Weekly Market Commentary – Week 71
5/6/2024
Uncertainty about the direction and timing of Fed rate cuts is causing stock markets in the United States to charge and retreat.
MOREUncertainty about the direction and timing of Fed rate cuts is causing stock markets in the United States to charge and retreat.
MORELast week, many investors were focused on economic data. The Personal Consumption report offers information about Americans’ income and spending over the previous month.
MOREThere is a lot going on in the world that could affect the value of financial markets – wars, tensions between major powers, a strong dollar, and rising oil prices – just to name a few.
MOREIt was a rough week for stock markets. “The S&P 500 closed 1.5% lower on Friday, while the Nasdaq Composite dipped 1.6%.
MOREThe bull charged from October 2023 through March 2024. Last week, it took a breather.
MOREIf you’ve ever dieted, you may be familiar with the weight-loss plateau. Many people experience steady progress. The bathroom scale moves lower week by week – until it doesn’t – and that can be discouraging.
MORENo one expected the United States Federal Reserve to announce a rate change last week – and it didn’t. But Fed Chair Jerome Powell’s comments and the actions of other central banks led to new records being set in stock markets around the world, reported Randall Forsyth of Barron’s.
MOREHere’s the tea on stock markets and presidential elections.
Last week, a slew of headlines mentioned stock market bubbles and frothy valuations. The implication was that markets might be headed lower because they’ve risen so high.
The week got off to a good start… In testimony before House and Senate committees, Federal Reserve (Fed) Chair Jerome
MOREThe bull market is alive and well.
“We know what investors are thinking,” reported Jacob Sonenshine of Barron’s.