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Tag: S&P 500
Last week, solid job numbers were a case of good news is bad news for the markets, with the S&P 500 declining by (1.94%). Job creation and openings support economic growth but can prompt the Federal Reserve (Fed) to maintain higher rates for longer to fulfill its dual mandate of maximum employment and price stability. As long-term investors, we prefer a strong jobs market and cautious Fed over a weak jobs market and easy Fed policy. The latter is usually in response to a poor economy ...
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Weekly Market Update – 1.6.2025
Last week, we closed out 2024 with a bang and rang in the New Year. The S&P 500 declined -0.45% for the week but rose 23% over the year and hit 57 new all-time highs. The Magnificent 7 and technology indexes have outperformed the S&P 500 for two consecutive years. Prudent rebalancing can reduce concentrated tech stock holdings or overweight tech sector allocations. Unify Financial Advisors rebalances portfolios as part of our investment management ...
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Weekly Market Update – 12.16.2024
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 – 12.02.2024
Last week, investors had plenty to be thankful for, with the S&P 500 setting record highs and gaining 1.08%. Gross Domestic Product estimates, Personal Consumption Expenditures, and lower treasury yields helped drive stocks to record highs. Online Black Friday sales hit records in the US as people spent $10.8 billion or $11.3 million online every minute from 10 a.m. to 2 p.m.
We kick off December this week, hoping to continue the Santa Claus rally. Investors will ...
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Weekly Market Update – 11.25.2024
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 – 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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