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Here’s what happened in the markets last week. The Core Personal Consumption Expenditures (PCE) for August fell below 4% for the first time in two years. Stocks initially responded positively to Friday’s report but retreated amidst looming threats of a US Government shutdown over the weekend. However, an impending shutdown was averted as the US House and Senate passed a spending bill just hours before the scheduled shutdown at 12:01 AM on Sunday. Stocks (S&P500) and bonds(US ...
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Weekly Market Update – 9.18.2023
Here’s what happened in the markets last week: Core CPI was slightly higher than expected, coming in at 0.30% month-over-month. This increase was driven primarily by a 10.6% surge in gasoline prices. The three-month annualized core CPI now stands at 2.4%, progressing towards the Fed’s long-run inflation objective of 2%. U.S. consumers continued to spend, as evidenced by stronger-than-expected retail sales growth of 0.60% month-over-month compared to an expected 0.20%. However, ...
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