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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, …

Fed Cuts Interest Rate By Half-Point

2024-09-23T10:31:26-05:00September 23, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , , , , |

The Weekly Update

Week of September 23rd, 2024
By Christopher T. Much, CFP®, AIF®

Stocks moved higher last week after the Federal Reserve’s half-point rate cut, bolstered by multiple data points supporting a cooling but still strong economy and decelerating inflation.

The Standard & Poor’s 500 Index gained 1.36 percent, while the Nasdaq Composite rose 1.49 percent. The Dow Jones Industrial Average moved ahead by 1.62 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, inched up 0.42 percent.

Fed Cuts Rate 0.5 Percent
Stocks traded in a narrow range for the first half of the week as anxious investors awaited the outcome of the Federal Open Market Committee’s (FOMC) September meeting.

Shortly after 2 pm ET Wednesday, the Fed announced it was cutting rates by a half percentage point—a more significant cut than some investors anticipated. Stocks initially rose in response and then fell. Some market watchers attributed the decline to concern …

Stocks Rally Ahead of Fed Meeting

2024-09-16T09:22:07-05:00September 16, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , |

The Weekly Update

Week of September 16th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks rallied last week as investors received better-than-expected consumer and producer inflation data.

The Dow Jones Industrial Average rose 2.60 percent, while the Standard & Poor’s 500 Index gained 4.02 percent. The Nasdaq Composite led, picking up 5.95 percent as tech stocks rebounded. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 1.01 percent.

A Wednesday to Remember
Stocks bounced out of the gate at the start of the week as “risk on” investors made moves before the pending release of the twin inflation reports–the Consumer Price Index (CPI) and Producer Price Index (PPI). The three major averages added slightly more than 1 percent in Monday trading.

On Wednesday, stocks initially dipped following the release of the CPI as traders appeared disappointed by the report. By midday, sentiment changed. The S&P 500, down as much as 1.6 percent in …

Soft Jobs Data, Inflation on Deck, the Fed’s next move.

2024-09-09T10:01:03-05:00September 9, 2024|Categories: Weekly Update|Tags: , , , , , , , , , , , |

The Weekly Update

Week of September 9th, 2024
By Christopher T. Much, CFP®, AIF®

Stocks fell last week as soft economic data rattled investors focused on the Fed’s next move with interest rates.

The Dow Jones Industrial Average lost 2.93 percent, while the Standard & Poor’s 500 Index dropped 4.25 percent. The tech-heavy Nasdaq Composite fell 5.77 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, declined 2.91 percent.

Economic Data Unsettles Investors
The four-day trading week got off to a rough start as weak manufacturing data reawakened recessionary fears. All three major averages were down for the first session after the Labor Day holiday. For many, it was reminiscent of August 5, when stocks tumbled as recession worries unsettled investors.3

Attention shifted to Friday’s jobs report as stocks traded narrowly. Markets initially reacted positively to news that job growth rebounded slightly, and unemployment ticked down. However, selling pressure increased as the trading …

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 …

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 …

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