Edward Jones - Financial Advisor: Dominick E. Profaci

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This week the Federal Reserve raised rates by 0.75% to bring the fed funds rate close to 4.0%. Notably, while Fed Chair ...
11/07/2022

This week the Federal Reserve raised rates by 0.75% to bring the fed funds rate close to 4.0%. Notably, while Fed Chair Jerome Powell indicated the pace of rate hikes may slow going forward, he also emphasized that a potential pause in this rate hiking cycle is still "very premature." Markets took the message at its face value, now pricing in a terminal fed funds rate of 5.0%-5.3%, or about 1.3% more in tightening to come.

A summary of last week's market highlights and economic news.

A tug-of-war may be the most appropriate metaphor to describe last week's price action in the markets. Pulling at one en...
10/31/2022

A tug-of-war may be the most appropriate metaphor to describe last week's price action in the markets. Pulling at one end of the rope was disappointing earnings results from mega-cap tech names and more signs of economic activity softening. At the other end was growing hopes for a Fed slowdown and lower bond yields. We provide our interpretation and investment takeaways from last week's developments.

A summary of last week's market highlights and economic news.

Although markets were attempting to stage a comeback last week with a nearly 4% rebound in the first two days, higher bo...
10/24/2022

Although markets were attempting to stage a comeback last week with a nearly 4% rebound in the first two days, higher bond yields once again seemed to stifle the budding rally. For markets to mount a sustainable rebound, we would likely need to see certain conditions in place, including moderating inflation and Treasury yields peaking, neither of which are fully confirmed yet – but we may be getting closer.

A summary of last week's market highlights and economic news.

Markets continue to be guided by the outlook for upcoming Fed rate hikes, so with the latest consumer price index report...
10/17/2022

Markets continue to be guided by the outlook for upcoming Fed rate hikes, so with the latest consumer price index report indicating that inflation is not declining as fast as hoped, stocks fluctuated widely last week. More broadly, we continue to hold the view that inflation is on a downward path, eventually allowing the Fed to ease back on restrictive policy, which we believe will be the catalyst for a more enduring market rebound. This week's Market Wrap looks at the characteristics of market downturns and the longer-term performance that follows.

A summary of last week's market highlights and economic news.

September left a bitter taste for investors as major indexes ended at a new low for the year. However, markets kicked of...
10/10/2022

September left a bitter taste for investors as major indexes ended at a new low for the year. However, markets kicked off the new quarter on a more upbeat note, with the S&P 500 logging its biggest two-day rise since April 2020 before giving back some of those gains later in the week. Could this rebound from the lows have legs, or will it prove to be another bear market rally? We examine what the underlying conditions suggest and provide our take on the September jobs report.

A summary of last week's market highlights and economic news.

Market volatility returned this week, as the S&P 500 once again slipped into bear market territory. What factors could s...
10/03/2022

Market volatility returned this week, as the S&P 500 once again slipped into bear market territory. What factors could signal a potential bottoming process in markets? While each cycle is unique, we highlight three metrics to watch in the weeks ahead: inflation, bond yields, and the U.S. dollar.

A summary of last week's market highlights and economic news.

The Fed was in focus this week with the stock market recoiling and interest rates moving higher as investors digested th...
09/26/2022

The Fed was in focus this week with the stock market recoiling and interest rates moving higher as investors digested the prospects of more aggressive rate hikes ahead as part of the Fed's mission to bring down elevated inflation. While renewed market volatility has been challenging, our latest Weekly Market Wrap highlights the latest developments and reasons investors can be optimistic about what comes next.

A summary of last week's market highlights and economic news.

Inflation remains the kryptonite for the markets as the hotter-than-expected August CPI triggered the biggest daily decl...
09/19/2022

Inflation remains the kryptonite for the markets as the hotter-than-expected August CPI triggered the biggest daily decline in the S&P 500 in over two years. The broad price pressures challenge the Fed to keep going and suggest that the road to the 2% target will likely be long. But there are glimmers of hope that the underlying inflation trend will likely be down in the months ahead.

A summary of last week's market highlights and economic news.

Markets are often unpredictable and there have been plenty of surprises in 2022. In this week’s Market Wrap, we take a l...
09/12/2022

Markets are often unpredictable and there have been plenty of surprises in 2022. In this week’s Market Wrap, we take a look at expectations versus reality, evaluating the trends that have played out this year and what they might signal about the path ahead.

A summary of last week's market highlights and economic news.

This past week, we saw equity markets fall, bond yields rise, and commodities sell-off as concerns around global demand ...
09/05/2022

This past week, we saw equity markets fall, bond yields rise, and commodities sell-off as concerns around global demand heightened once more. Markets are now forecasting a 75 basis-point (0.75%) rate hike at the September FOMC meeting and a terminal fed funds rate of close to 4.0%, with any rate cut expectations removed from mid-2023 forecasts. However, while the near-term may be volatile, we see a case for markets to stabilize heading into year-end, driven by two key factors: midterm elections and a potential Fed pause by year-end.

A summary of last week's market highlights and economic news.

Stocks have made a less-than-pleasant round trip this summer. Major indexes entered a bear market in June, rebounded sha...
08/29/2022

Stocks have made a less-than-pleasant round trip this summer. Major indexes entered a bear market in June, rebounded sharply in July, and are on track to finish flat in August, returning to where they were three months ago. Because some of the worst-case-scenario risks have recently diminished, we think the direction of travel since the midsummer lows is justified. But strong headwinds to growth will remain, which is why we continue to expect a more bumpy and prolonged market recovery to the prior highs. With the Fed's Jackson Hole meeting marking the last major market event before the summer ends, we take a look at what's changed, what hasn't, and what the evolving conditions may mean for the road ahead.

A summary of last week's market highlights and economic news.

High inflation and rising interest rates have prompted recession worries, yet a healthy labor market and recent declines...
08/22/2022

High inflation and rising interest rates have prompted recession worries, yet a healthy labor market and recent declines in prices at the pump have helped ease fears and lift the stock market recently. This week we take a look at the state of the consumer and the outlook for household spending, which will play a key role in the path ahead for the economy and markets.

A summary of last week's market highlights and economic news.

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