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Recap | Week Ahead | Earnings Season Thumbnail

Recap | Week Ahead | Earnings Season

“Stocks lead earnings, which lead the economy.” - Brian Belski, Chief Investment Strategist at BMO Capital Markets

Last week's market recap: 

  • The S&P 500 closed the week up 2.68%. Year-to-date the index is up 7.38%
  • NASDAQ closed the week up 4.23%. YTD the index is up 6.32%
  • U.S. Aggregate Bond index was down -.08%. YTD the index is down -3.19%
  • 10-Year Treasury Rate increased, ending the week at 4.67% up from 4.62% the prior week
    • Fed Funds Target rate remains at 5.25-5.50%
  • The 1-Year Treasury is yielding 5.20%  
  • A 6 Month Treasury is yielding 5.38%  


The week ahead:  

  • Jobs Report
  • Fed Rate Decision 
  • Earnings Season: Apple, Amazon, AMD, Eli Lilly, Starbucks, etc.


Higher for Longer:

Last week, the S&P 500 snapped a three week losing streak.  Mega Cap Tech earnings were well received. Positive growth momentum helped relieve worries of potential stagflation.    

Higher for Longer:  Slow progress on inflation has significantly reduced the markets expectations of rate cuts.  The Fed is expected to keep rates unchanged at this week’s meeting.   

In a higher for longer market environment, Quality Companies, Fixed Income, and Alts should be in focus. 

  • The biggest companies continue to drive equity markets higher.  
  • Most investors should look to take advantage of higher yields within fixed income.  
  • Alternatives to both stocks and bonds help diversify when stock and bonds move in tandem.    

Source: BlackRock Student of the Market


As always, let us know if you have any questions.

 

Best, 

CRA Investment Committee


Matt Reynolds CPA, CFP®

Tom Reynolds, CPA 

Robert T. Martin, CFA, CFP®

Gordon Shearer Jr., CFP® 

Jeff Hilliard, CFP®, CRPC®

Joe McCaffrey, CFP® 

Phillip Tompkins, CFP®


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