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Monthly Archives: October 2024

Stocks Mixed Ahead of Election

2024-10-28T05:11:01-05:00October 28, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , , , , , , |

The Weekly Update

Week of October 28th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks were mixed last week as fresh economic data points and election-related uncertainty slowed market momentum.

The Standard & Poor’s 500 Index fell 0.96 percent, while the Nasdaq Composite Index rose 0.16 percent. The Dow Jones Industrial Average dropped 2.68 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 2.30 percent.

Nasdaq Leads
Stocks were mixed for the first half of the week as investors geared up for a steady stream of Q3 reports. The 10-year Treasury yield continued to trend higher, which caught the attention of some traders.
Markets fell Wednesday morning with news that existing home sales fell to a 14-year low in October; still slowed by higher interest rates, sales are on track for their worst year since 1995. Also, pre-election jitters remained an undertow with traders.

News that durable goods orders rose in September buoyed …

Sixth Week of Gains on Wall Street

2024-10-21T10:15:54-05:00October 21, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , , , , , , |

The Weekly Update

Week of October 21st, 2024
By Christopher T. Much, CFP®, AIF®

Stocks posted modest gains last week, with quarterly earnings season in full swing and the election on the horizon.

The Standard & Poor’s 500 Index increased 0.85 percent, while the Nasdaq Composite Index rose 0.80 percent. The Dow Jones Industrial Average advanced 0.96 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, fell 0.31 percent.

Six in a Row
Stocks bolted out of the gate as the week began. The S&P 500 and the Dow Industrials hit record highs, with the Dow crossing 43,000 for the first time.

Midweek, the news of stronger-than-expected retail sales report contributed to overall market momentum. Retail sales rose a seasonally adjusted 0.4 percent in September, topping economists’ forecasts.

As the week wrapped up, the technology sector helped fuel a rally that pushed the S&P and Nasdaq to another record high. It was the sixth …

  • 10 14 24 CTS Financial Group

Mixed Data Leaves Investors Anxious

2024-10-14T10:29:24-05:00October 14, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , , , |

The Weekly Update

Week of October 14th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks advanced last week despite mixed inflation data, lurching oil prices, and lingering anxiety about the Middle East.

The Standard & Poor’s 500 Index gained 1.11 percent, while the Nasdaq Composite rose 1.13 percent. The Dow Jones Industrial Average picked up 1.21 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 0.23 percent.

Up And Down Week
Stocks slipped on Monday as oil continued to rise but moved higher on Tuesday as the technology sector showed the way. Oil prices fell back as investors took a wait-and-see stance concerning Middle East tensions.

The S&P 500 and Dow Industrials hit fresh record highs on Wednesday but dipped Thursday morning after the latest Consumer Price Index (CPI) data showed inflation was warmer than expected.

Earnings season kicked off Friday, and update reports from a few money center banks injected some enthusiasm …

Market Rallies But Ends Week Flat

2024-10-07T10:18:59-05:00October 7, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , , |

The Weekly Update

Week of October 7th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks were essentially unchanged last week as geopolitical tensions added some volatility to an otherwise quiet trading week.

The Dow Jones Industrial Average was flat (+0.09 percent), while the Standard & Poor’s 500 Index ticked up 0.22 percent. The Nasdaq Composite also was flat (+0.10 percent). The MSCI EAFE Index, which tracks developed overseas stock markets, was a bit more unsettled by the geopolitical events, dropping 3.74 percent.

Stocks Flat, Oil Spikes
Stocks posted modest gains on Monday, encouraged by upbeat comments in a speech by Fed Chair Jerome Powell. However, the modest gains pushed the S&P 500 and Dow to fresh records.

As Middle East tensions escalated on the first day of October, stocks fell, bond yields rose, and oil prices rose as the news unfolded.

On Wednesday, all three averages were flat. An ADP report showed higher-than-expected private sector job …

Rate Cut Momentum; D.C. Averts Shutdown

2024-10-01T10:18:53-05:00October 1, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , , , |

The Weekly Update

Week of September 30th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks moved higher last week, continuing to build on the momentum generated after the Federal Reserve decided to cut short-term rates by 0.50 percent.

The Standard & Poor’s 500 Index gained 0.59 percent, while the Nasdaq Composite rose 0.95 percent. The Dow Jones Industrial Average added 0.62 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, gained an eye-catching 3.53 percent.

Congress Passes Spending Bill
Stocks started the week tepidly but in the green, as investors mostly shrugged off Tuesday’s weak consumer confidence report. Then, at midweek, markets put on the brakes as investors appeared to take profits after a four-day winning streak.

On Thursday, markets rallied on the news that the final Q2 gross domestic product estimate showed the economy increased at an annual rate of 3.0 percent. Then Friday, the PCE, or Personal Consumption and Expenditures Index, …

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