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Market Review & Preview – Monday Morning Market Memo – July 1, 2024

Market Review & Preview – Monday Morning Market Memo – July 1, 2024

The major stock market averages finished little changed last week.  …

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Market Update – Monday Morning Market Memo – June 24, 2024

Market Update – Monday Morning Market Memo – June 24, 2024

Looking at last week’s action – the Standard & Poor’s 500 …

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How About that Jobs Report – Monday Morning Market Memo – June 10, 2024

How About that Jobs Report – Monday Morning Market Memo – June 10, 2024

The major stock market averages all finished higher last week.  …

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Earnings Wrap – Monday Morning Market Memo – June 3, 2024

Earnings Wrap – Monday Morning Market Memo – June 3, 2024

As we often say – earnings are the mother’s milk of …

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The Big 40! – Monday Morning Market Memo – May 20, 2024

The Big 40! – Monday Morning Market Memo – May 20, 2024

The “Big 40” we are writing about here does not …

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Losing Streaks Snapped & Earnings Action! – Monday Morning Market Memo – April 29, 2024

Losing Streaks Snapped & Earnings Action! – Monday Morning Market Memo – April 29, 2024

The major stock market averages all gained ground last week.  …

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Tech Retreat – Busy Week Ahead -Monday Morning Market Memo – April 22, 2024

Tech Retreat – Busy Week Ahead -Monday Morning Market Memo – April 22, 2024

The tech-heavy NASDAQ Composite lost 2% Friday, falling for its …

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Record Highs – Monday Morning Market Memo – March 25, 2024

Record Highs – Monday Morning Market Memo – March 25, 2024

All three major stock market equity indexes hit record highs …

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Market Update – Fed Ahead – Monday Morning Market Memo – March 18, 2024

After recently hitting a new all-time high, the stock market …

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All three major stock market averages gained ground last week.  The Dow Jones Industrial Average gained 1.3% to 39,132.  The NASDAQ Composite added 1.4% to 15,997.  The Standard & Poor’s 500 Index rallied 1.7% to 5,089.  For the Dow and the S&P 500, these are new record highs.  NVIDIA was a factor behind the market rally, as the company reported blowout earnings, revenues, and guidance – generating positive market sentiment.  NVIDIA was the center of the market’s attention last week with its shares jumping 16% after earnings, and its market capitalization surpassing $2 trillion at one point.     While NVDIA highlighted this earnings season, aggregate corporate earnings have also been solid/relatively strong.  According to LSEG I/B/E/S – of the 448 companies in the S&P 500 that have reported earnings to date for the fourth quarter of 2023, 77.5% have reported earnings above analyst estimates, which compares to a long-term average of 66.6% and prior four quarter average of 76.4%.  S&P companies are on track to have seen earnings increase by 10%.  These better-than-expected earnings, along with growing conviction future earnings will hold up and the economy can avoid a recession, have been fuel for the stock market rally, which is something new.     Previously, the market advance was supported primarily by hopes the Federal Reserve would be cutting interest rates.  However, investors have been walking back expectations on both the magnitude and timing of interest rate cuts, with the first fed rate cut now not expected until July.  This would normally be a negative for the stock market, but the positive outlook on earnings and the economy has filled that gap.     Looking to the week ahead, we’ll be tracking some notable earnings reports, along with an important read on inflation (the Personal Consumption Expenditures Price Index for January).  Companies scheduled to report earnings include Domino’s Pizza, Lowe’s, Best Buy, Salesforce, TJX Companies, and Snowflake.  On Thursday, the U.S. Bureau of Economic Analysis releases the PCE Price Index.  This is the Federal Reserve’s preferred inflation gauge, so it is widely watched and very important to the financial markets.  Consensus forecasts are for a 2.4% year-over-year increase.  Core PCE, which excludes food and energy, is expected to rise 2.8%.  The Fed generally targets an inflation rate of 2%.  With earnings season winding down, Fed policy, along with economic indicators, will be even more closely followed.  Any surprise on the inflation number could create some market volatility this week.     As always, don’t hesitate to contact us with any questions you may have, or if you would like to set up a meeting.         All the best – Southport Station Financial Management, LLC

Record Highs – Monday Morning Market Memo – February 26, 2024

All three major stock market averages gained ground last week.  …

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Record High – Monday Morning Market Memo – February 5, 2024

Record High – Monday Morning Market Memo – February 5, 2024

The Standard & Poor’s 500 Index closed at a fresh record high …

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Market Review & Preview – Monday Morning Market Memo – January 29, 2024

Market Review & Preview – Monday Morning Market Memo – January 29, 2024

After some encouraging economic data (moderate inflation and stronger-than-expected Gross Domestic Product growth), …

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Market Highlight – Monday Morning Market Memo – January 22, 2024

Market Highlight – Monday Morning Market Memo – January 22, 2024

All three major stock market averages advanced last week.  The Dow …

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Into Earnings Season – Monday Morning Market Memo – January 15, 2024

Into Earnings Season – Monday Morning Market Memo – January 15, 2024

Just a reminder that the financial markets, and our offices, …

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Win Streak Snapped – Monday Morning Market Memo – January 8, 2024

Win Streak Snapped – Monday Morning Market Memo – January 8, 2024

All three major stock market indices declined last week, snapping …

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