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In this week’s recap: Markets down ahead of the Thanksgiving holiday.







THE WEEK ON WALL STREET

The stock market edged lower last week as it digested a crosscurrent of conflicting economic data and contrasting comments from Fed officials.

The Dow Jones Industrial Average was flat (-0.01%), while the Standard & Poor’s 500 declined by 0.69%. The Nasdaq Composite index lost 1.57% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, fell 0.88%.1,2,3


STOCKS SLIP

Stocks took a spill after Fed officials' comments cast uncertainty about future rate hikes. The more hawkish comments soured investor hopes of an imminent easing in Fed rate hikes, a prospect that had helped fuel the market rally the previous week.

Concerns over the hawkish comments raised investor worries over recession risks, anxiety exacerbated by weak housing data and layoff announcements from major technology companies. The economic picture, however, included some encouraging news as retail sales rose and producer price increases moderated.


PRODUCER PRICES EASE

The Producer Price Index (PPI), which reflects the costs paid by domestic producers, seen as an indicator of future consumer prices, is not typically a market-moving event. That was not the case last week.

October's PPI rose a modest 0.2%, well below the 0.4% consensus estimate. The year-over-year increase moderated to 8.0%, compared to 8.4% in September and the peak of 11.7% in March. The eye-catching element may have been the 0.1% service decline, representing the first decline since November 2020. Excluding food and energy, the PPI was flat for the month and up 6.7% from a year ago.4


A FINAL WORD

We wish you and your family a wonderful Thanksgiving and express our gratitude for the privilege of working with you. Happy Thanksgiving!

NYSE composite index-

Composite index covering price movements of all new world common stocks listed on the New York Stock Exchange. It is based on the close of the market on December 31, 1965, at a level of 50.00, and is weighted according to the number of shares listed for each issue. Print changes in the index are converted to dollars and cents so as to provide a meaningful measure of changes in the average price of listed stocks. The composite index is supplemented by separate indexes for four industry groups: industrial, transportation, utility, and finance.

Source


Hello Faye,


October’s Consumer Price Index (CPI) had some encouraging news for investors, but others asked, “Is this a game changer or another head fake?”

 

While it’s a bit early to know the answer, it was great to see that inflation rose at a slower-than-expected rate in October. The financial markets welcomed the report as investors hoped the news might influence the Fed’s decision about future rate adjustments.

 

Fed Chair Powell knows that few financial events can be as devastating as high inflation over time – especially for those living on a fixed income. So, the Fed has been committed to raising short-term rates this year to slow the economy and, in turn, slow inflation.

 

So, if you held my feet to the fire, would I say the CPI report was a game changer or a head fake? Well, I’m 100% optimistic that the Fed is committed to managing inflation and the current CPI trend appears to be moving in a constructive direction. If you have any questions about current or future market conditions, don’t hesitate to ask! We’re always happy to help. I can be reached at 800-871-1219 or Fsykes@scarletoakfs.com. Hit the Meet with Faye button if you want to schedule an appointment. 

 

Letter citation below

Thanks,

Faye Sykes
CEO, Independent Wealth Manager, CLTC & NSSA
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THE WEEK AHEAD: KEY ECONOMIC DATA


Wednesday: Durable Goods Orders. Jobless Claims. Purchasing Managers’ Index (PMI) Composite. New Home Sales. Consumer Sentiment. FOMC Minutes.


Source: Econoday, November 18, 2022

The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.

 


THE WEEK AHEAD: COMPANIES REPORTING EARNINGS

Monday: Dell Technologies, Inc. (DELL), Zoom Video Communications, Inc. (ZM).


Tuesday: Best Buy Co., Inc. (BBY), Dollar Tree, Inc. (DLTR), Autodesk, Inc. (ADSK), Analog Devices, Inc. (ADI).


Wednesday: Deere & Company (DE).


Source: Zacks, November 18, 2022

Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.

While no one likes to think about their funeral, preplanned or prepaid funeral arrangements may be a financially smart move and may relieve your heirs of some stress when the time comes.


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Setting up your AdvisorClient Log-in will help with the smooth transition to Charles Schwab over the next 18 months. Get step-by-step instructions by clicking on the link to the left. If you need additional help contact us at 800-871-1219 or email Melinda at melinda@scarletoakfs.com.
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DAVID BRINKLEY 

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Faye Sykes
CEO, Independent Wealth Manager, CLTC & NSSA
Faye specializes in:

  • Social Security Planning and Preparation
  • Financial Planning and Wealth Management
  • Insurance and Disability Planning
  • Investment Strategies
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Presented By Faye Sykes, November 21, 2022

Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.

The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.

The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.

The Dow Jones Industrial Average is an unmanaged index that is generally considered representative of large-capitalization companies on the U.S. stock market. Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of technology and growth companies. The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia, and Southeast Asia. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.

U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if you sell a Treasury Note prior to maturity, it may be worth more or less than the original price paid. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.

International investments carry additional risks, which include differences in financial reporting standards, currency exchange rates, political risks unique to a specific country, foreign taxes and regulations, and the potential for illiquid markets. These factors may result in greater share price volatility.

Please consult your financial professional for additional information.

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Copyright 2022 FMG Suite.

CITATIONS:

1. The Wall Street Journal, November 18, 2022

2. The Wall Street Journal, November 18, 2022

3. The Wall Street Journal, November 18, 2022

4. CNBC, November 15, 2022

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