The S&P 500 has outpaced major stock indexes in Europe and Asia since hitting its low for the year in mid-June. The U.S. benchmark has risen 6.6% since June 16, while the pan-continental Stoxx Europe 600 has added 2.9%, Japan’s Nikkei 225 has advanced 4.5%. Germany’s DAX and the Shanghai Composite have slid 1.3% over the same period.
This week investors will parse data from the services sector and the so-called beige book, the Federal Reserve’s periodic compilation of business anecdotes from around the country, for clues about the market’s trajectory. They will also watch the European Central Bank monetary policy meeting where the bank is again expected to raise interest rates.from Friday’s jobs report, at least initially. The U.S. economy added jobs at a solid, but slower, clip in August.
by steeply raising interest rates, even if it leads to an economic slowdown. The S&P 500 has fallen for three consecutive weeks, bringing its losses for the year to date to 18%. Meanwhile, the U.S. dollar, considered a haven asset for investors across the world, has surged to a 20-year high. That has—including the Japanese yen, euro and British pound—to their weakest levels in decades. When the dollar gains, it makes stock returns more attractive when compared with local securities.
Jerry Braakman, president and chief investment officer of First American Trust in Santa Ana, Calif., said he is seeking safety in the U.S. Treasury bonds, cash and defensive stock sectors this year. He isn’t looking to add to his international equity exposure, such as in emerging markets, China, Japan and Europe in the near term, he added.
Thank you President Biden! POTUS
TheMaverickWS
Biden’s crash is coming