September 12, 2022

Weekly Market Update

By Michael McKeown, CFA, CPA - Chief Investment Officer

Weekly Market Update

Chart of the Week

Consumer confidence surveys show an improvement from a few months ago. The decline in oil and gas prices are a reason. According to head of petroleum analysis Patrick De Haan at GasBuddy, Americans will soon be saving $500 million per day in gas compared to three months ago. Though prices remain above where we started the year, this savings will help household balance sheets.

Gasoline & Oil Prices

What We’re Reading

Good Enough: Forecasting & Survival – Morgan Housel
The ESG Crown Is Slipping, and It’s Mostly the Fund Industry’s Own Fault – Businessweek
What if U.S. Stocks are Undervalued? – Morningstar
2022 Mid-Year Global Real Estate Outlook – CBRE

Podcast of the Week

The Status Game – Infinite Loops

The Past Week

Jobless claims and services reports came in better than expected in the U.S. Weaker trade data out of China came out as the country struggles with lockdowns. The European Central Bank increased interest rates 0.75%, the largest increase in its history.

The Past Week

The Week Ahead

Attention turns to the monthly Consumer Price Index report on Tuesday as it will be a key indicator of whether inflation peaked in July. This has implications for the Federal Reserve’s meeting next week, where the market expects an increase of 0.75% in the Fed Funds Rate. The retail sales and Philly Fed Business Index reports on Thursday will be key indicators on the strength of the economy.

The Week Ahead

Talk to you next week

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