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:
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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.
*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
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