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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 – 1.2.2024

Last week, US stock markets posted gains for the ninth consecutive week, capping off an impressive year for stocks and bonds. The S&P 500 finished the year up 26.29%, just shy of its January 2022 record. The Dow Jones Industrial Average gained 16.18%, topping 37000 for the first time. Bond markets reversed their losses going into October and finished the year up 5.53%. The 2023 stock and bond returns defied the doom and gloom many anticipated at the beginning of the year. Disciplined ...

Weekly Market Update – 12.25.23

Christmas came early for stock and bond investors this year. Last week, US stocks posted gains for the 8th consecutive week, a cumulative gain of 14.93% over these eight weeks. Also, consumer confidence rose, initial jobless claims were slightly below expectations, and both Personal Consumption Expenditures (PCE) and Core PCE for November fell short of forecasts. PCE decreased by 0.01% month-over-month and is up 2.6% from November last year. As a result of the lower inflation data, economist ...

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 ...

Weekly Market Update – 12.11.2023

Last week, US stocks added to their gains, with small-cap stocks leading the way. The Russell 2000, which represents smaller US companies, was up 1% last week and 5.10% for the year. In comparison, the S&P 500 returned 0.24% last week and 21.81% for the year. Small-cap stocks tend to outperform large-cap stocks in bull markets, during economic recoveries, and amidst accommodative monetary policies such as lower interest rates. Last week’s job data indicated a tighter labor market, ...

Weekly Market Update – 12.4.2023

Last week, bulls pushed the U.S. market near its 2023 peaks, with the S&P 500 and the Dow Jones 30 gaining 0.83% and 2.60%, respectively. Bonds also rallied as yields fell, with the U.S. Aggregate Bond Index gaining 2.04%. After five consecutive winning weeks, the broader U.S. market started Monday about 4% below all-time highs amid abundant hope for interest rate cuts by mid-2024. Attention is now turning to crucial jobs data this week. The October Job Openings and Labor Turnover ...

Weekly Market Update – 11.27.2023

Last week, all major global stock indexes posted positive gains over four trading days, with the Dow Jones leading the way at 1.29 percent. Consumer sentiment rose to 61.3 but remains pessimistic. Minutes from the FOMC meeting in November supported the market’s expectations that the Federal Reserve is done raising rates. The Committee shifted to a cautious tone regarding rates, with all participants agreeing that they were in a position to proceed carefully. This week, new home sales ...

Weekly Market Update – 11.20.2023

Last week, the S&P 500 registered a 2.31% gain, marking a three-week upward trend in stocks. Interest rates fell in response to moderate inflation data and decreased consumer spending, signaling a promising yet cautious economic scenario. In its recent earnings report, Walmart beat expectations and shared insightful observations on inflation and consumer behavior during its earnings call. The company noted deflation in most grocery categories, excluding beef, dry, and canned goods, and ...

Weekly Market Update – 1.22.2024

Weekly Market Update – 1.16.2024

Weekly Market Update – 1.9.2024

Weekly Market Update – 1.2.2024

Weekly Market Update – 12.25.23

Weekly Market Update – 12.18.2023

Weekly Market Update – 12.11.2023

Weekly Market Update – 12.4.2023

Weekly Market Update – 11.27.2023

Weekly Market Update – 11.20.2023

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