From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
Post July 4th holiday celebrations, a couple things became clearer:
- The economy is slowing; and
- Fed Chair Powell intonated when interest rates may decrease.
All that said, the three major US stock market indices posted slight gains for the week (i.e., DJIA: +1.59%, S&P 500: +0.87%. Nasdaq: +0.25%).
Second quarter earnings season began last week. Although the economy remains healthy, the net result indicates slowing. The Consumer Price Index report—an important inflation metric—echoed this message. Nuveen’s 2024 Midyear Outlook, “Widening cracks in the investment landscape,” digs deeper on this subject. Click the link below.
As stated in recent Weekly H&Cs, the question has never been IF the Federal Reserve would cut the Fed Funds interest rate but WHEN. Yes, inflation continues to rise but at a much slower pace. Recently, however, the unemployment rate has risen as well, a signal that the Federal Reserve must note. Hartford Funds’ “Let the Central Bank Rate-Cutting Party Begin” came to the same conclusion. We think you’ll find it to be an interesting read.
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.
Nuveen:
Hartford Funds:
Argus:
Neuberger Berman:
Capital Group:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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