From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
Interest rates have hit or exceeded 5% for US Treasuries spanning 6-month to 10-year maturities. This has struck investors’ nerves. All three major US stock market indices posted losses for the week (i.e., DJIA: -1.61%, S&P: 500 -2.40%, Nasdaq: -3.16%). While the S&P 500 and Nasdaq year-to-date returns are still holding on to gains, the DJIA closed Friday at -0.06% year-to-date!
In a speech this week, Fed chair Powell essentially indicated there would be no rate hike announced after the November 1st committee meeting. In support of the Fed’s fight against inflation, the size of near-term US Treasury auctions has grown while foreign demand seems to be shrinking from past buyers like China and Japan. On the flipside, the turmoil in the Middle East may support higher inflation through rising oil prices. Argus’ Market Outlook details the resiliency of the US economy and, potentially, the US stock market.
3Q2023 earnings announcements have proliferated over the airwaves the past couple of weeks. Every quarter, we go through this exercise only to come out scratching our heads. Is there an easier way to digest the information? Look at the J.P. Morgan Asset Management epistle, “Which measure of earnings should I look at?”
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:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
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