanged, though officials signaled that rates would likely be raised at its
next meeting in March.

The Fed also approved one last round of bond purchases, bringing quantitative
easing to an end by March.

The FOMC did not offer details on its plan to shrink the Fed’s balance sheet.
But Fed Chair Powell indicated that shrinking the Fed’s asset holdings may occur
at a faster rate than in past periods of balance sheet reductions.16


BY THE NUMBERS: VALENTINE'S DAY


$23.9 BILLION17

Total Valentine’s Day spending projected for 2022


53118

Types of Valentine's Day greeting cards offered by Hallmark in 2021


26 PERCENT18

Share of marriages that began online


$2.3 BILLION18

Amount spent on Valentine's Day gift cards


$175.4118

Average amount spent per adult on Valentine's Day


$2.2 BILLION18

Amount celebrators plan to spend on candy for a loved one


$6.2 BILLION18

Amount celebrators plan to spend on jewelry for a loved one


$2.3 BILLION18

Amount celebrators plan to spend on flowers for a loved one


9 MILLION18

Average number of marriage proposals made on Valentine's Day


43 MILLION18

Projected number of Americans who will receive an unwanted Valentine’s gift this
year

--------------------------------------------------------------------------------

 

The content is developed from sources believed to be providing accurate
information. The information in this material is not intended as tax or legal
advice. Please consult legal or tax professionals for specific information
regarding your individual situation. This material was developed and produced by
FMG Suite to provide information on a topic that may be of interest. FMG Suite,
LLC, is not affiliated with the named representative, broker-dealer, or state-
or SEC-registered investment advisory firm. The opinions expressed and material
provided are for general information and should not be considered a solicitation
for the purchase or sale of any security.

Investing involves risks, and investment decisions should be based on your own
goals, time horizon and tolerance for risk. The return and principal value of
investments will fluctuate as market conditions change. When sold, investments
may be worth more or less than their original cost.

Any companies mentioned are for illustrative purposes only. It should not be
considered a solicitation for the purchase or sale of the securities. Any
investment should be consistent with your objectives, timeframe, and risk
tolerance.

The forecasts or forward-looking statements are based on assumptions, subject to
revision without notice, and may not materialize.

The market indexes discussed are unmanaged and generally considered
representative of their respective markets. Individuals cannot directly invest
in unmanaged indexes. Past performance does not guarantee future results.

The Dow Jones Industrial Average is an unmanaged index that is generally
considered representative of large-capitalization companies on the U.S. stock
market. The S&P 500 Composite Index is an unmanaged group of securities
considered to be representative of the stock market in general. The Nasdaq
Composite is an index of the common stocks and similar securities listed on the
Nasdaq stock market and considered a broad indicator of the performance of
stocks of technology and growth companies. The Russell 1000 Index is an index
that measures the performance of the highest-ranking 1,000 stocks in the Russell
3000 Index, which is comprised of 3,000 of the largest U.S. stocks. The MSCI
EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves
as a benchmark for the performance in major international equity markets, as
represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia.
Index performance is not indicative of the past performance of a particular
investment. Past performance does not guarantee future results. Individuals
cannot invest directly in an index. The return and principal value of stock
prices will fluctuate as market conditions change. And shares, when sold, may be
worth more or less than their original cost.

International investments carry additional risks, which include differences in
financial reporting standards, currency exchange rates, political risks unique
to a specific country, foreign taxes and regulations, and the potential for
illiquid markets. These factors may result in greater share price volatility.

The Hang Seng Index is a benchmark index for the blue-chip stocks traded on the
Hong Kong Stock Exchange. The KOSPI is an index of all stocks traded on the
Korean Stock Exchange. The Nikkei 225 is a stock market index for the Tokyo
Stock Exchange. The SENSEX is a stock market index of 30 companies listed on the
Bombay Stock Exchange. The Jakarta Composite Index is an index of all stocks
that are traded on the Indonesia Stock Exchange. The Bovespa Index tracks 50
stocks traded on the Sao Paulo Stock, Mercantile, & Futures Exchange. The IPC
Index measures the companies listed on the Mexican Stock Exchange. The MERVAL
tracks the performance of large companies based in Argentina. The ASX 200 Index
is an index of stocks listed on the Australian Securities Exchange. The DAX is a
market index consisting of the 30 German companies trading on the Frankfurt
Stock Exchange. The CAC 40 is a benchmark for the 40 most significant companies
on the French Stock Market Exchange. The Dow Jones Russia Index measures the
performance of leading Russian Global Depositary Receipts (GDRs) that trade on
the London Stock Exchange. The FTSE 100 Index is an index of the 100 companies
with the highest market capitalization listed on the London Stock Exchange.

Please consult your financial professional for additional information.

Copyright 2022 FMG Suite.

1. WSJ.com, January 31, 2022

2. Insight.FactSet.com, January 28, 2022

3. SectorSpdr.com, January 31, 2022

4. MSCI.com, January 31, 2022

5. MSCI.com, January 31, 2022

6. MSCI.com, January 31, 2022

7. WSJ.com, January 27, 2022

8. WSJ.com, January 7, 2022

9. WSJ.com, January 14, 2022

10. MarketWatch.com, January 14, 2022

11. CNBC.com, January 19, 2022

12. CNBC.com, January 20, 2022

13. USNews.com, January 26, 2022

14. WSJ.com, January 12, 2022

15. CNBC.com, January 27, 2022

16. WSJ.com, January 26, 2022

17. Wallethub.com, February 1, 2022

18. Wallethub.com, February 1, 2022

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The content is developed from sources believed to be providing accurate
information. The information in this material is not intended as tax or legal
advice. Please consult legal or tax professionals for specific information
regarding your individual situation. Some of this material was developed and
produced by FMG Suite to provide information on a topic that may be of interest.
FMG Suite is not affiliated with the named representative, broker - dealer,
state - or SEC - registered investment advisory firm. The opinions expressed and
material provided are for general information, and should not be considered a
solicitation for the purchase or sale of any security.

We take protecting your data and privacy very seriously. As of January 1, 2020
the California Consumer Privacy Act (CCPA) suggests the following link as an
extra measure to safeguard your data: Do not sell my personal information.

Copyright 2022 FMG Suite.

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Associates, Inc. (RAA), Member FINRA/SIPC. Royal Alliance Associates, Inc. is
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