Archive for June 2024
Market Update – June 24th, 2024
Economic data demonstrated a stable yet softer US economy last week, as May’s retail sales came in below expectations, with several important categories declining. Existing home sales volumes continued to fall, although the median home sales price reached a record high.
Read MoreMarket Update – June 17th, 2024
Stocks notched new all-time highs last week on news of a lower-than-expected CPI and PPI inflation reports, where consumer inflation clocked in at 3.3%, and producer inflation clocked in at 2.2%. During its June meeting, the Federal Reserve revised its projections, now anticipating only one rate cut in 2024 and raising inflation expectations. Meanwhile, consumer sentiment has unexpectedly declined in recent months on concerns of sticky prices.
Read MoreMarket Update – June 10th, 2024
Last week saw a continued rally in the markets, driven by a mixed jobs report that suggests the Federal Reserve may need to hold rates longer or continue with their current trajectory of potentially cutting rates this fall. The ISM Manufacturing index remained weak, while the ISM Services index highlighted the ongoing strength of the US economy. Looking ahead to this week, the Federal Reserve’s meeting on Wednesday will be pivotal in gauging the central bank’s future monetary policy action
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