From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
Geopolitically, this past week was horrific with the attack on Israel by Hamas. Many individuals, ourselves included, have family or friends on the ground. Our prayers are with all those impacted by these tragic events.
The US stock market played a familiar tune but from a different section of the band as two of the three major indices posted gains (i.e., DJIA: +0.79%, S&P 500: +0.45%, Nasdaq: -0.18%). US Treasury rates increased this week as traders pondered the lack of demand. This could cause further contraction/slowing of the economy and allow the Federal Reserve to maintain the current Fed Fund rate again in November. Looking into the future, higher interest rates pose a major dilemma between fiscal austerity and higher inflation. Janus Henderson provides some context to this issue.
Meanwhile, the major banks kicked off 3Q2023 earnings announcements last week with JP Morgan, Wells Fargo, and Citigroup reporting. Out of the gate, those announcements came through nicely. How will the other S&P 500 sectors fare? Look at Schwab’s take on the topic in “The Earnings Recession Could End Soon. Now What?”
This week, we added a sixth article that might be of interest: T. Rowe’s “Why Holding Too Much Cash on the Sidelines Can Set You Back.”
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.
Janus Henderson:
Schwab:
Capital Group:
Argus:
PIMCO:
T. Rowe Price:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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