| Our PureVest Weekly Roundup looked at the latest comments from Fed Chairman Powell. Lately, he has shifted his tome from “higher for longer” to “we can’t wait too long to cut.” Economists are now pricing in the first rate cut in September. Mortgage rates dropped to a 4-month low and could continue lower if bond yields continue dropping. Netflix beat earnings boosted by their newest ad-supported membership. Chip stocks got hit hard this week, which led several analysts to come out with a “buy the dip” call. Goldman Sachs reported solid earnings earlier this week. We also added an outlook for stocks for the rest of 2024. Enjoy the light reading, and have a great weekend. |
| Markets & Economy: Powell indicates Fed won’t wait until inflation is down to 2% before cutting rates source:www.cnbc.com Average rate on a 30-year mortgage drops to 6.77%, sliding to lowest level since March source:www.apnews.com Global tech outage disrupts industries, highlights online risks source:www.reuters.com Netflix beats estimates as ad-supported memberships rise 34% source:www.cnbc.com Chip Stocks Sell-Off Fuels Calls To Buy the Dip source:www.investopedia.com Goldman Sachs tops estimates on better-than-expected fixed income trading source:www.cnbc.com Stock Market Forecast For The Next Six Months Is Stacking Up Well. But Don’t Ignore These Risks source:www.investors.com |