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Investment Outlook – April 2024
Will They, Won’t They, When Will They? We’re talking about the Fed, of course. Will the Fed lower short-term rates, or will they keep them at the current range (5.25% - 5.50%) for another six or more weeks to see if core PCE inflation continues to decline towards a...
The Morning View: April 1, 2024
Announced this morning, the PCE Deflator increased 0.3% in February, slightly less than expected and was up 2.5% on an annual basis, one-tenth higher than the previous reading. The Core PCE Deflator, which excludes food and energy prices and is closely monitored by...
Market Perspective- March 2024
Walking The Line As expected, the Federal Reserve held interest rates steady last week and signaled it still plans multiple cuts before the end of the year. Following its two-day meeting, the Federal Open Market Committee (FOMC) kept the benchmark overnight borrowing...
Post-FOMC Thoughts
Leading up to Today’s Decision While it was not quite unfathomable that the first Fed Funds rate cut in this monetary policy cycle could occur today, it would have nevertheless been an extremely unlikely outcome. Expectations were firmly in place for the Fed Funds...
The Morning View: March 19, 2024
In this morning’s data, Housing Starts were higher than expected at 1,521,000 in February, which is a 10.7% increase from the previous month and a rebound from the revised -12.3% decrease in the previous report. Building Permits were also higher than expected at...
Market Update-March 2024
The Month At-A-Glance After surpassing its all-time high in January, the S&P 500 powered through the 5,000 level to finish the month 5.3% higher. Momentum within growth stocks continued, with Russell 1000 Growth adding 6.8% in February, which brings its trailing...
The Morning View: March 8, 2024
Announced this morning, the economy added 275,000 jobs in February, more than expected but the previous month was revised lower. The Leisure and Hospitality industry was relatively strong, while Temporary Help was relatively weak. The Unemployment Rate ticked...
Market Perspective- February 2024
Four Years In Context • Service activity and job growth are signaling a further expansion of GDP growth in Q1 2024 with the GDPNow model indicating an annualized 3.2% growth rate. • Since the beginning of November 2023 through February 23, 2024 the S&P 500 has...
The Morning View: February 29, 2024
In this morning’s data, the PCE Deflator increased by 0.3% in January, as expected and was up 2.4% on an annual basis. The Core PCE Deflator, which excludes food and energy prices and is closely monitored by the Federal Reserve, increased 0.4% in January, also as...
The Morning View: February 13, 2024
Announced this morning, the headline Consumer Price Index (CPI) increased 0.3% in January, slightly higher than expected and grew 3.1% on an annual basis. Monthly prices for Energy Services, including Electricity, up 1.2%, and Utility (piped) Gas Service, up 2.0%,...