From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
Coca Cola’s old slogan — “the pause that refreshes” — reminds us of the US stock market in August. US stock market indices produced a mixed bag of results last week (i.e., DJIA: +0.62%, S&P 500: -0.31%, Nasdaq: -1.90%). Inflation seems to be slowing its ascent but still rising, nonetheless, and nowhere near the Federal Reserve’s target of 2%. Prognosticators on interest rates expect the Fed to start cutting rates in 2024, but you better get good odds from your bookie, DraftKings or FanDuel if you place that bet! Click the Schwab Market Perspective “On the Line” link below for more thoughts.
A major concern has been the impact on the credit markets as the Federal Reserve has raised rates since March 2022. The consumer has spent down their cash reserves and increased credit card debt to a record greater than $1 trillion. Rates on those cards range from 13% to 21% or more. In addition, much has been ballyhooed about bank exposure to commercial real estate loans. Goldman Sachs takes a deep dive into this topic in their “Top of Mind” piece below.
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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