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Category: Financial News
Last week, stocks posted solid gains, rebounding from the prior week’s loss. US benchmarks climbed higher, with the S&P 500 gaining 1.72%. Existing October home sales rose 3.4% from the previous month. The median single-family home price was $412,000 in October, 4.1% above the October 2023 price of $396,000. Moderating home price inflation and lower mortgage rates are welcome signs for home buyers.
As we approach Thanksgiving, the holiday season brings increased travel ...
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Weekly Market Update – 11.18.2024
Last week, stocks shrugged off upbeat economic data from the October CPI and retail sales reports. Instead, the S&P 500 closed (2.05%) lower on hawkish comments from Fed Chair Jerome Powell and rising treasury yields. Probabilities for a 0.25% December rate cut swung wildly last week and currently stand at 62%.
This week, the focus is on the housing sector. The report on housing starts for October is out on Tuesday. In September, the number of housing starts and ...
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Weekly Market Update – 11.11.2024
Last week, investors reacted to the election results and the FOMC’s 0.25% rate cut, driving U.S. stocks to new record highs. The S&P 500 gained 4.69% on the week. ForecastEx contracts accurately predicted the outcome of the presidential election and various other races.
This week, we will get the latest inflation data for October, which includes the Consumer Price Index (CPI)and Producer Price Index (PPI). CPI is expected to remain unchanged ...
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Weekly Market Update 11.4.2024
Stocks kicked off November on a positive note after being spoked on Halloween. Thursday’s close saw equities lower for October, the first down month since April. The October Employment Report revealed nonfarm payrolls grew by only 12,000. The disruptive forces of hurricanes and the Boeing Labor strike are blamed for the weak employment data.
Earnings reports from major technology companies fell short of investors’ high expectations. However, Amazon’s ...
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Weekly Market Update – 10.28.2024
Last week, the S&P 500 finished down (0.96%), while the tech-heavy NASDAQ gained 0.16%. Ten-year treasury yields climbed, closing at 4.25%, driving borrowing rates on 30-year fixed mortgages up to 7.21%.
Through Friday, 37% of companies in the S&P 500 reported third-quarter earnings, with 75% beating estimates, in line with the 10-year average for this metric. Profits are broadening beyond the largest companies and analysts expect earning gains across all 11 S&P 500 sectors for ...
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Weekly Market Update – 10.21.2024
Last week’s mixed corporate earnings and strong retail sales drove the S&P 500 to another record close on Friday. Analysts expected year-over-year growth in Q3 earnings per share(EPS) for the S&P 500 of 1.9%. Information technology leads the way at 15%, with energy coming in last at -30%. Prudent portfolio rebalancing across sectors could position portfolios in 2025 to benefit from expected double-digit earnings growth in materials, industrials, and energy (JPM Weekly ...
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Weekly Market Update – 10.14.2024
On Friday, the S&P 500 notched its 45th all-time high this year, gaining 1.13% for the week. Inflation measured by the Consumer Price Index (CPI) reached its lowest level in three years, with year-over-year CPI at 2.4%. JP Morgan and Wells Fargo helped kick off Q3 corporate earnings season by beating their earnings estimates.
This week, earning seasons get into full swing, especially with Financials. Other notable non-financials reporting this ...
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Weekly Market Update – 10.7.2024
Stock and bond markets fluctuated last week due to heightened tensions in the Middle East, ongoing port strikes, and positive employment data. A strong employment report drove stocks higher on Friday, with the S&P 500 gaining 0.26% for the week, while bond prices declined by 1.24%.
The Consumer Price Index (CPI) report will be released this Thursday. The September Core CPI is anticipated to decrease by 0.10 from the previous month.
As Hurricane Milton ...
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Weekly Market Update – 9.30.2024
Last week, the S&P 500 posted record highs and gained 0.64%. Personal Consumption Expenditures(PCE) for August rose 2.2% from one year ago. With PCE being the Fed’s preferred inflation gauge, there is currently a 100% probability of at least a 0.25% rate cut on November 7.
I was recently asked how stocks can set record highs in the face of political uncertainty and wars. In short, the Fed has more influence over the current US economy than elections and ...
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Weekly Market Update – 9.23.2024
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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