From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
All three major US stock market indices rebounded hard this week (i.e., DJIA: +2.60%, S&P 500: +4.02%, Nasdaq: +5.95%). Most of the hope hinges on the Federal Reserve meeting occurring September 17-18. At this juncture, it appears to be a coin flip whether the Fed will reduce the Fed Funds rate by 0.25% or 0.50%. Inflation has cooled substantially, and the slowing economy is still chugging along. The focus now lands on the unemployment rate, which has started to rise. Schwab’s Market Perspective, “Fed Watch,” offers more insight on what may happen and why.
As noted above, the US stock market indices posted audacious gains last week, and the tech sector drove those gains. AI (Artificial Intelligence) related names like Nvidia, Microsoft, and Alphabet (Google) keep soaring despite already lofty valuations. As their market cap increases relative to other companies, these mega-cap tech stocks comprise a larger and larger percentage of the S&P 500 and Nasdaq. Click the Capital Group link below for their comments, “Has stock market concentration reached a tipping point?”
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:
Capital Group:
J.P. Morgan Asset Management:
Argus:
Zacks:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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