This roundup of top financial news for the week presented by Matt Glova and the LifeTime Asset Management team:
Monthly Market Update, May 31, 2024
Quick Highlights:
1. Markets Rebound in May: Stocks rallied after declining in April.
2. Falling Yields Support Bond Prices: Falling interest rates caused bond price to rise.
3. Labor Market Cools in April: The April jobs report showed encouraging signs of softening labor demand.
4. Additional Signs of Slowing Growth: Several key economic updates pointed toward slowing growth.
5. Market Risks to Monitor: Domestic, international, and unknown risks remain for markets.
6. Improving Fundamentals and Positive Outlook: Economic and market fundamentals support future improvements.
Click here to read the full monthly market report published May 31, 2024.
Weekly Market Update, May 28, 2024
Existing home sales surprised to the downside in April amid rising rates and a more hawkish tone from the Fed. Services and manufacturing segments improved notably in May. Durable goods surprised to the upside in April. Equities were led by Nvidia earnings, which paced a very narrow rally. Treasury yields moved higher. Bond investors are questioning the impact of potential rate cuts this fall.
Click here to read the full weekly market report published May 28, 2024.
Weekly Market Update, May 20, 2024
Economic reports surprised to the downside, indicating a slowdown in the economy. This may lead the Federal Reserve (Fed) to cut interest rates sooner than expected. Retail sales were the big surprise. Strong consumers are critical; consumption makes up roughly 70 percent of the U.S. economy. Equities were led by technology and real estate as the potential for lower rates provided support for their valuations. Treasuries rallied slightly on softer economic data, moving yields beyond the 2-year lower.
Click here to read the full weekly market report published May 20, 2024.
Weekly Market Update, May 13, 2024
The Fed Governors remain mixed in the near-term policy stance—not ruling out hikes—but also believe the prior hikes continue to weigh on the economy. Consumer confidence fell by more than expected as consumers continue to be concerned about the level of inflation. Equities saw a broadening out of its rally as higher for longer sectors benefited. Treasuries saw little movement ahead of this week’s inflation data.
Click here to read the full weekly market report published May 13, 2024.
Monthly Market Update, April 30, 2024
Quick Highlights:
1. Markets Pull Back: Stocks fell in April as rising interest rates weighed on performance.
2. Bonds Struggle: Rising short- and long-term interest rates caused bonds to fall.
3. Continued Economic Growth: Economic reports released in April showed signs of continued growth.
4. Markets Rethink Interest Rates: Still-high inflation caused interest rates to rise.
5. Market Risks Remain: Domestic, foreign, and unknown risks remain for markets.
6. Fundamentals Remain Solid: Economic and market fundamentals support future improvements.
Click here to read the full monthly market report published April 30, 2024.