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Weekly Market Recap – January 29, 2024

The Markets (as of market close January 26, 2024) Stocks closed higher last week, with the S&P 500 and the Nasdaq reaching record highs. Investors spent most of the week parsing through corporate earnings results and important economic data. Among the market sectors, communication services and energy rose over 5.0%, while health care ended the week in the red. Ten-year Treasury yields ticked up marginally. Crude oil prices rose nearly 6.0% as production cuts have begun to drive prices higher. The dollar advanced, while gold prices fell 0.6%. Eye on the Week Ahead The Federal Open Market Committee meets this

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The Importance of Putting Barakah in Our Finances

The Importance of Putting Barakah in Our Finances

As we kick off the new year, let’s all remember the importance of putting barakah in our finances. Scholars say that barakah generally means increase, growth, and happiness. It’s the establishment of divine goodness in something. Its origins can’t be sensed by people, and it can’t be outwardly quantified either. Something with barakah in it is called “mubarak”– it has an unexplainable increase and benefit in it from God. Remember that God is the sole source of barakah in our lives, and He alone has the power to grant or withhold it. But barakah in anything, including our wealth, can change depending

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Why consolidating your investments makes financial sense

Why consolidating your investments makes financial sense

Dividing your money between different asset classes can help you reduce your risk and boost returns over time – this is called diversification.   You may also think it’s wise to spread your assets among investments at several different financial institutions. But it’s often better to stick to just one. Here’s why:  Consolidating your assets, however, doesn’t mean you should have them all in one portfolio or with one money manager. That’s why at Azzad we have over a dozen investment portfolios that are managed by 7 different investment management teams.   Schedule your free consultation to find out how consolidating your

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Bumpy road ahead?

Investors can always find a reason to sell. But long term, the market rewards those who stay patient. Third quarter market recap What happened: Every quarter this year has brought major events for investors to digest. The third quarter was no different. From a United States’ credit rating downgrade to higher energy prices, investors had a lot to digest. Ultimately, however, most asset classes did end the quarter lower. Rising interest rates were a main driver of the lackluster results across asset classes. Yes, but: Despite the market struggling thus far in the back half of the year, the broader

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