Mar 08 2024 20 mins 1
In this week's Market Minutes recap, hear from our team of investment experts as they share their perspectives on the latest market and economic activity. Our panel shares detailed insights into the Purchasing Manager’s Index, the JOLTS report, the employment report, the Fed, the yield market, the stock market, and anticipated U.S. spending.
Speakers:
Brian Pietrangelo, Managing Director of Investment Strategy
George Mateyo, Chief Investment Officer
Jim Kerrigan, Senior Fixed Income Portfolio Manager
Steve Hoedt, Head of Equities
01:26 – The Institute of Supply Management reported their Purchasing Manager’s Index at 52.8% for the month of February. This is approximately a 0.8% decrease from January
02:03 – The JOLTS report was announced and remained unchanged from December 2023, signifying employers are still actively searching for talent
07:02 – Comments stemming from Fed Chair Powell’s speech to Congress earlier in the week. The Fed and the Market are aligned to expect at least 3 rate cuts (around 75 basis points) this year beginning in June
09:06 – As a result of comments from the Fed this week, and what’s happening in the market, the yield curve has seen volatility this week
11:07 – The team discusses The Wealth Effect and its relation to the stock market. More specifically, how it relates to a decrease in stocks for some of the Magnificent 7, while the S&P 500 still holds strong
14:49 – A look into U.S. spending expectations as election season approaches
Additional Resources:
Key Questions: Should Investors Binge on (or Abstain From) the GLP-1 Craze? | Key Private Bank
Key Questions | Key Private Bank
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