A Continued Summer Correction, The Fed Meeting & An ‘Are You Ready for Retirement’ Quiz
Join the Money Wise guys for another engaging and educational episode! The guys begin with a rapid-fire market recap. Here’s what last week looked like on Wall Street: The Dow was down 0.4%, the S&P 500 was up 0.8%, and the NASDAQ was up 2.3%. YTD the Dow is up 3.6%, the S&P 500 is up 14.7%, and the NASDAQ is up 29.8%. We’re seeing continued light volume as many investors prepare for the Labor Day holiday, keeping this traditional summer correction going. It’s mostly “steady as we go” through the dog days of summer, though this past week had a bit of volatility. The markets experienced a strong Wednesday, with an abrupt reversal on Thursday. This market choppiness was most likely due to remarks from the Fed governors. The Money Wise guys also discuss the volatility we’re seeing in the yield curve all across the Treasury market, and why August has been the worst month so far this year. With all three major indices in the negative for the quarter, the guys are hopeful for positive movement after Labor Day.
What is a Summer Correction?
This week, the Money Wise guys discuss our continued Summer Correction – but is this something we commonly experience in the summer months? First, remember that a market correction doesn’t necessarily mean a bull market has reached its end. A Summer Correction is a natural part of the market cycle, and it’s particularly likely to happen when we’ve seen significant growth in the first half of the calendar year, as we’re seeing in 2023. This Summer Correction is not particularly worrisome to the Money Wise guys, and it’s likely we will see more market growth after Labor Day and into the third quarter. For more on the current Summer Correction, check out these resources from U.S. News and The New York Times.
In the second hour, the Money Wise guys share an ‘Are You Ready for Retirement?’ quiz. You don’t want to miss the details! Tune in for the full discussion on your favorite podcast provider or at davidsoncap.com, where you can also learn more about the Money Wise guys or take advantage of a portfolio review and analysis with Davidson Capital Management.