September 19, 2022

Weekly Market Update

By Michael McKeown, CFA, CPA - Chief Investment Officer

Weekly Market Update

Chart of the Week

Over the last four decades, developed economies shifted more spending to services at the expense of goods. The trend reversed in 2020 during the pandemic as goods took a greater share, putting pressure on supply chains. At the margin, there are signs that services are beginning to turn the corner again in the U.S., following the path of France and the U.K.

Goods Consumption

What We’re Reading

Coming Alongside 401ks: Student Loan and Savings Plans – Plan Sponsor
Eye on the Markets: On CPI, S&P, GHG and the IRS – JPMorgan
Housing Market Update: Mortgage Rate Spike Further Cools Home Buying and Selling – Redfin
A Lesson in Second Order Thinking – Farnam Street

Podcast of the Week

Five Allocators Riff on Investing – Capital Allocators

The Past Week

Inflation stayed stubbornly high for the August report, increasing 0.1% over the prior month and above expectations. The Philly Fed Index showed a drop in activity. Retail sales increased due to a pickup in motor vehicle sales, indicating supply chain constraints may be easing.

The Past Week

The Week Ahead

This week kicked off with a miss for housing as sentiment from builders dropped again. All eyes are on the Fed meeting this Wednesday, with markets anticipating an increase of 0.75% in the Fed Funds Rate. On Friday, a picture of global economic activity will be released by S&P.

The Week Ahead

Talk to you next week

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