Jason Katz, the Managing Director at Katz Wealth Management within UBS Financial Services, discusses his strategies for guiding clients through the current market climate, especially amid rising volatility due to tariff uncertainties.
Investors faced considerable fluctuations in the stock market this week, with the S&P 500, which serves as a broad indicator of equities, entering correction territory as market anxiety grew from President Trump’s persistent tariff initiatives against Canada and Mexico, along with a looming 200% alcohol tariff threat to the European Union.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 41488.19 | +674.62 | +1.65% |
| SP500 | S&P 500 | 5638.94 | +117.42 | +2.13% |
| I:COMP | NASDAQ COMPOSITE INDEX | 17754.08602 | +451.07 | +2.61% |
All three major U.S. indices recorded substantial gains on Friday, with the Dow Jones Industrial Average rising by 1.6%, while both the S&P 500 and the Nasdaq Composite increased by over 2%.
WHY SOME BUSINESS OWNERS ARE UNBOTHERED BY TRUMP’S TARIFFS
However, despite the gains on Friday, the Dow experienced a 3% decline for the week, and both the S&P 500 and Nasdaq Composite faced drops of more than 2%.
TRUMP THREATENS 200% TARIFF ON EU ALCOHOL
Meanwhile, gold prices surged past $3,000 per ounce for the first time before retracting as fears of a recession began to rise.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST – USD ACC | 275.23 | +0.15 | +0.05% |
Jason Katz, Managing Director at Katz Wealth Management at UBS Financial Services, recommends his clients remain patient and set aside their political opinions.
“Take a deep breath; this isn’t our first rodeo. Clients have been with me for five, ten, twenty, or even thirty years,” he shared with FOX Business. “If you’re diversified, it’s manageable—just look at your portfolio, your bonds, and your value stocks,” he advised, noting that an average 60/40 portfolio (60% stocks/40% bonds) remains positive for the year, with bonds appreciating approximately 1.5%.
“Recessions are typically triggered by external events rather than tariffs, and it’s too soon to consider using the term ‘recession,'” he pointed out. “I anticipate more pro-growth policies emerging in the latter half of the year,” he added.
THE CASE FOR $3,000 GOLD PRICES
President Donald Trump crosses the South Lawn en route to board Marine One at the White House on March 7, 2025, in Washington, D.C. (Kayla Bartkowski/Getty Images / Getty Images)
Recently, Trump responded to questions regarding the possibility of a recession.
“This is a phase of transition; what we are doing is significant. We are restoring wealth to America,” Trump told FOX Business’ Maria Bartiromo during ‘Sunday Morning Futures.’
Commerce Secretary Howard Lutnick defended Trump’s approaches aimed at achieving “fair and reciprocal trade” to revitalize sectors such as steel, aluminum, copper, automobiles, semiconductors, pharmaceuticals, and lumber, while dismissing recession discussions.
U.S. Commerce Secretary Howard Lutnick discusses reciprocal tariffs, trade deficits, American manufacturing, automobile production, and the macroeconomy in an extensive interview with FOX Business’ Maria Bartiromo.
“By the fourth quarter of 2025, the economy is going to be thriving,” he asserted during his conversation with Bartiromo.
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The Federal Reserve is set to announce its March interest rate decision on Wednesday. According to the CME’s FedWatch Tool, which monitors the likelihood of rate adjustments, 99% of market participants seem to expect rates to hold steady between 4.25% and 4.50%. The next potential rate cut could occur as soon as June, with another possible in July, the tool indicates.
