2026 2nd Quarter Letter
Market Expectations in the Age of AI
Dear Clients,
As we move through the middle of 2026, many of you have asked similar questions:
"Should I be worried about everything happening in the world?"
"How is artificial intelligence affecting the economy?"
"Is now a good time to make changes to my investments?"
These are all reasonable questions. Here's a simple overview of what's happening and what we're watching.
Markets Continue to Look Ahead
While the daily news can make it seem like the world is full of uncertainty, the stock market often focuses more on a 12–24 month outlook rather than today's headlines. Although we've experienced periods of volatility this year, the economy has remained more resilient than many expected.
Interest Rates
Interest rates remain one of the biggest factors influencing financial markets. The Federal Reserve has made progress in bringing inflation closer to its long-term target. While inflation has not completely disappeared, it is significantly lower than it was just 1-2 years ago. For retirees, today's interest rate environment also continues to provide opportunities to earn meaningful income from conservative investments compared with several years ago.
Artificial Intelligence Continues to Grow
Artificial Intelligence remains one of the biggest drivers of investment and innovation around the world. Companies are investing billions of dollars into AI infrastructure, data centers, software, and automation. Just as the internet transformed businesses decades ago, AI has the potential to improve efficiency across many industries, including healthcare, manufacturing, finance, and transportation. We believe this is a long-term trend that will continue to develop over many years rather than just being a short-term investment theme.
Our Approach
Rather than reacting to every news story, our investment philosophy remains consistent:
Stay diversified.
Focus on long-term goals.
Steady plodding.
Make thoughtful adjustments when appropriate, but not emotional ones.
Markets will always experience periods of uncertainty. History reminds us that patient investors who remain disciplined are often rewarded over time.
We're Here for You
If you have questions about your portfolio, retirement income, required distributions, taxes, or simply want to discuss what you're seeing in the news, we'd be happy to talk with you.
Just reply to this email or call our office to schedule a conversation. Even if your question seems small, we're always glad to help you understand what's happening and how it may or may not affect your financial plan.
Thank you for your continued trust and confidence. It is a privilege to serve you and your family.
Sincerely,
Stephen W. Miller, CIMA®, CRPC®
Senior Wealth Advisor
James E. Miller, CFP®, CKA®
Senior Wealth Advisor
J. Parker Morris, CFP®
Wealth Advisor
Tucker N. Bryan, AAMS®
Associate Financial Planner
Miller Wealth Management is a team of EverSource Wealth Advisors, LLC, an SEC registered investment advisor.
Disclaimer: This material is provided for informational purposes only and is not intended as investment advice or a recommendation to buy or sell any security. The views expressed reflect current opinions as of the date of publication and are subject to change without notice. All investments involve risk, including the potential loss of principal. Past performance and historical market behavior are not indicative of future results. This information does not take into account your specific financial situation; please consult a qualified financial, tax, or legal professional before making any investment decisions.