From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
It was a volatile path for all three major US stock market indices, although they finished the week in the green (i.e., DJIA: +0.67%, S&P 500: +2.67%, Nasdaq: +4.23%). Thursday’s announcement of hotter-than-expected Personal Consumption Expenditure (aka PCE) rattled the stock market and propelled the DJIA down 375 points. At one moment during the day, the DJIA had plunged approximately 700 points! That PCE print of 3.4% annualized implies that the economy is still faring well and a Fed Funds interest rate reduction may not happen this year. Inflation may not be rising, but it isn’t going away! Capital Group wrote an interesting research piece called “What if the Fed doesn’t cut interest rates this year?” Click the link below for more on the topic.
In a nutshell, the stellar 1Q24 earnings reports for Google and Microsoft rescued the stock market late Thursday and early Friday. The economy is plugging along nicely, and the unemployment rate remains around 4%. People are spending, so corporate earnings continue to rise. That’s the formula for stock market success! BlackRock expounds on this theme with their Weekly Commentary, “Higher bar for US earnings to deliver.” Take a look 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.
Capital Group:
BlackRock:
Schwab:
Argus:
Riverbridge:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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