From the desks of Stanley Katz & Lauren Madera
STAY SAFE & HAVE FUN!
It’s now two weeks in a row that all three major US stock market indices are up (i.e., DJIA: +1.61%, S&P 500: +1.36%, Nasdaq: +1.49%). In fact, both the DJIA and S&P 500 hit record highs this week. Analysts and economists were on the edge of their seats as the Federal Reserve’s Open Market Committee met and announced a 0.50% cut to the Fed Funds interest rate. The “scrabble” word for the week was “recalibration.” Fed Chairman Powell used it eight times in his speech on Wednesday! For more on this topic, click the Janus Henderson research piece, “No time like the present – the Fed commences rate-cutting cycle.”
The stock market surged shortly after Wednesday’s rate cut and continued through Thursday. Many traders anticipated that to happen. In the US economy, however, take note that:
- Inflation has begun to wane.
- Unemployment remains low.
- Hiring has slowed.
- Credit card balances are rising.
- Consumers are cutting back on spending.
Where does the stock market head from here? Take a deeper dive into the matter by reading the Capital Group epistle 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.
Janus Henderson Investors:
Capital Group:
Schwab:
Argus:
J.P. Morgan Asset Management:
Stanley Katz & Lauren Madera, Financial Advisors
ClientFirst Financial Strategies, Inc.
937-293-5500
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