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- Welcome to rate cutting week!All three major US stock market indices rebounded hard this week. Most of the hope hinges on the Federal Reserve meeting occurring September 17-18. At this juncture, it appears to be a coin flip whether the Fed will reduce the Fed Funds rate by 0.25% or 0.50%.
- Hello, volatilityLabor Day is behind us, which means we’re squarely in September. That’s certainly what the stock market reinforced with its performance last week! Historically, volatility rises in September and October, especially in presidential election years.
- The time has come!Friday, August 23rd was the day the stock and bond markets had been anticipating for over one year. Federal Reserve Chairman Jerome Powell announced “the time has come” to begin lowering the Fed Funds interest rate!
- Economic Data Spurs Market ReboundThe US stock market indices came roaring back from its debacle a couple weeks ago with all three posting solid gains. Inflation and retail sales data reinforced the probability of a September rate cut and fueled the week’s bull run.
- Nikkei plunge creates shockwaves at homeAll three major US stock market indices were down last week. More than likely, Monday’s 12.4% plunge in Japan’s Nikkei spurred shockwaves in the US.
- Unemployment rate spooks stock marketAt this juncture, there’s no question that the Federal Reserve’s eleven rate hikes from March 17, 2022 through July 26, 2023 have taken effect in slowing the US economy. Friday’s reported unemployment rate increased to 4.3%, causing interest rates on the 10-year US Treasury Note to plunge from 4.19% last week to 3.79%.
