Weekly Market Recap, Friday 16-Aug
Manage episode 434639566 series 2964054
US equities were higher this week as the S&P 500 and Nasdaq broke four-week streaks of declines and posted their best weekly performances since November of 2023. July core CPI was in line with consensus, though the three-month annualized core CPI pace of 1.57% was the slowest since Feb-21, while the six-month annualized pace of 2.84% is the lowest since March-21. Fedspeak leaned more dovish this week, with Atlanta's Bostic warning that the Fed needs to be more mindful of the employment mandate, while Chicago's Goolsbee said that the Fed needs to cut rates before the labor market weakens further, or it would risk moving too late and negatively impacting the economy.
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