From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HEALTHY!
All three major US stock market indices had a rocky ride to the downside this past week (DJIA: -4.44%, S&P 500: -4.55%, Nasdaq: -4.71%), especially on Friday. You may have heard that Silicon Valley Bank announced its failure on Friday, making it the second largest bank in US history (behind 2008’s Washington Mutual) to fail. The only seemingly good economic news for the week was the cooling job market. The unemployment rate ticked up slightly, and wages grew at a slower pace. This means the Federal Reserve may increase interest rates modestly at its March 22nd meeting. For more insight on this and other matters, click the Vanguard’s March Market Perspectives link below.
Meanwhile, one possible salvation for the world could be the opening of China’s economy. The US dollar apparently peaking in late 2022 bodes well for emerging market economies and companies that do business across the globe. The J.P. Morgan Asset Management research piece provides some interesting thoughts 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.
Vanguard:
J.P. Morgan Asset Management:
Schwab:
Goldman Sachs:
Capital Group:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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