Our PureVest Weekly Roundup reviewed the headlines that caught our eye this past week. President Biden and China’s Xi are expected to meet in person next week. After 18 months of hiking rates, central banks from around the world are expected to halt their tightening cycles; is a rate cut next? Mortgage rates dropped the most since November 2022 but remained high at over 7.5%. The IRS announced tax brackets and the standard deduction for 2024 as they try to keep up with inflation. Despite continued geopolitical risks, Oil prices fell to a 4-month low. The Federal Reserve issued their updated Survey of Consumer Finances, which shows the average household net worth in America rising by over 30% in the past 3 years. Disney reported earnings earlier this week and increased their cost-cutting target.
Moving averages can be very helpful indicators of the current stock market trend. We took a quick look at what a moving average is, how they are calculated, and some examples in our Education article. Moving averages are often referred to in finanical media so it’s good to have an understanding of them even if you are not a market trader. Enjoy the light reading, and have a great weekend!
Markets & Economy:
Biden to meet Xi on Wednesday in San Francisco Bay area, U.S. says
source:www.cnbc.com
Central banks look to have hit peak rates. Here’s how markets think they’ll come down
source:www.cnbc.com
Mortgage rates drop by most in a year, unleashing more homebuyer demand
source:www.yahoofinance.com
IRS sets new tax brackets, standard deduction for 2024
source:www.foxbusiness.com
U.S. crude oil prices fall below $78 a barrel to their lowest since July
source:www.cnbc.com
Here’s the average net worth of Americans by age
source:www.thehill.com
Disney stock gains 7% as cost-cutting target reaches $7.5 billion, subscribers surge
source:www.yahoofinance.com
Education:
What Is a Moving Average (MA)?
source:www.investopedia.com