Honoring Juneteenth: America’s Second Independence Day

Good morning and welcome to the One of a Kind Financial Show Daily. I'm Mike Milligan. It's Friday, June 19th, Juneteenth, America's second Independence Day. The markets are closed today, but the lessons from this week are wide open. We'll recap, we'll honor the day, and I'm going to share a personal countdown that starts very soon for me. Let's go.

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First, The date itself. Today is Juneteenth. The New York Stock Exchange is closed. The NASDAQ is closed. The US bond market is closed. That's per the Securities Industry and Financial Markets Association. Markets will reopen on Monday, June 22nd. Juneteenth has been a federal holiday since 2021, but the date it commemorates is much older. On June 19th, 1865, Major General Gordon Granger arrived in Galveston Bay, Texas, with 2,000 Union troops to announce that more than 250,000 enslaved Black people in that state were free. But here's the part that gets me every time I think about it. That was 2 and a half years after President Lincoln signed the Emancipation Proclamation on January 1st, 1863. 2 and a half years. That's why it's called America's Second Independence Day. The first one, July 4th, 1776, which we'll celebrate about 250 years of in the coming weeks, declared that all men are created equal. June 10th, Juneteenth, is the day that promise actually started reaching the people it was written for. So today, the markets stand down out of respect, and it's worth a moment of yours to reflect On that too.

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Now to the markets. What a week. Let me roll the tape. On Monday, Iran peace deal optimism. Dow reached record close of 51,671. S&P was up 1.65% and the NASDAQ was up 3.07%. Which was the best day since March. Tuesday, it was quiet ahead of the Fed markets open, the FOMC meeting that was held that day into Wednesday. The markets were steady, positioning everywhere. On Wednesday, it was Fed Day. Kevin Warsh's debut statement cut to 130 words, easing bias gone out of the statement. The dot, dot plot flipped. 9 of the 18 officials now expect a rate hike this year. The phrase that landed like Thor's hammer, the committee will deliver price stability, was issued by Chairman Walsh. The Dow dropped 507 points on Wednesday. The S&P was down 1.21%. The NASDAQ was down 1.34%. The worst reaction to a new Fed chair's first meeting since 1994. And then Thursday, yesterday, a real comeback. The Dow added 184 points to close at 51,677. S&P was up 0.91% to 7,487. The NASDAQ jumped 1.25% to 26,345. Initial jobs claims came in lower than expected. The economy is still humming. The U.S. and Iran formally signed the Middle East peace memorandum. Risk-on came back. The net for the week. Every major index finished higher, even after the Fed scare, but the underlying story changed. Poly market traders are now pricing in an 89% chance of 50 basis points or more in rate hikes By October 28th. That would be spooky before Halloween. The 10-year Treasury closed at 4.49%, but stocks shrugged it off for now. The real test comes next week.

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Now I'm going to get really personal with you for a minute to close out this week on the One of a Kind Financial Show Daily. Next week will mark a personal countdown for me. You'll hear it on this podcast, but I will start a countdown of 100 days till I turn 50 years old. 50, the big one, half a century. And I've been sitting with that, what 50 means, because for a lot of people, 50 is often when they start thinking about slowing down. They look backwards. They're counting what they didn't do. I'm doing the opposite. For me, 50 is the launchpad, not the landing. I've spent 25 years learning my craft as a certified financial planner, building One Oak Financial, writing books, podcasting, broadcasting, teaching. The next 25 years, that's when it compounds. That's when the relationships, the system, the voice, All of it pays off as I continue to come out of obscurity. So here's what I'm going to do over the next 100 days in that countdown. I'm going to publicly march to 50 out loud on LinkedIn, on Instagram, on YouTube, and here on this podcast. One lesson, one reflection, one moment from this journey, For every day between now and September 28th. Some days it'll be about money, some days about marriage, fitness, faith, fatherhood, fear. Some days it'll just be a moment I don't want to miss because that's the motto, never miss a moment. If you're listening and you've been following along, come with me. Follow Mike Milligan, CFP on LinkedIn. Follow @MikeMilliganLLC on Instagram and on YouTube, follow @one.oakradio. Tag a friend who's got milestones coming up because turning 50 isn't a finish line. It's the start of the most intentional decade of your life if you let it be.

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Now markets are closed. So here's your homework for the weekend. 3 questions to sit with. If the Fed actually hikes in October, does your financial plan still work? This is not a gut. We need to write down the plan on paper. If you can't answer that, that's the call to make Monday morning. Second thing to ask yourself, did this week rattle you? If yes, that diagnostic— that's diagnostic information. It means your portfolio's risk doesn't match your psychology. We can fix that. And number 3, what's your 100-day countdown? Mine is 50. Yours might be a wedding, a graduation, a retirement, a move, the birth of a grandchild, maybe the loss of 10 pounds. Pick one, mark it on your calendar. Do one intentional thing every single day toward it. That's the difference between drifting through life and designing it.

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And that's your Friday, June 19th edition of the One of a Kind Financial Show Daily. Honor Juneteenth, the day America's promise from the American Revolution Started catching up with people who lived here. Enjoy the long weekend and come back here Monday morning when the markets reopen and count down to— count down with me to 50. I'm Mike Milligan. Educate, coach, plan. I'll see you next time. This has been Mike Milligan for the One of a Kind Financial Show Daily. I am an investment advisory representative with Advisory Alpha LLC. Ideas by Mike, doing business as One Oak Financial, is an unaffiliated entity of Advisory Alpha LLC. This podcast is done for information purposes only. Please do not take this as recommendations for you in your personal life without first consulting with a financial pro or understanding the risk of the decision you are making. If you have questions, please reach out to me at oneoakfinancial.com. That's the number one oakfinancial.com or on my personal website, mikemilligan.com.

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