From the desks of Stanley Katz & Lauren Madera
STAY SAFE AND HEALTHY!
Talk about a roller coaster ride! This past week was a doozy with all three major US stock market indices closing down (i.e., DJIA: -2.46%, S&P 500: -3.28%, Nasdaq: -3.93%). In fact, the month of April posted its worst showing for the S&P 500 since March 2020 and the tech-heavy Nasdaq since October 2008! Surprisingly, 1Q2022 corporate earnings reports have been coming in “decent” and unemployment remains low. Nonetheless, the bugaboos of slowing/contracting GDP growth, higher inflation, and rising interest rates are still spooking the market. Those along with the anticipated Fed announcement to increase the Fed Funds rate by ½ point made for a volatile week in the US stock market. For more insight on this topic, click the Capital Group and Schwab commentaries below.
Lately, the drum beats have become louder about recession. As noted above, we had our first contracting GDP report. China’s COVID lockdown will, more than likely, elongate supply chain issues. And slowing retail sales are, perhaps, signals of stagnation. Yet, even with rising mortgage rates, housing continues to be on fire. The Northern Trust epistle below adds more intrigue to the puzzle. Click it!
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.
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
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