This week could end up being pivotal for markets. Headlines about the Federal Reserve, Inflation, and Interest Rates have dominated the news for the past 18 months. Many believe the narrative around these topics shifted this week. The inflation numbers for October came in better than expected as CPI hit a two-year low. This follows last week’s announcement where the Federal Reserve all but signaled an end to their hiking cycle. So, what does this mean, and what was the market reaction? The market rallied strongly on Tuesday and held its gains all week… Interest rates fell sharply. The narrative shifted from… When will the Fed stop hiking rates, to when will they CUT RATES? Despite this news, assets in money market funds hit a record high. If rates continue to fall and the market stays strong, money can flow out of money markets and back into equities, fueling a continued rally into 2024. Our PureVest Weekly Roundup has several articles centered around the above mentioned critical topics. Enjoy the light reading, find a new recipe for Thanksgiving below, and have a great weekend!
Markets & Economy:
Inflation was flat in October from the prior month, core CPI hits two-year low
source:www.cnbc.com
U.S. 10-year Treasury yields drop to two-month lows
source:www.yahoo.com
Mortgage demand surges to 5-week high after recent drop in mortgage rates
source:www.foxbusiness.com
Takeaways from Biden’s long-awaited meeting with Xi
source:www.apnews.com
Big Box Retailers Ease After Walmart Guidance, Target Surprise Spike
source:www.investors.com
Microsoft is finally making custom chips — and they’re all about AI
source:www.theverge.com
U.S. Money-Market Fund Assets Climb To Record $5.73 Trillion
source:www.fa-mag.com
The market thinks the Fed is going to start cutting rates aggressively
source:www.cnbc.com
Just For Fun:
Thanksgiving dinner will be cheaper this year as turkey prices slide
source:www.cnbc.com
TODAY’s 20 most popular Thanksgiving recipes from all-star chefs
source:www.today.com
What Is Tryptophan?
source:www.sleepfoundation.org