From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
The major US stock market indices came roaring back from the debacle a couple weeks ago with all three posting solid gains (i.e., DJIA: +2.94%, S&P 500: +3.93%, Nasdaq: +5.29%). Inflation and retail sales data reinforced the probability of a September rate cut and fueled the week’s bull run. Just as in past months, the tech giants led the charge. Year-to-date returns have been spectacular (i.e., DJIA: +7.88%, S&P 500: +16.45%, Nasdaq: +17.46%)!
Coming up this Friday, August 23rd is the Fed’s Jackson Hole Symposium, which may reveal their plan for interest rates. For insight on this annual conference, click the link below to read Northern Trust’s “Weekly Economic Commentary.”
History tells us that tumultuous stock market swings akin to August 5th are not unusual. Stock market volatility has calmed for the moment, but questions remain:
- Can the Magnificent 7 continue to drive markets higher?
- When will non-tech stock prices catch up?
- Will the consumer be able to sustain this level of spending?
Look at Capital Group’s “Investing in companies at times of crisis” research piece for additional information.
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.
Northern Trust:
Capital Group:
Lord Abbett:
Goldman Sachs:
Argus:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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