From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
Do you know what a smidgen is? No, it’s not one of those scrabble words to get past your competition! It’s how much the three major US stock market indices decreased last week (i.e., DJIA: -0.02%, S&P 500: -0.13%, Nasdaq: -0.70%)! The only notable economic statistic potentially driving the markets was current Consumer Price Index data, which came in higher than expected. Hotter inflation further dampens the animal spirits for the Federal Reserve to start cutting interest rates. The Fed policy board meets this coming Wednesday, which could signal the timing of future interest rate cuts, if any. For more on this speculative road, click the Schwab Market Perspective “Under the Surface” link below.
In our past Weekly H&Cs, you have read about the omnipresent “Magnificent 7” stocks. They performed very well over the past year, rebounding from their 2022 depths. However, year-to-date the likes of Tesla, Apple and others of those ilk have given back some of their 2023 gains. Does that mean the end of this bull run? Not necessarily. Franklin Templeton’s “US equity opportunities beyond the Magnificent Seven” offers a different perspective. See below.
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.
Schwab:
Franklin Templeton:
Argus:
Capital Group:
J.P. Morgan Asset Management:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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