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Financial News for the Week of February 3rd, 2023
Financial News Highlights The Federal Reserve hiked the fed funds rate 25 basis-points, a step down from six consecutive hikes of 50 or 75 bps. Non-farm payrolls accelerated in January for the first time in five months,…
Financial News for the Week of January 20th, 2023
Financial News Highlights Markets finished the week lower on weaker economic data and rising political risks. December retail sales registered the biggest monthly decline in 2022, finishing the fourth quarter flat.…
Financial News for the Week of January 13th, 2023
Financial News Highlights After fifteen rounds of votes, Kevin McCarthy was elected the new House Speaker. However, it didn’t come without making major concessions, setting the stage for more political…
Financial News for the Week of January 6th, 2023
Financial News Highlights The labor market cooled modestly in December, with 223k new jobs added and the unemployment rate ticking back down to 3.5%. The House of Representatives failed to elect a…
Financial News for the Week of December 16th, 2022
Financial News Highlights The FOMC downshifted its tightening race in December, raising the policy rate by 50-bps, bringing the operating band to 4.25%-4.5%. The FOMC’s Summary of Economic Projections showed a less optimistic…
Financial News for the Week of December 9th, 2022
Highlights Somewhat unexpectedly, the ISM services index accelerated in November, with the business activity sub-index expanding to a level last seen in 2021. The services sector continues to struggle with elevated…
Financial News for the Week of August 14, 2020
FINANCIAL NEWS HIGHLIGHTS OF THE WEEK Markets were in a good mood overall this week, despite no deal in Congress on the next round of assistance. The big political news was Biden’s historic VP pick. With 81 days until the election, the race is on!…
Financial News for the Week of August 7, 2020
FINANCIAL NEWS HIGHLIGHTS OF THE WEEK Despite a surge in COVID-19 cases in July, economic data remained broadly positive. Vehicles sales rose 11.3% to a better-than-expected 14.5 million (SAAR). The ISM indices also ticked up on the month and beat…
Financial News for the Week of July 31, 2020
FINANCIAL NEWS HIGHLIGHTS OF THE WEEK Real GDP fell by an historic 9.6% in the second quarter (32.9% annualized), led by declines in spending on services as the economy locked down in March and April. The fall was deep but short. Spending rebounded…
Financial News for the Week of July 24, 2020
FINANCIAL NEWS HIGHLIGHTS OF THE WEEK A tug of war between encouraging vaccine news and hopes of new economic stimulus, and early indications that the recovery might be stalling, is fueling financial market volatility. Jobless claims rose to 1.42…