David Bennett, Author at Unify Financial Advisors

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 ...

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 ...

Weekly Market Update – 2.26.2024

Last week, Nvidia (NVDA) posted record profits, contributing to its stock and the broader stock market achieving record highs on Friday. The S&P 500 gained 1.68% for the week and 6.91% year-to-date. Far from being hype, Artificial Intelligence (AI) is poised to revolutionize business and our daily lives. By enhancing efficiency and productivity, AI technology promises transformative changes across industries. While optimism around AI remains high, mitigating AI technology risks is ...

Weekly Market Update – 2.19.2024

Last week, the Consumer Price Index (CPI) and Producer Price Index (PPI) both came in hotter than expected, with shelter costs being the primary contributor to the notable increase in January’s CPI report, accounting for two-thirds of the total increase. For commentary and a chart explaining how real wage growth has outpaced inflation since the start of 2023, please take a look at the attached Weekly Market Recap. Real wage growth should support consumer spending and the economy. ...

Weekly Market Update – 2.5.2024

Last week, the S&P 500 reached another all-time closing high, buoyed by positive corporate earnings and a strong Jobs Report. The Federal Open Market Committee (FOMC) held rates steady as expected. Stocks declined on Wednesday after Jerome Powell’s press conference but rebounded Thursday. Impressive earnings from Amazon and Meta rallied the S&P 500 to a record close of 4959 on Friday, up 4.06% year-to-date. This week’s economic data is relatively light. The January ...

Weekly Market Update – 1.29.2024

Last week, Netflix reported better-than-expected revenue and added 13.1 million users in the fourth quarter of 2023, surpassing expectations by over 50%. Their initiative to crack down on password sharing helped drive user growth. Conversely, Tesla’s earnings report disappointed investors, leading to a 12% drop in its stock value on Thursday. The advance estimate of the fourth quarter 2023 Real Gross Domestic Product (GDP) showed a 3.3% annualized increase. Notably, the Real US ...

Weekly Market Update – 1.22.2024

Last week, the December retail sales report showed strong consumer spending to finish 2023. Consumer sentiment soared this January to 78.8 from 69.7 in December. Optimism created from lower expected inflation and higher wages contributed to sentiment climbing a cumulative 29%, the largest two-month increase since 1991 as a recession ended. The S&P 500 hit an all-time high of 4840 on Friday, capping the week with a 1.19% gain. As we move into this week, the spotlight turns to the ...

Weekly Market Update – 1.16.2024

Last week, the Michigan Wolverines pounced on the Washington Huskies in the NCAA Football Championship. Their victory is analogous to how the shelter component dominated the warmer-than-expected inflation data in the December Consumer Price Index (CPI). The index component for shelter continued its rise, contributing to over half of the overall CPI increase. The owners’ equivalent rent of residences (OER) survey, which accounts for 75% of the shelter index, could overstate current ...

Weekly Market Update – 1.9.2024

Last week, positive jobs and wage data ended the nine-week rally for US equities, with the S&P 500 declining by 1.5%. A factor in the lower 3.7% unemployment rate and the creation of 216K new jobs in November was increased hiring in the government sector, which may not continue. Wages grew by 4.1% compared to last year, supporting US households but raising concerns about inflation, as higher wages can lead to increased costs, especially in the labor-intensive service sector. This week, ...

Weekly Market Update – 12.18.2023

Last week’s economic data and news were positively received. A cooler Producer Price Index (PPI), a dovish pivot by the Federal Open Market Committee (FOMC), and strong retail sales propelled stocks and bonds higher. The S&P 500 gained 2.53%, while bonds saw a 2.16% increase. November’s Core Consumer Price Index (CPI) was slightly higher at 0.3%, compared to 0.2% in October, excluding volatile food and energy prices. Shelter costs were the primary contributors to Core ...

Blog

Author: David Bennett

Weekly Market Update – 3.18.2024

Weekly Market Update – 3.11.2024

Weekly Market Update – 2.26.2024

Weekly Market Update – 2.19.2024

Weekly Market Update – 2.5.2024

Weekly Market Update – 1.29.2024

Weekly Market Update – 1.22.2024

Weekly Market Update – 1.16.2024

Weekly Market Update – 1.9.2024

Weekly Market Update – 12.18.2023

Get In Touch

Schedule a Complimentary Consultation With A Certified Financial Planner Today

Quick Links

Contact Us