David Bennett, Author at Unify Financial Advisors

Weekly Market Update – 8.12.2024

Last week, some investors and funds exposed their risk associated with leverage and currencies via carry trades. Some carry trade investors realized large losses, while most long-term prudent investors felt acute pain on Monday. Monday’s market volatility, measured by VIX, was the highest it had been seen since 2008. Fear of the systemic ripples from unwinding the carry trades contributed to Monday’s spike in the VIX premarket. The S&P 500 declined by only .02% for the ...

Weekly Market Update – 8.5.2024

Stocks finished last week in the red, with the S&P 500 declining 2.05%. The Fed held rates steady as expected and signaled that rate cuts are in the cards at their September meeting. With the recent market volatility, lower-than-expected hiring for June, and the unemployment rate at 4.3%, the probability of a 0.50% rate cut at their September meeting currently stands at 84%. June’s job numbers disappointed expectations, but hiring has reached average pre-pandemic levels, and the ...

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. ...

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, ...

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 ...

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 ...

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 ...

Weekly Market Update – 6.24.2024

Last week, stocks rallied but closed short of their all-time highs. May’s Retail Sales Report showed a 0.1% increase from the previous month, below the 0.3% expected. The category of sporting goods, hobby, musical instruments, and book stores saw the biggest m/m increase of 2.8%. In contrast, gasoline stations and furniture sales saw the largest decreases, 2.2% and 1.1% respectively. Look for summer-time discounts on home furniture and furnishings. This ...

Weekly Market Update – 6.17.2024

The major stock indices ended last week mixed, and bonds rallied. The S&P 500 and US Aggregate Bond Index gained 1.62% and 1.31%, respectively, while the Dow Jones 30 declined 0.95%. May’s headline Consumer Price Index(CPI) was flat from the previous month and up 3.3% from one year ago. The cooler CPI print drove longer-dated treasury yield down by approximately 20 basis points. We could expect mortgage rates to follow suit soon. This week is abbreviated as the ...

Weekly Market Update – 6.3.2024

Unify Financial Advisors Weekly Market Update Last week, we saw monthly gains in consumer confidence and the home price index of 4.6% and 0.3%, respectively. Nationwide home values increased 7.4% in the last 12 months ending in March. Consumer confidence reversed a two-month decline, but inflation worries of the surveyed participants persisted. Declines in revised GDP and Personal Consumption Expendituresgave mixed signals, but stocks declined, with the S&P 500 finishing the week ...

Blog

Author: David Bennett

Weekly Market Update – 8.12.2024

Weekly Market Update – 8.5.2024

Weekly Market Update – 7.29.2024

Weekly Market Update – 7.22.2024

Weekly Market Update – 7.15.2024

Weekly Market Update – 7.8.2024

Weekly Market Update – 7.1.2024

Weekly Market Update – 6.24.2024

Weekly Market Update – 6.17.2024

Weekly Market Update – 6.3.2024

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