It’s time to review last month’s key events and look ahead to what’s coming in the market and economic landscape. Download the latest edition of the Month-in-Review, developed by the Prime Capital Financial Team!
Quick Takes
- Equities Rally. U.S. stock indices rose in August as investors were encouraged by strong earnings results from companies in Q2, continued investment in AI by large technology firms, and interest rate cuts in the last three months of the year. The S&P 500 rose 3.6% while the Nasdaq 100 rose 2.9%.
- Inflation and Interest Rates. The 10Y treasury yield fell in August to 4.2% as investors stepped-up bets that the Federal Reserve would cut rates through the end of the year. Fed Chair Powell hinted in his speech at Jackson Hole that the FOMC would be open to a rate cut in September.
- Russia-Ukraine & Oil Markets. Oil prices rose slightly in the back half of August as efforts to end the War in Ukraine fell short. Despite the Trump administrations efforts to end the war, Russian forces continued to carry out strikes on Kyiv, Ukraine’s capital, and other parts of the country.
- Nvidia Earnings. Nvidia reported earnings that generally exceeded expectations for Q2 despite the company’s data center revenue, which includes its sales of advanced chips, falling slightly short of analyst forecasts. Despite not selling to Chinese customers, Q2 revenue grew nearly 56% over the same period last year.
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This article is not to be construed as financial advice. It is provided for informational purposes only and it should not be relied upon. It is recommended that you check with your financial advisor, tax professional and legal professionals when making any investment or any change to your retirement plan. Your investments, insurance and savings vehicles should match your risk tolerance and be suitable as well as what’s best for your personal financial situation.
