Q2 2026 Newsletter from Curry Webb

Greetings from Curry Webb Wealth Management!

We hope you and your family are doing well as we close out Q2 2026. Looking back on the first half of the year, we’re pleased to share a few important updates.

In investing, discipline matters. It also helps to recognize a good opportunity when you see one and be willing to change things up. This spring, we did just that by hosting our first IMS Client Appreciation Event. The response was outstanding, and attendance reached capacity. Needless to say, we’re already planning another IMS event for 2027. Be sure to keep an eye on your inbox for important announcements from CWWM, including event invitations.

We’d also like to recognize and thank our intern, Cole Smitley, for a job well done. Many of you have met Cole during meetings since he joined us in mid-May. Behind the scenes, he has likely helped prepare your meeting for your advisor—a task that requires careful attention to detail. He has quickly earned a great reputation with our team, and we’re grateful to have him with us through mid-August before he returns to Purdue University to begin his senior year. Cole has demonstrated not only the skills you’d expect from a Purdue business student, but also—if ther umors are true—the ability to hit a golf ball a mile. We’re confident both talents will serve him well in the years ahead.

Portfolio and Market Commentary

Q2 performance reports are now available in your eMoney Vault.

The second quarter delivered a strong performance in the U.S. equity market. Much of this performance can be attributed to a rebound from the S&P 500's 9% decline between the end of January and the end of March. This was driven in part by continued demand for semiconductors and cloud computing infrastructure, broad-based earnings growth across multiple sectors, and easing concerns in the Middle East, which also contributed to lower oil prices. Additionally, the Federal Reserve met market expectations by leaving the federal funds target rate unchanged, despite a modest increase in inflation.

The second quarter closed with the S&P 500 Growth Index up 21.9%, while international stocks, as represented by the MSCI EAFE Index, gained 14.7%. The MSCI Emerging Markets Index also performed well, advancing 24.1%. Real estate posted a positive quarter, with the Dow Jones U.S. Total Market Real Estate Index rising 8.5%. Bonds also generated positive returns, with the Bloomberg U.S. Aggregate Bond Index gaining 0.67%. Gold, as represented by the SPDR Gold Trust, declined 15.3%. The federal funds rate remained unchanged.

For most of June, Invesco maintained an overweight position in U.S. stocks within its models, generally reducing allocations to developed international and emerging markets. By the end of the quarter, market participation had broadened significantly. As of June 29, 493 companies in the S&P 500 Index had posted positive returns for the month of June, and the index was up more than 14% year to date. Source: Bloomberg LP and applicable index providers. Data as of June 30, 2026.

Looking ahead, market performance in the near term will likely continue to be influenced by developments in the Middle East. A meaningful de-escalation appears unlikely in the immediate future, and continued volatility in oil production and prices remains a distinct possibility. Over the longer term, however, ongoing investment in artificial intelligence infrastructure—including demand for semiconductors, expanding electricity needs, and the challenges associated with developing new data centers—should provide a supportive backdrop for economic growth and selected investment opportunities, although these trends are not without risk. We will continue to monitor economic data and market developments closely, making portfolio adjustments when appropriate to keep investments aligned with our clients' long-term objectives. As always, please don't hesitate to contact us with any questions or if you would like to discuss your portfolio in greater detail.

Important Disclosures

Curry Webb Wealth Management (“CWWM”) is a registered investment adviser. Registration with the U.S. Securities and Exchange Commission (SEC) does not imply a certain level of skill or training. This communication is provided for informational purposes only and does not constitute an offer or solicitation to buy or sell any securities or investment strategies. Any references to market performance are for informational purposes and based on publicly available data. Indices are unmanaged, not investable, and do not reflect the deduction of advisory fees, trading costs, or other expenses. Past performance is not indicative of future results. Investment returns and principal values will fluctuate. Actual client results may differ due to timing of investments, account restrictions, fees, and other variables. Curry Webb Wealth Management is independent of Charles Schwab, and no endorsement by Schwab is implied. Additional information about Curry Webb Wealth Management, including our advisory services, fees, and conflicts of interest, is available in our Form ADV Part 2A, which is available upon request or by visiting the SEC’s Investment Adviser Public Disclosure (IAPD) website.