From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
For the most part, the US stock market indices have remained range bound the past two months. This past week reflected more of the same ho-hum results (i.e., DJIA: +0.12%, S&P 500: -0.16%, Nasdaq: -0.39%). Perhaps, anticipation that the Federal Reserve may pause interest rate hikes this week has the US stock market in a malaise? Nonetheless, the Fed’s mantra of “higher interest rates for longer” remains intact. Only rising oil prices could upset the apple cart on the inflation front. Capital Group’s epistle on this topic provides some interesting insight.
Although the US stock indices have recently stalled, the S&P 500 and Nasdaq respective year-to-date returns of +15.91% and +30.97% should produce some euphoric sensations! Embedded (aka non-transitory) inflation has enabled corporations to raise prices on goods and services and, thus, improve earnings. As we all know, the markets operate based on expectations of the future. Currently, the S&P 500 is trading at a price-to-earnings ratio of 19.93X trailing twelve months earnings. With corporate earnings expected to grow by 11.9% in 2024, we may better understand why the market is up so much year-to-date. Click the Zacks Earnings Trends link below for more information.
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.
Capital Group:
Zacks:
J.P. Morgan Asset Management:
Argus:
Northern Trust:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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