From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
Posed with multiple perils, the US stock market indices incurred their worst weekly performance since March 2023 (DJIA: -1.89%, S&P 500: -2.93%, Nasdaq: -3.62%). Although the Federal Reserve decided not to raise the Fed Funds rate, their slogan of “higher rates for longer” propelled the 10-year US Treasury rate to a 16-year high of 4.5%. Couple that with WTI oil prices inching towards $100 per barrel, stubborn inflation, and labor strikes (UAW and Writers Guild of America), and there you have it. The “magnificent seven” stocks of AAPL, MSFT, AMZN, TSLA, META, NVDA, GOOGL, which have driven the US indices upward this year, haven’t been so magnificent recently. Argus’ Economic Commentary “The 2023 Rally Falters” synthesizes the current situation nicely.
Naturally, we must look forward. Feast your eyes on the commentaries written by J.P. Morgan Asset Management and Schwab. Their insights provide wisdom on financial expectations for the future.
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.
Argus:
J.P. Morgan Asset Management:
Schwab:
Northern Trust:
Capital Group:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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