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Stocks React To Key Data And Earnings

2024-09-03T09:21:29-05:00September 3, 2024|Categories: Weekly Update|Tags: , , , , , , , , |

The Weekly Update

Week of September 3rd, 2024
By Christopher T. Much, CFP®, AIF®

There were mixed results for stocks last week as upbeat economic data and a critical Q2 corporate report shaped the week.

The Dow Jones Industrial Average rose 0.94 percent, while the Standard & Poor’s 500 Index increased 0.24 percent. The Nasdaq Composite lagged, falling 0.92 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, gained 0.35 percent.

Key Economic Data
Markets began the week quiet as investors awaited Q2 earnings from Nvidia, the world’s most influential name in artificial intelligence.

The chipmaker–the second largest stock in the S&P 500 by market capitalization–dipped on the news, putting pressure on the Nasdaq and S&P 500. (The Nasdaq and S&P 500 are market-weighted averages, so larger companies have an outsized impact.)

Nvidia is mentioned to show its influence on the overall stock market. It should not be considered a solicitation for the purchase …

Powell: Fed Is Ready for a Rate Cut

2024-08-24T16:51:53-05:00August 24, 2024|Categories: Weekly Update|Tags: , , , , , , , , |

The Weekly Update

Week of August 25th, 2024
By Christopher T. Much, CFP®, AIF

Stocks notched a solid gain as dovish comments from Federal Reserve officials boosted the market’s recovery from early August lows.

The Standard & Poor’s 500 Index rose 1.45 percent, while the Nasdaq Composite added 1.40 percent. The Dow Jones Industrial Average picked up 1.27 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, gained 2.98 percent.

Dovish Week
Stocks started the week strong, rallying after Wall Street welcomed dovish comments from Minneapolis Fed President Neel Kashkari. The S&P 500 and Nasdaq each posted gains on Monday–the 8th consecutive winning session. The Dow rose for the 5th session in a row.

From there, markets traded in a narrow band until Wednesday afternoon when minutes released from the July 30-31 FOMC Meeting revealed more dovish comments. On Thursday, stocks dipped ahead of Fed Chair Jerome Powell’s annual Jackson Hole, Wyoming, speech.

Well-received …

Markets Rise Thanks to Upbeat Indicators

2024-08-19T09:12:53-05:00August 19, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , |

The Weekly Update

Week of August 19th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks posted solid gains last week, buoyed by robust economic data and constructive comments from Fed officials.

The Standard & Poor’s 500 Index rose 3.93 percent, while the Nasdaq Composite gained 5.29 percent. The Dow Jones Industrial Average lagged a bit, picking up 2.94 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, powered ahead by 4.31 percent.

Upbeat Economic News
Three critical economic data points gave investors what they were looking for: wholesale inflation, consumer prices, and retail sales.

Both the Producer Price Index and the Consumer Price Index rose less than expected in July, reinforcing a picture of cooling inflation. The July retail sales report on Thursday was stronger than expected, which added more fuel to the week-long rally.

Market action slowed down on the week’s final trading day, with positive consumer sentiment gains countered only by a …

Stocks Stage Comeback After Heavy Monday

2024-08-12T10:23:05-05:00August 12, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , |

The Weekly Update

Week of August 12th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks ended last week with modest losses, masking a volatile five-day trading period that saw investors embrace recession concerns and then dismiss the slow-down talk as speculation as the week progressed.

The Dow Jones Industrial Average slipped 0.60 percent, while the Standard & Poor’s 500 Index ended flat (-0.04 percent). The Nasdaq Composite dipped 0.18 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, fell 1.21 percent.

Stocks Stage Comeback
Monday was the worst day for the S&P 500 and the Dow in nearly two years. As recession talk grew louder, investors took a “risk off” position.

On Monday, the Japanese market had its worst drop since 1987 as market participants unwound positions from a popular trading strategy called a “carry trade” amid a global sell-off in stock prices.

But on Thursday, initial jobless claims fell less than expected—a positive …

Fed Goes Dove; Investors Retreat

2024-08-05T08:44:33-05:00August 5, 2024|Categories: Weekly Update|

The Weekly Update

Week of August 5th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks fell broadly last week as investors looked past upbeat Fed comments and focused on disappointing corporate reports and weaker-than-expected economic data.

The Dow Jones Industrial Average lost 2.20 percent, while the Standard & Poor’s 500 Index fell 2.06 percent. The Nasdaq Composite Index dropped 3.35 percent. By contrast, the MSCI EAFE Index, which tracks developed overseas stock markets, gained 0.19 percent for the week through Thursday’s close.

Volatile Week of Trading
Stocks were under pressure early in the week as investors appeared to focus on the Fed’s meeting, which ended on Wednesday. It was a big week for Q2 corporate reports, with five of the ten largest names in the S&P 500 (by market capitalization) reporting numbers. But attention was mainly on the Fed’s meeting.

Stocks rallied on Wednesday when Fed Chair Powell indicated a September interest rate cut was …

Down Corporate Reports Shake Investors

2024-07-29T08:18:00-05:00July 29, 2024|Categories: Weekly Update|

The Weekly Update

Week of July 29th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks had a mixed, see-saw week as disappointing corporate reports unsettled investors who appeared to rotate away from some leading groups in favor of other names.

The Dow Jones Industrial Average picked up 0.75 percent. Meanwhile, the Standard & Poor’s 500 Index declined 0.83 percent, and the Nasdaq Composite Index dropped 2.08 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, fell 1.49 percent for the week through Thursday’s close.

Q2 Corporate Reports Start
Last week began with some positive momentum, but after Tuesday’s close, two influential tech companies reported disappointing Q2 numbers, which soured sentiment. On Wednesday, the S&P dropped 2 percent, and the Nasdaq fell more than 3 percent.

Stocks attempted to rebound on Thursday on news that gross domestic product grew much faster than expected in Q2, but sellers swooped in near the close.

Stocks rallied broadly …

Investors Shift, Anticipating Lower Interest Rates

2024-07-22T09:58:36-05:00July 22, 2024|Categories: Weekly Update|

The Weekly Update

Week of July 22nd, 2024
By Christopher T. Much, CFP®, AIF®

Stocks were under pressure last week as investors appeared to rotate out of mega-cap tech stocks and into areas that may benefit from lower interest rates.

The Standard & Poor’s 500 Index fell 1.97 percent, while Nasdaq Composite Index declined 3.65 percent. The Dow Jones Industrial Average bucked the downward trend, up 0.72 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 1.48 percent for the week through Thursday’s close.

Dow Leads Again
The week began very differently than it ended.

All three averages rallied over the first couple of days this week, with the Dow leading on both days. Fed Chair Powell indicated the Fed may not wait for inflation to reach its 2 percent target before considering a rate move, buoying the markets.

Then, markets hit a speed bump as investors appeared to take profits and rotated …

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