07/01/2026
Dear Beavers Wealth Management Family & Friends,
June saw strong market fundamentals once again in conflict with macroeconomic uncertainties, creating a choppy market.
While a durable peace plan with Iran is seemingly underway, investors have regarded the negotiations with caution, pricing in potential setbacks. Oil prices have fallen sharply, but further declines will likely hinge on a meaningful recovery in oil supply from the Persian Gulf.
The first meeting of the Federal Open Market Committee under new Federal Reserve Chairman Kevin Warsh saw the rate-setting group hold rates steady, seen as a renewed commitment to curbing creeping inflation. Earlier this year, rate cuts were anticipated. Now, rate hikes seem to be a distinct possibility. Treasury yields have largely tracked oil prices over the last few months but stayed elevated even as oil futures fell toward the end of the month.
Equity markets experienced a wave of rotation, with tech losses making way for gains in the financials, industrials, utilities and health care sectors. AI-related names gave back some of their gains on concerns over future AI spending, but optimism for tech among investors still endures with the sector up roughly 17% year-to-date.
For those looking to compare the rise of AI to the dotcom era, Raymond James CIO Larry Adam noted, “The momentum may rhyme, but the foundation is stronger, underscoring that today’s market leaders are supported by strong profitability, durable earnings growth, and better visibility than in prior periods, making this a fundamentally different backdrop than the speculative environment of the late 1990s.”
The bottom line
Although the economy is still deep in the fog of uncertainty regarding Iran and the consequences of those pressures on global energy markets, June's theme was resilience. Led by strong labor indicators and higher than expected earnings, US equities proved that even in the face of elevated oil prices and inflation, there is plenty of room for optimism.
We hope this update finds you well and if you have any questions, you will not hesitate to reach out at your earliest convenience.
Sincerely,
CHRISTOPHER BEAVERS, MBA, CRPC®, CPFA
Managing Director
Senior Vice President, Wealth Management
3230 Camp Bowie Blvd, Suite 400 | Fort Worth, TX 76107
T 817.720.1280 | D 817.720.1281 | F 833.281.8758
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