From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
Government shutdown potential, strikes, interest rates, and oil prices played havoc with the US stock market last week (i.e., DJIA: -1.34%, S&P 500: -0.74%, Nasdaq: +0.06%). In fact, these factors impacted the entire month of September (i.e., DJIA: -3.50%, S&P 500: -4.87%, Nasdaq: -5.81%), leading to the worst S&P 500 monthly performance since December 2022! For a historical perspective on the impact of government shutdowns, read the J.P. Morgan Asset Management piece below.
The US stock market has befuddled many analysts throughout 2023 as corporate earnings have stagnated or shrunk over three straight quarters. Yet the US stock market indices have gained 1.09% – 26.30% year-to-date. Projections of double-digit earnings growth on the S&P 500 next year must be supporting the trading range of 4,200 – 4,300. Time will tell if rising borrowing costs and higher energy prices slow the economy further. Click Northern Trust’s “Energy Prices Are Creating Discomfort” for more detail.
For those that may be interested, we have included a bonus article this week titled “10 Steps to Reduce Your Risk of Cyber Fraud.” Enjoy!
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.
J.P. Morgan Asset Management:
Northern Trust:
BlackRock:
Parnassus:
Argus:
Northern Trust:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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