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Month: March 2024
Last week, the market appreciated Fed Chair Jerome Powell’s commentary and the FOMC projections on GDP, unemployment, PCE, and interest rates. The S&P 500 gained 2.31% and is up 10.12% year-to-date. Their revised dot plot showed three cuts expected this year and an increase in the fed participants’ agreement regarding these three cuts. However, participants slightly increased their rate projections for 2025 and 2026 compared to their December projections.
Nvidia ...
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Weekly Market Update – 3.18.2024
Last week, the market had mixed reactions to the inflation data. The Core Consumer Price Index (Core CPI) and Producer Price Index (PPI) for February exceeded expectations, registering at 0.4% and 0.6%, respectively, from the previous month. Over the past twelve months, Core CPI increased by 3.8%. The S&P 500 gained following Tuesday’s CPI data but sold off on Thursday after the hotter-than-expected PPI data, closing down -0.09% for the week.
The Federal Open Market Committee ...
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Weekly Market Update – 3.11.2024
Last week, I did not post a market update because I visited Nicaragua with my family. This experience left us with a deep appreciation for the Nicaraguans we met and a renewed awareness of the vast opportunities we are blessed with in the United States of America.
Turning to the US economy, we observed a decline in January job openings. February employment data showed that nonfarm payrolls increased by 275K, average hourly earnings slightly increased by 0.1%, and the unemployment rate rose ...
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