The Week of April 22, 2024
Stocks bounced back during the week. Senitment turned positive as big tech earnings were better than expected, overshadowing a rise in the Federal Reserve's favorite inflation gauge, the PCE price index.
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Stocks bounced back during the week. Senitment turned positive as big tech earnings were better than expected, overshadowing a rise in the Federal Reserve's favorite inflation gauge, the PCE price index.
It was a difficult week for investors as rising U.S. Treasury yields and mixed corporate earnings drove market volatility throughout the week.
It was a difficult week for U.S. stocks as inflation gauges revealed inflation remains sticky, leaving investors to question the timing and scale of interest rate cuts by the U.S. Federal Reserve.
Investors began a new quarter during the week of April 1. Below is an inventory of last week's Daily Market Commentary, you can follow our regular post on LinkedIn.
Last month proved to be the worst trading month of the year as the dreaded “September Effect” once again claimed the month for the bears (see Market Data section). We’re referring to an anomaly involving the historical average of a 1% decline for the S&P 500 in the month of September (1928-2021).
U.S. equity markets staged an impressive rally in July after a historically awful first half of the year. All major indices posted their best months in over two-years as they surpassed their 50- and 100-day moving averages. Unfortunately, the gains we witnessed in July fizzled in August as investors quickly lost hope that a dovish pivot by the Federal Reserve was on the horizon.