This roundup of top financial news for the week presented by Matt Glova and the LifeTime Asset Management team:
Quarterly Market Update, September 30, 2024
Quick Highlights:
1. Stocks Rally in September to Cap Off Strong Third Quarter – Stocks continued to rise in September as improving fundamentals and lower interest rates supported returns.
2. Strong Quarter for Bonds – September capped off a strong quarter for bond investors.
3. Federal Reserve Cuts Interest Rates – The Fed lowered the federal funds rate in September for the first time in more than four years.
4. Healthy Economic Backdrop – Economic updates released show signs of continued growth.
5. Real Risks Remain – Markets face a variety of risks as we kick off the fourth quarter.
6. Cautious Optimism Warranted – The most likely path forward is for continued market appreciation and economic growth.
Click here to read the full monthly market report published September 30, 2024.
Weekly Market Update, September 30, 2024
Business confidence, as measured by S&P Global US Composite PMI, increased slightly in September. Consumer confidence and personal spending missed expectations in September and August, respectively. China was the story, launching multiple stimulus measures and propelling emerging markets higher. The yield curve steepened slightly.
Click here to read the full weekly market report published September 30, 2024.
Weekly Market Update, September 23, 2024
The Fed started its rate-cutting cycle with a 50 bps reduction on Wednesday. August retail sales and industrial production were better than expected. Equities, paced by several mega-cap companies, continued their move higher.
Click here to read the full weekly market report published September 23, 2024.
Weekly Market Update, September 16, 2024
Consumer and producer inflation continued to move lower in August, though core inflation was slightly higher than expected. Consumer sentiment slightly exceeded expectations for September. Equities recovered sharply after last week’s sell-off amid a softer-than-expected payrolls report. Bonds, particularly on the short end of the curve, remained volatile with short-term Fed policy expectations remaining mixed.
Click here to read the full weekly market report published September 16, 2024.
Weekly Market Update, September 9, 2024
The employment report missed expectations and, when combined with prior downward revisions, gave the market cause for concern with slowing growth expectations. The market saw yields fall as it priced in faster rate cut expectations for the Federal Reserve (Fed). The market responded negatively to last week’s poor employment report. The Fed has one more major data point coming out this week (CPI) that could affect yields and market sentiment.
Click here to read the full weekly market report published September 9, 2024.
Weekly Market Update, September 3, 2024
Consumer confidence has been shaky over the past few months but is showing signs of improvement. July PCE data didn’t change expectations for a rate cut at the Fed’s September meeting. High expectations raise the bar for continued market performance, as evidenced by the market’s reaction to Nvidia. PCE data hasn’t changed the Fed rate cut outlook.
Click here to read the full weekly market report published September 3, 2024.
Monthly Market Update, August 31, 2024
Quick Highlights:
1. Solid Month for Stocks: Stock returns were positive in August despite an early month sell-off.
2. Bonds Continue to Rise: Falling interest rates led to positive bond returns for the fourth consecutive month.
3. Interest Rate Cuts Ahead: Investor expectations for rate cuts rose during the month.
4. Continued Economic Growth: Economic updates released during the month showed signs of continued growth.
5. Risks to Monitor: Markets face a variety of risks as we finish the third quarter.
6. Positive Outlook for Markets and the Economy: Markets and the economy set for continued growth in the months ahead
Click here to read the full monthly market report published August 31, 2024.