Presented by Matt Glova and the LifeTime Asset Management team:
Weekly Market Update, October 31, 2022
With the Federal Open Market Committee (FOMC) heading into its November meeting this week, consensus expectations point to a likely rate hike of 75 basis points (bps). Equity markets moved higher despite a rough week of earnings for a number of FAANG names.
Weekly Market Update, October 24, 2022
With the labor market remaining tight and inflation proving stickier than expected, the Federal Open Market Committee (FOMC) heads toward its final two meetings this year with expectations for additional rate hikes of 75 basis points (bps). Equity markets rallied amid signs of resilient earnings, a stronger-than-expected consumer, speculation over a Fed pause, and peak bearishness.
Weekly Market Update, October 17, 2022
The S&P 500 and Nasdaq Composite indices were down last week while the blue chips of the Dow Jones Industrial Average moved slightly higher. It was a volatile week of trading with wide intraday swings, particularly on Thursday following Wednesday’s hotter-than-expected Consumer Price Index (CPI) data.
Weekly Market Update, October 10, 2022
The September employment report showed 263,000 jobs added during the month, which helped drive the unemployment rate down to 3.5 percent. This development further supports the Federal Reserve (Fed)’s trend of outsized interest rate hikes, as a higher unemployment rate is likely required to see meaningful cooling of inflation. The equity was up on a week of mixed trading.
The markets moved higher the first two days of the week but reversed heavily on Friday following a better-than-expected employment report.
Weekly Market Update, October 3, 2022
The economy continues to show signs of strength—consumer confidence, new home sales, and personal spending all surprised to the upside last week—while the Federal Reserve (Fed) actively tries to cool inflation. Equity sold off again last week, marking it the sixth week in the last seven to post a loss. The catalyst in aggressive Fed tightening remained in place as the sell-off that has persisted over the last month.