video1.0<iframe src="https://www.loom.com/embed/43585d4428804169a6a7076083b23279" frameborder="0" width="1920" height="1440" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>14401920Loomhttps://www.loom.com14401920https://cdn.loom.com/sessions/thumbnails/43585d4428804169a6a7076083b23279-e9faea7756e83db7.gif726.882Good afternoon, clients and friends. In this quarter three economic review for 2025, I discussed the resilience of U.S. equity markets, highlighting a 7.79% gain in the S&P 500 and a record high for the Dow Jones Industrial Average, which is up 9% year-to-date. I also covered the steady inflation rates and the Federal Reserve's recent decision to lower interest rates for the first time this year, which positively impacted market sentiment. As we look ahead, I encourage you to stay focused on your long-term investment goals and reach out with any questions or concerns. Thank you for your trust and loyalty, and I wish you all a happy and prosperous holiday season.