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Stocks finished last week modestly lower. However, performance across the major U.S. averages significantly masks the rollercoaster ride equities traveled following last Wednesday’s Federal Reserve meeting. The S&P 500^® Index ended lower by 0.2% for the week, while the NASDAQ Composite finished off 1.5%. The S&P 500’s current five-week losing streak is a first since 2011, and for the NASDAQ, its five-week slide marks the most consecutive down weeks since 2012. In fact, the NASDAQ Composite has lost at least 1.0% over the last five weeks — the first time that’s happened since 2002. Notably, the S&P 500 has returned to levels last seen in May 2021.

We’re sure you assumed this already, but just in case you weren’t aware, stocks are off to their worst start in decades. According to Dow Jones Market Data, the roughly 13% decline in the S&P 500^® index through the first four months of the year is the Index’s worst start since 1939, while the 21% decline in the NASDAQ Composite this year is its weakest start ever.

MINNEAPOLIS – April 28, 2022 – Ameriprise Financial, Inc. (NYSE: AMP) today announced that investment adviser Dr. Marvin Appel recently sold his RIA to the Long Island division of Siena Wealth Advisory Group, a well-established team in Ameriprise’s branch channel led by Private Wealth Advisors Matthew Mandell, CFP^®, CRPC^®, and Brian White, CFP^®, CRPC^®. Appel’s team, called Signalert Asset Management, LLC, manages $265 million in assets in Great Neck, New York. He chose to sell the practice to Ameriprise as part of his plan for a smooth transition to retirement. Appel will join Siena Wealth for one year – an arrangement that allows him to continue to serve clients and facilitate a smooth transition to a team that shares his passion for exceptional service.