Weekly Market Report for April 10-14, 2023

Weekly Market Report for April 10-14, 2023
  • Markets
    • S&P 500   +1.3%
    • Dow Jones Industrial Average   +1.4%
    • NASDAQ   +1.1%
    • Russell 2000   +1.8%

U.S. equity markets finished the week higher as pricing pressures cool further. The Consumer Price Index (CPI), the Federal Reserve’s actual inflation gauge, inched lower to 5% (excluding food and energy the number is 5.6%). While recent data is still far above the central bank’s 2% target, inflation growth continues to drop from June’s 9.1% peak. Minutes from the FOMC’S March meeting showed the central bank is forecasting a mild recession starting in the second half of 2023. Important to note, stock markets climbed in the face of the Fed’s recession forecast. What does this tell us? The inflation narrative is still running the markets.

Leave a Reply

Your email address will not be published. Required fields are marked *