top of page

There Is No Fed Pivot

Scott Poore, AIF, AWMA, APMA

Just like when the bald child in "The Matrix" pointed out there is no spoon, there is no Fed pivot on the horizon. Equities snapped a 4-week win streak last week as the reality begins to set in that the Fed isn’t finished raising rates.

Investors have been clinging to hopes of a Fed pivot that isn’t going to happen, at least not yet. Futures for Fed Funds Rate hikes are point to continued increases through March of 2023. This realization seemed to hit investors last week. Stocks approached a key metric last week, the 200-day moving average, but quickly moved lower.


The technical metric is not the only bad news for bulls. According to the NAHB Housing Market index, the housing market has officially entered “contraction.”

Existing Home Sales declined for the 6th consecutive month and reached levels not seen since the beginning of the pandemic. Retail Sales were flat (0.0%) in July and have disappointed expectations in 6 of the last 9 months. The manufacturing data was mixed last week, as the Philly Fed index improved, but the NY Empire index plummeted—also reaching the lowest level since the pandemic. This week, the Richmond, Kansas City, and Chicago will be critical to determining the state of U.S. manufacturing. In addition, we will get a further peak at the U.S. consumer this week with Personal Spending. It could be a week of choppy trading.


Kommentare


EGBug.png

In Greek, Eudaimonia (U•da•mōn•ēya) means contented state of health, happiness and prosperity.

INDEPENDENCE FOR FINANCIAL ADVISERS

 

615.205.3510 | thrive@eudaimoniaRIA.com
 

818 18th Avenue South, Suite 950
Nashville, Tennessee 37203

1791 Bypass Road

Winchester, TN 37398


 

Investment advisory services offered through Eudaimonia Partners, LLC, Eudaimonia Advisors, LLC and Eudaimonia Asset Management, LLC, our federally registered investment advisors. Eudaimonia Partners, LLC, Eudaimonia Advisors, LLC and Eudaimonia Asset Management, LLC are affiliated registered investment advisors under common ownership and control of Eudaimonia Group. LLC.

KEAP_Hero.png
Subscribe to the EG Blog

Thanks for subscribing! You will be notified when a new blog post is made.

©️ 2016-2025 Eudaimonia Group LLC. All Rights Reserved. 

Website Disclosures and Terms of Use

Regulatory Disclosures

Newsweek_TopAdvisors.png
bottom of page