This roundup of top financial news for the week presented by Matt Glova and the LifeTime Asset Management team:
Monthly Market Update, October 31, 2024
Quick Highlights:
1. Stocks Slide in October – A late-month sell-off led to a down month for stocks.
2. Bonds Fall in October – Rising interest rates caused bonds to fall during the month.
3. Surprisingly Resilient Economic Growth – The economic updates released in October showed signs of economic resiliency.
4. Risks to Monitor – Markets face a variety of risks as we head to the end of the year.
5. Positive Outlook Ahead – The most likely path forward is for continued market appreciation and economic growth.
Click here to read the full monthly market report published October 31, 2024.
Weekly Market Update, October 28, 2024
Existing home sales were weaker than expected; rates have risen in recent weeks. Durable goods orders were better than expected, particularly within core orders. Tesla and other technology firms lifted the Nasdaq slightly despite broader softening. Yields continued to climb and the 30-year fixed-rate mortgage rate rose to 6.9 percent.
Click here to read the full weekly market report published October 28, 2024.
Weekly Market Update, October 21, 2024
Retail sales were better than expected in September. Housing data was mixed; home builder sentiment beat expectations, but housing starts and building permits slowed more than anticipated. In the second week of earnings season, the so-called “Magnificent Seven” and financials helped lift equities higher. Yields were relatively unchanged ahead of earnings and the U.S. election.
Click here to read the full weekly market report published October 21, 2024.
Weekly Market Update, October 14, 2024
FOMC meeting minutes showed some discourse regarding last month’s 50 bps rate cut. Headline and core CPI were slightly higher than expected in September. Solid bank earnings helped propel equities higher. Yields continued to increase on the long end of the curve as concerns regarding a rebound in inflation seeped in.
Click here to read the full weekly market report published October 14, 2024.
Weekly Market Update, October 7, 2024
After a string of softer reports, employment data was much better than expected, helping slow rate cut expectations. Service sector confidence improved much more than expected, leading to a solid week of economic data, marred only by a slightly lower-than-expected IS M manufacturing report. A blowout jobs report helped support equities, leading to a fourth consecutive week of gains. Yields rose as the narrative of a softening economy seemed to dissipate—along with the probability of another 50 bps rate cut next month.
Click here to read the full weekly market report published October 7, 2024.
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.