Forest Hills Financial Group

⬇️ #WEEKLYMARKETUPDATE ⬇️ Last week was huge in terms of earnings and economic news and the major indices closed mostly lower.   The S&P 500 declined 1.4%, the #NasdaqComposite declined 1.5%, and the #DowJones Industrial Average settled 0.2% lower. The #Russell2000 eked out a 0.1% gain last week.   Alphabet (#GOOG) and Amazon.com (#AMZN) closed 3.4% and 5.4% higher, respectively, on the week after their quarterly reports. Apple (#AAPL), Meta Platforms (#META), and Microsoft (#MSFT) closed with losses ranging from 1.1% to 4.2% following their earnings reports.   #AdvancedMicroDevices (#AMD) was an influential loser, dropping 9.2% after reporting earnings and soft Q4 revenue guidance. The #PHLXSemiconductorIndex (#SOX) settled 4.1% lower than last Friday.   In terms of economic news, market participants were digesting: 📰 Initial #joblessclaims that were a low 216,000, the Q3 #EmploymentCostIndex that was up 0.8%, personal income that was up 0.3% month-over-month in September, personal spending that increased 0.5%, and the core-PCE Price Index was stuck at 2.7% year-over-year for the third straight month   📰 Private-sector #payrolls, which increased by 233,000 in October, according to ADP, real GDP, which increased at an annual rate of 2.8% in the third quarter (Briefing.com consensus 3.0%), bolstered by a 3.7% increase in #consumerspending, and #pendinghomesales that jumped 7.4% in September (Briefing.com consensus 2.5%)   📰 Nonfarm payrolls that increased by just 12,000 (Briefing.com consensus 120,000) while nonfarm private payrolls decreased by 28,000 (Briefing.com consensus 105,000). The October #ISM #ManufacturingPMI fell to 46.5% (Briefing.com consensus 47.6%)—the lowest reading in 2024   Finally, #Treasuryyields settled sharply higher last week. The 10 - yr yield jumped 13 basis points to 4.36% and the 2-yr yield settled ten basis points higher at 4.20%.   ➡️ Nasdaq Composite: -1.5% for the week / +21.5% YTD ➡️ S&P 500: -1.4% for the week / +20.1% YTD ➡️ Dow Jones Industrial Average: -0.2% for the week / +11.6% YTD ➡️ S&P Midcap 400: -0.2% for the week / +11.6% YTD ➡️ Russell 2000: +0.1% for the week / +9.0% YTD   Read it here: https://lnkd.in/eYEUa4if  

#HappyHalloween 2024 #FHFG #TrickorTreat

⬇️ #WEEKLYMARKETUPDATE ⬇️ The #stockmarket faced some selling pressure after six straight weeks of gains for the S&P 500.   Last Friday's close had the S&P 500 and #DowJones Industrial Average at record highs, so normal consolidation was part of the story this week.   The S&P 500 closed 1.0% lower this week and the Dow Jones Industrial Average sank 2.7%. The profit-taking activity was fueled by rising market rates. The 10-yr yield settled 16 basis points higher this week at 4.23% and the 2-yr yield settled 15 basis points higher this week at 4.10%. This week's selling in the #Treasurymarket expanded the 2s10s spread by a basis points to 13 bps.   The #NasdaqComposite managed to settle 0.2% higher for the week, benefitting from buying activity in mega caps and #semiconductorshares. Some of the buying in mega cap shares was related to the huge jump in #Tesla (#TSLA) following impressive Q3 earnings and 2025 vehicle growth forecast.   Other names that reported earnings included blue chip companies like #Verizon (#VZ), #3M (#MMM), #GEAerospace (#GE), #LockheedMartin (#LMT), #GeneralMotors (#GM), #IBM (IBM), and #Honeywell (#HON).   ➡️ Nasdaq Composite: +0.2% for the week / +23.4% YTD ➡️ S&P 500: -1.0% for the week / +21.8% YTD ➡️ Dow Jones Industrial Average: -2.7% for the week / +11.7% YTD ➡️ S&P Midcap 400: -2.8% for the week / +11.7% YTD ➡️ Russell 2000: -3.0% for the week / +8.9% YTD   Read it here: https://lnkd.in/eUhpw-eh

