resented by Matt Glova and the LifeTime Asset Management team:
Weekly Market Update, November 28, 2022
After the Federal Reserve (Fed)’s fourth consecutive rate increase of 75 basis points (bps), the recently released minutes from the early-November meeting indicate that most Federal Open Market Committee (FOMC) members could support dropping to a smaller rate hike when they reconvene in December. Last week’s data was lighter than usual due to the holiday, but the release of durable goods orders and the November FOMC minutes helped provide insight into economic conditions and policy. Equities moved higher as earnings and Fed speak about potentially slower rate increases moving forward helped lift markets.
Weekly Market Update, November 21, 2022
Despite seeing some recent data that potentially points to a slowing pace of inflation, there is still tightening to be done. Core Consumer Price Index (CPI) data for October increased 0.3 percent
month-over-month, but Federal Reserve (Fed) officials have indicated that this better-than-expected result should not be seen as a sign that the inflation fight is over. Equity market performance was mixed last weekas we saw varied commentary from Federal Open Market Committee (FOMC) members.
Weekly Market Update, November 14, 2022
The Consumer Price Index (CPI) surprised markets last week with headline—which rose 0.4 percent month-over-month against an expected 0.6 percent gain—and core— which rose 0.3 percent month-over-month (excluding food and energy) against an expected 0.5 percent gain—numbers. Equity markets also rallied on the lower-than-expected inflation data as Thursday saw the S&P 500 and Nasdaq Composite Index up more than 5 and 7 percent, respectively.
Weekly Market Update, November 7, 2022
Last Wednesday brought the Federal Open Market Committee (FOMC)’s latest rate decision where it hiked the policy rate by 75 basis points (bps) for the fourth consecutive time. This brought the upper target of the central bank’s rate up to 4 percent for the first time since January of 2008 during the global financial crisis. Equity markets struggled last week amid discussion of a higher end target rate for the Fed. The result was a swift sell-off in riskier equities such as technology and consumer discretionary.