From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HEALTHY!
US stock market indices incurred another down week (i.e., DJIA: -2.61%, S&P 500: -2.94%, Nasdaq: -3.89%) making it the third weekly loss for the S&P 500 and Nasdaq and the fourth for the DJIA. Interest rates continue to rise even though the economy seems to be slowing. As stated in our previous Weekly H&Cs, the labor market remains strong, forcing the Federal Reserve to combat what appears to be 1970’s-like wage-push inflation. Price-to-earnings ratios remain elevated at 17.5X on the S&P 500 albeit while corporations announce lower than expected earnings. The Fed has made it clear that interest rates may increase for a longer period. Take a look at the Fidelity’s Spring 2023 Investment Themes link below.
Unlike a year or so ago when you couldn’t earn anything on your cash, today the two-year US Treasury Note yields 4.803% and money market funds are yielding in the 4% range. This being the case, there isn’t much incentive to invest more in the stock market. Click the BlackRock link, “Seeking income and staying nimble,” below for more insight on this topic.
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.
Fidelity:
BlackRock:
J.P. Morgan Asset Management:
Capital Group:
Schwab:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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