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⬇️ #WEEKLYMARKETUPDATE ⬇️ The #stockmarket closed out another #winningweek with the S&P 500 and Dow Jones Industrial Average at fresh record highs.   The #Russell2000 (1.9%) pacing index gains, the S&P 500 settled 0.9% higher, the #NasdaqComposite jumped 0.8%, and the #DowJonesIndustrialAverage rose 1.0%.   The equal-weighted S&P 500 settled 1.1% higher than last Friday.   The #PHLX #Semiconductor Index (#SOX) dropped 2.4% last week in response to a #Bloomberg report that the Biden administration is looking at curbing sales of advanced #AIchips to certain countries, with a focus on Persian Gulf countries, and in response to #ASML's (ASML) Q3 results.   #TaiwanSemiconductorManufacturingCompany (#TSM) reported pleasing Q3 results, along with better-than-expected Q4 guidance, which stirred some buy-the-dip interest in the space by the end of the week.   A lot of the #earningsnews this week was well received, but #Dow component #UnitedHealth (#UNH) registered a sharp decline after reporting its third quarter earnings, which featured an increase in its medical care ratio, and issuing some tepid FY25 earnings guidance.   The only other sector besides #healthcare to log a decline was #energy (-2.6%), which was reacting to a drop in #oilprices. #WTI #crudeoil futures settled Friday at $68.62/bbl.   #MorganStanley (#MS) and #GoldmanSachs (#GS) were some of the standouts in the #financialsector.   Last week's releases included September #retailsales, which were stronger than expected, and initial #joblessclaims, which were not as bad as feared.   ➡️ Nasdaq Composite: +0.8% for the week / +23.2% YTD ➡️ S&P 500: +0.9% for the week / +23.0% YTD ➡️ Dow Jones Industrial Average: +1.0% for the week / +14.8% YTD ➡️ S&P Midcap 400: +1.4% for the week / +15.0% YTD ➡️ Russell 2000: +1.9% for the week / +12.3% YTD   Read it here: https://lnkd.in/eGwp_d-j

⬇️ #WEEKLYMARKETUPDATE⬇️ It was a somewhat choppy week for #stocks.   #IndustrialAverage set #recordhighs. The market placed #geopolitical worries, along with concerns about #HurricanesMilton and #Helene, on the back burner and focused on economic releases and #Fedpolicy instead.   The #SeptemberConsumerPriceIndex report was hotter-than-expected at the headline (actual 0.2%; expected 0.1%) and core (actual 0.3%; expected 0.2%) level. The year-over-year growth rate of core #CPI increased to 3.3% from 3.2% in August and the growth rate of headline CPI slowed to 2.4% from 2.5% in August.   #Investors also received weekly #joblessclaims, which totaled 258,000 versus last week's count of 225,000.   #SeptemberProducerPriceIndex and preliminary #consumersentiment data from October also supported the idea that the Fed will continue cutting rates.   #JPMorganChase (#JPM), #WellsFargo (#WFC), and #BlackRock (#BLK) all received positive responses to their earnings results.   ➡️ #Nasdaq Composite: +1.1% for the week / +22.2% YTD ➡️ S&P 500: +1.1% for the week / +21.9% YTD ➡️ #DowJones Industrial Average: +1.2% for the week / +13.7% YTD ➡️ S&P Midcap 400: +1.1% for the week / +13.4% YTD ➡️ #Russell2000: +1.0% for the week / +10.2% YTD   Read it here: https://lnkd.in/e9FU2Z-Z

Welcome to FHFG Ben Li!

Have an easy and meaningful fast for those who observe. #DayOfAtonement #YomKippur2024

⬇️ #WEEKLYMARKETUPDATE ⬇️ The #stockmarket traded lower through most of the week. The market slid under selling interest that was sparked by general profit-taking efforts after a big run in the third quarter and some nervousness related to a worsening geopolitical environment after #Iran fired missiles at #Israel, which prompted a vow of retaliation.   #WTI #crudeoil futures settled at $68.15/bbl last Friday and jumped to $74.40/bbl last Friday. This price action boosted the S&P 500 #energysector, which jumped 7.0% last week.   September #EmploymentSituationReport showed stronger-than-expected hiring, a drop in unemployment, and a rise in average hourly earnings.   The likelihood of a 50-basis points rate cut at the November #FOMC meeting dropped to 0.0% on Friday, down from 32.1% Thursday and 53.3% a week ago, according to the #CME #FedWatchTool.   Market participants were also dealing with growth concerns initially that were stirred by the start of the East Coast and Gulf Coast #dockworkersstrike. The strike was resolved, at least temporarily, by the end of the week.   #Treasuryyields moved sharply higher last week. The 10-yr yield jumped 23 basis points to 3.98% and the 2-yr yield settled 37 basis points higher at 3.93%.   ➡️ Nasdaq Composite: +0.1% for the week / +20.8% YTD   ➡️ S&P 500: +0.2% for the week / +20.6% YTD   ➡️ Dow Jones Industrial Average: +0.1% for the week / +12.4% YTD   ➡️ S&P Midcap 400: ‐0.03% for the week / +12.1% YTD   ➡️ Russell 2000: ‐0.5% for the week / +9.2% YTD   Read it here: https://lnkd.in/eYaepTgx