Markets Were Calm to Start the Week
What is it?
The stock markets were relatively calm leading into Monday. Not much news to start the day as much of it was already accounted for by late last week.
Why does it matter?
This could be a sign that the market is not overly confident in one direction or another. Inflation data came out later on Monday which could impact what the Federal Reserve decides to do Wednesday. It could also provide a look back at how prices have changed for those that make decisions for their businesses that are related to price stability.
While the week started calm, there were some moves last week that caught our attention. The same thing could happen later this week after investors act on the Federal Reserve’s decision on interest rates.
Earnings in Focus
What is it?
U.S. stock benchmarks were up no more than 1% Monday.** Investors absorbed incoming data but seemed to stick to the script as no wild moves grabbed at the headlines.
Why does it matter?
Many investors are looking ahead to earnings reports as some companies with large market shares are set to report earnings this week. That, coupled with the Fed meeting will help investors establish an outlook for the next few months in the markets. While we will be in tune with what goes on there we are more focused on our process since it is something we believe in and have control over.
Other articles we found interesting this week:
UPS and Teamsters restart contract talks Tuesday. Billions are at stake.
Sam Altman’s Worldcoin Token Soars on First Day of Trading
China hits back against Western sanctions
Current 401(k) portfolio
Our last 401(k) portfolio reallocation: 5/19/2022.
Want more information?
The weekly market insight provides a window into the process we use in our investment management process. At Breakaway, we believe markets are always changing and require a nimble yet data-oriented approach.
Our process attempts to identify trends and momentum in the financial markets. With that information, we align our clients’ portfolio accordingly in the hope to help our clients accomplish their life goals while attempting to lower the risk of a large drop in their portfolio.
Click here for more details about our investment management
Sources:
*Eren Sengezer. “PMI surveys kickstart all-important central bank week”. FX Street. 7/24/2023. https://www.fxstreet.com/news/forex-today-pmi-surveys-kickstart-all-important-central-bank-week-202307240654
**Karen Friar and Dani Romero. “Stocks rise with Big Tech earnings, Fed decision in focus”. Yahoo Finance. 7/24/2023. https://finance.yahoo.com/news/stocks-rise-with-big-tech-earnings-fed-decision-in-focus-stock-market-news-today-103518721.html
IMPORTANT DISCLOSURES:
Educational use Only. The market update published by Breakaway Financial Group LLC (“Breakaway”) is intended to be educational in nature and is not intended to be a recommendation for any specific investment product, strategy, plan feature or other purposes. Accordingly, it should not be construed by any consumer and/or prospective client as solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation.
Advertising and Marketing. Communications such as this are not impartial and are provided in connection with advertising and marketing. This material is not suggesting a specific course of action or any action at all. Prior to making any investment or financial decisions, an investor should seek individualized advice from a personal financial, insurance, legal or tax professional that takes into account all of the particular facts and circumstances of an investor’s own situation. No person associated with Breakaway is a licensed attorney or tax professional and the information contained herein should not be considered tax or legal advice.
Links to Third Party Content. This Market Update contains links to articles or other information maintained by unrelated third parties. You acknowledge and agree to the following: All such information is provided solely for convenience purposes only because we believe that it may provide useful content. and all users thereof should be guided accordingly. We disclaim any responsibility for the link’s performance or interaction with your computer, its security and privacy policies and practices, and any consequences that may result from visiting it. We do not control the content published by the third-party; we do not guarantee any claims made on it, nor do we endorse its sponsor or any of the content, policies, activities, products or services offered by any advertiser on the site. Breakaway assumes no liability for any inaccuracies, errors or omissions in or from any data or other information provided by the third party and inclusion or reference by Breakaway to any third party link should not be construed by any consumer and/or prospective client as a solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.
Important Information regarding Registration Breakaway Financial Group, LLC and/or Patrick Traverse offer investment advisory and financial planning services through Belpointe Asset Management, LLC, (“Belpointe”) 500 Damonte Ranch, Parkway Building 700, Unit 700, Reno, NV 89521, an investment adviser registered with the Securities and Exchange Commission (“SEC”). Registration with the SEC should not be construed to imply that the SEC has approved or endorsed qualifications or the services Belpointe offers, or that its personnel possess a particular level of skill, expertise or training. It is important to read disclosures pertaining to Belpointe Asset Management at this link https://belpointeasset.com/disclosure/. Additional information about Belpointe and Patrick Traverse is available on the SEC’s website at www.adviserinfo.sec.gov.
