Presented by Matt Glova and the LifeTime Asset Management team:
Weekly Market Update, Oct 30, 2023
Economic data broadly surprised to the upside, which may make for a more difficult Fed meeting in November. Despite the upside surprise in data, core personal consumption expenditures in the third quarter reached 2.4 percent, closing in on the Fed’s goal of 2 percent. Equities took a risk-off approach, with utilities, materials, and staples faring best. Long-term yields are expected to remain volatile as we await commentary from the Fed at its news conference on Wednesday.
Weekly Market Update, Oct 23, 2023
Retail sales and industrial production fared better than expected. Housing data was mixed; building permits and existing home sales beat estimates but housing starts were soft. Earnings from Tesla and Netflix were mixed; another big week of earnings looms. Yields continued to rise as big buyers remained on the sideline.
Weekly Market Update, Oct 16, 2023
Producer and consumer prices remained elevated due to a rebound in commodity prices. Sentiment was lower than expected as consumers’ inflation expectations worsened slightly. Potential for further Chinese stimulus led to international outperformance. Uncertainty regarding the Middle East conflict and lower valuations buoyed long-term Treasuries.
Weekly Market Update, Oct 9, 2023
Manufacturing and service businesses saw an uptick in confidence in September. The monthly employment report was stronger than expected. Intermediate and long-term bond yields continued to rise. A strong jobs report continued to make the case for the strength of the U.S. economy.
Weekly Market Update, Oct 2, 2023
Production and higher-than-expected durable goods orders indicated solid business activity despite pessimistic future outlooks. Although consumers continued to spend in August, confidence soured last month. Intermediate- and long-term bond yields continued to rise. With a significant amount of steepening last month, shorter-term yields are worth watching.
Quarter-End Market Update, Sept 30, 2023
Read more on:
1. September Sell-off Caps Challenging Quarter
2. Fixed Income Falters as Rates Rise
3. Economic Growth Continues
4. Shutdown Uncertainty Highlights Continued Market Risks
5. Solid Foundation for the Fourth Quarter