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Last Week's Recap and the Week Ahead Thumbnail

Last Week's Recap and the Week Ahead

Last week’s Market Recap:

  • The S&P 500 was up 6.46% for the week.  Year-to-date the index is down -17.31%.
  •  NASDAQ closed the week up 7.51% and is down -25.52% YTD.
  • 10-Year Treasury Rate increased, ending the week at 3.13% from 3.25% the prior week.
  • Fed Funds Target range of 1.50%-1.75%


The week ahead, 6/27: 

  • Headline and Core PCE (Personal Consumption Expenditures)
  • Case-Shiller Home Price Index
  • Personal income and spending


Quick Comments: 

Manufacturing as well as services sector data out last week confirmed weakening in the economy and increased the odds of a U.S. recession; however, there are few signs of weakening in the labor market.  It’s challenging to conclude we’re on the brink of recession with so many jobs available.   If we are entering (or already in) a recession, there’s no reason to expect that it will be nearly as severe as the last two.  Since the economy spends the majority of the time in expansion, for long-term investors, it is ultimately more important to be well-positioned for expansions versus attempting to trade around recessions.


As you can see in the following chart, the stock market and economy are not always in sync.  Sometimes the stock market does very well during a recession.  Most of the time, it does very well after the recession is over:

Feel free to reach out with any questions.


CRA Investment Committee

Historical performance results for investment indices, benchmarks, and/or categories have been provided for general informational/comparison purposes only, and generally do not reflect the deduction of transaction and/or custodial charges, the deduction of an investment management fee, nor the impact of taxes, the incurrence of which would have the effect of decreasing historical performance results.  Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by CRA Financial, LLC (“CRA”), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this email serves as the receipt of, or as a substitute for, personalized investment advice from CRA.  To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing.  CRA is neither a law firm, nor a certified public accounting firm, and no portion of the email content should be construed as legal or accounting advice.  A copy of CRA’s current written disclosure Brochure discussing our advisory services and fees is available upon request and/or can be reviewed at www.crafinancial.com. 

Please Note:  If you are a CRA client, it should not be assumed that your CRA account holdings correspond directly to any comparative indices or categories. (1) performance results do not reflect the impact of taxes; (2) comparative benchmarks/indices may be more or less volatile than your CRA accounts; and, (3) a description of each comparative benchmark/index is available upon request.

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