Unify Financial Advisors Weekly Market Update
Equities rallied as expectations grew for a potential Federal Reserve rate cut next month. After a few weeks of volatility, enthusiasm in the technology sector helped fuel a sharp rebound across major indexes. The S&P 500 ended the week up 3.73%.
Economic data released after the federal government’s reopening also provided clearer insight into the health of the economy. The Producer Price Index increased 0.3% in September. Retail and Food Services Sales rose 0.2% in September.
Weekly Outlook
This week, we anticipate the release of September data for the Personal Consumption Expenditures Price Index (PCE), which measures inflation across a broad range of consumer expenses and reflects shifts in consumer behavior. PCE is the Fed’s preferred inflation gauge, which could further support a December rate cut. As corporate earnings trickle in, we will watch for Salesforce’s report on Wednesday after the close.
For a more detailed analysis of last week’s markets and economic trends, check out the latest issue of Market Week.
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Wishing you and your family a warm, joyful, and restful Thanksgiving holiday. We are thankful for your trust and business! You are welcome to contact me directly with questions or comments.
Regards,
David Bennett