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Tag: Consumer Price Index
Last week, warm November inflation readings for CPI and PPI put downward pressure on stocks and bonds, with the S&P 500 declining 0.61% and longer-term yields increasing 0.25%. Rent inflation has been stubborn since the pandemic, but last week’s underlying data for rents showed their weakest pace in over three years, suggesting further progress on inflation.
Investors will focus on retail sales and the FOMC rate decision this week. The CME ...
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Weekly Market Update – 12.9.2024
Last week, consumer discretionary, communication services, and information technology stocks saw gains, which were tempered by declines in energy, utilities, real estate, and materials. The S&P 500 gained 0.99%, and the Russell 1000 growth gained 3.64%.
Friday’s labor report showed strong November hiring and upward revisions for September. The strong hiring and an increase in the employment rate from 4.1% to 4.2% should keep the Fed on course to cut rates by 0.25% on ...
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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 – 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 – 9.9.2024
September got off to a rough start for Wall Street. The S&P 500 declined 4.22% last week on fears of a waning labor market from the fresh jobs data. The downward revisions to the June and July payrolls have investors on edge that the Fed might have waited too long to cut rates. There is a 100% probability of a 0.25% cut at the September 18th Fed meeting. A normalizing labor market, low inflation, and an accommodative Fed could help the Fed to navigate a “soft ...
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Weekly Market Update – 8.19.2024
Last week, investors embraced positive economic data. July’s CPI was 2.9% compared to one year ago. Following the upbeat CPI report, the probability of the Fed cutting rates at their September meeting remained 100%. Strong retail sales and lower initial Jobless claims comforted investors after the disappointing jobs reported two weeks ago. Stocks posted their best week of the year, with the S&P 500 gaining 3.99%.
The real estate sector ...
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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 ...
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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 ...
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