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Month: September 2024
Last week, the Fed made a big move by cutting the policy rate by 0.50%. The Federal Open Market Committee’s quarterly Summary of Economic Projections showed decreases in expected inflation and policy rate and an increase in unemployment compared to their June projection. Stocks rallied on the news, with the S&P 500 gaining 1.39%.
This week, stocks look to post a monthly gain in September for the first time since 2019. Friday, the Personal Consumption ...
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Weekly Market Update – 9.16.2024
Stocks bounced back, with the S&P 500 gaining 4.06% and the Tech Heavy NASDAQ gaining 5.98% for the week. Bonds also added value as rates decreased in anticipation of a Fed cut. The aggregate bond index (AGG) gained 5.68% for the year through Friday. Bonds are on pace for their first positive calendar year of returns since 2020.
This week’s focus is on the Fed, as a 0.50% rate cut seems appropriate. The probability of the FOMC cutting the Federal Funds Rate by ...
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Weekly Market Update – 9.9.2024
September got off to a rough start for Wall Street. The S&P 500 declined 4.22% last week on fears of a waning labor market from the fresh jobs data. The downward revisions to the June and July payrolls have investors on edge that the Fed might have waited too long to cut rates. There is a 100% probability of a 0.25% cut at the September 18th Fed meeting. A normalizing labor market, low inflation, and an accommodative Fed could help the Fed to navigate a “soft ...
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Driving Change
Understanding market trends can help you make more informed financial decisions
With Labor Day behind us, the end of summer vacation time has officially arrived. Children have gone back to school and routines are shifting back to work mode, with the autumnal equinox just around the corner.
As we make this transition, you may have noticed that fewer young people are getting their driving licenses—a shift that is influencing their spending and lifestyle preferences. The increasing ...
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Weekly Market Update – 9.3.2024
The S&P 500 posted gains for the third consecutive week, helped by positive GDP revisions and tamed inflation(PCE). Nvidia(NVDA) beat earnings estimates but experienced margin contraction partly due to production issues with its next-generation Blackwell chips. Thursday, NVDA shares declined 6.4%, highlighting that high expectations for future profits leave little margin for error.
Today, ISM’s purchasing manager’s index(PMI) for August came in ...
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