From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
Last weekend, we celebrated the Labor Day holiday while, statistically, the labor market has shown recent signs of slowing. Taken alongside the news that China is restricting the use of Apple iPhones for its governmental workers, all three major US stock market indices produced negative returns this past week (i.e., DJIA: -0.75%, S&P 500: -1.29%, Nasdaq: -1.89%). If, in fact, the economy appears to be weakening, the Federal Reserve may pause further rate hikes at its September 19-20 meeting with hopes of achieving a soft landing. Read Schwab’s “Piece of Work: Dissecting Labor Market Trends” below.
On a somewhat favorable note, the Argus Economic Commentary conclusion suggests that the market may have a little more to run this year. And with analysts forecasting 12% growth in S&P 500 earnings per share in 2024, it may come true, although the S&P 500 still trades today at a lofty 19.7X current earnings. Stay tuned cause we are entering the tumultuous time of the year—for both hurricanes and the US stock market!
Below are links to a number of third-party research reports that we have read and analyzed over the past week. We hope you will find the information interesting, useful, and worthwhile.
Schwab:
Argus:
Goldman Sachs:
Alta:
James Investment Research:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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