July 2024 - Unify Financial Advisors
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Month: July 2024

Weekly Market Update – 7.29.2024

Unify Financial Advisors Market Week Update Last week’s economic reports painted a strong economy with tamed inflationary pressures. The second-quarter GDP grew at 2.8%, compared to 1.9% expected. An increase in business inventories and auto sales primarily drove the upside surprise. The personal consumption expenditures price index (PCE), a measure of inflation preferred by the Federal Reserve, shows that PCE inflation fell to 2.5% year-over-year in June. ...
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Weekly Market Update – 7.22.2024

Stocks started in rally mode last week, with the S&P 500 and Dow setting record highs. However, the S&P 500 and tech stocks retreated on concerns about future tariffs and export restrictions to China. Money rotated out of the Magnificent 7 into small-cap and defensive stocks.  CrowdStrike, a large cybersecurity company, applied a software update Friday morning while most of us slept. The update caused outages for Microsoft Windows users, wreaking havoc on large airlines, ...
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Weekly Market Update – 7.15.2024

Unify Financial Advisors Weekly Market Update Last week, following the lower-than-expected June CPI release, yields dropped across the curve, driving bond prices up 0.82%. Bond prices and yields have an inverse relationship; as prices rise, yields fall.   Second quarter corporate earnings came in mixed. PepsiCo and JP Morgan rallied into Friday’s close, while Delta and Wells Fargo declined. Banks’ net interest income is under pressure as customers demand higher ...
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Weekly Market Update – 7.8.2024

Following the July 4th holiday, the Employment Report indicated a strong but cooling labor market. After the report, the probability of a 0.25% rate cut in September increased to 75%. The prospects of lower interest rates pushed the S&P 500 and Nasdaq to close at all-time highs, up 17.57% and 22.73% YTD, respectively. This week, Delta (DAL), Pepsi (PEP), and big banks JP Morgan (JPM), Citi (C), and Wells Fargo (WFC) kick off the second quarter corporate earnings season. The S&P ...
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Weekly Market Update – 7.1.2024

Last week, as expected, May’s headline PCE Index was up 0.1% from the previous month and 2.6% over 12 months, not far from the Fed’s 2% target rate. There is still a nearly 60% probability of a 0.25% rate cut in September.  Sales of new single-family homes in May fell by 11.3%. The median sales price of new houses sold was $417,400, the lowest median price in the past 12 months and below the peak median price of $440,900 set in May 2023. May’s PCE Index ...
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    1465 S Fort Harrison Ave.
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