weekly market update

Weekly Market Update: October 15, 2024

10/15/24

Investors Turn Attention To Earnings

The S&P 500 Index continued to grind higher, ending last week up 23% on a total return basis year-to-date. Third quarter earnings season began last week and investors will closely follow company reports for indications on 2025 corporate earnings and clues on the economy. Pepsi, Domino’s Pizza and large banks JP Morgan and Wells Fargo highlighted last week’s reports. While Pepsi and Domino’s were cautious on the strength of the consumer, the banks reported healthy consumer spending and characterized the economy as strong. On the economic front, the Consumer Price Index came in slightly higher than expected on both a core and headline basis, further tempering rate cut expectations for the balance of the year. Futures markets now expect an additional 50 basis points of cuts this year, down from 100 basis points immediately after the September meeting.


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This article contains general information only. Sunflower Bank, N.A. is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. This article is not a substitute for such professional advice or services, before making any decisions related to these matters, you should consult a qualified professional advisor.