Markets Eagerly Awaiting Consumer Confidence and Jobs Report
This week is report week for the Market as everyone waits while holding their breath hoping for better news on inflation and a strong jobs report for August. Over the past month, the S&P 500 Index has dropped 3.39%. The past year has seen the S&P 500 Index rise 10.58%.
Federal Reserve Chairman Jerome Powell has remained committed over the past two years to bring down inflation to the Federal Reserve’s 2% target with 11 hikes since March of 2022. With the current Federal Funds now between 5.25% and 5.5% and three more meetings scheduled for the year, they will be keeping a close eye on the Personal Consumption Expenditures Price Index. Last month, Core Inflation was at 4.8%. Fingers crossed it lowers as we are currently experiencing the highest borrowing rates in over 20 years.
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