My Stock/Market Alert is an event driven brief about a stock OR the stock market when noteworthy action occurs. Today was certainly noteworthy. I am calling it “Chips and Dip”…
Expect the frequency of my Stock/Market Alert notes to be consistent with meaningful moves in a specific stock held by BAM Portfolios or the stock market.
For many years, I have written my Today’s Market Update when the major indexes drop > 3%. I have not had an occasion to do that since September 13, 2022. That, of course, is both good and bad.
The other, and typically more frequent, notes a send you about your stock investments in my Stock/Market Alert. The last one of these was November 14, 2023. They are an event driven brief about a stock OR the stock market when noteworthy action occurs. Today’s decline in PARTS of the stock market – plus this week and month – is worthy of an Alert.
Some quick take-aways from the current market action:
Today was worst day for Nasdaq index since last October.
This was the Nasdaq’s worst week since January 2022.
The SP 500 had its worst weekly loss in 13 months.
The recent SP 500 and Nasdaq indices closed down today scoring a 6-day losing streak – – their longest since October 2022.
The technology stock sector fell 9% this week
Overall, the U.S. stock market has had a 5% decline for the first time in 5 months, after rallying 27% (SP 500).
The table of today’s stock market indexes below shows the “parts” of the market that were down today:
soLower inflation, higher equity prices? It appears so. Again, today’s big stock market gains came on the weak, lighter-than-expected inflation in the U.S. Consumer prices were flat in October vs. the prior month. Plus, core prices, which exclude energy and food, rose 4% year over year, slightly below consensus view for a 4.1% gain. The inverse relationship between inflation and the stock market has been a repeated theme since early 2022. Last year’s bear market was on of the worst for growth stocks, sparked by rapidly rising inflation. The tide has turned.
Earnings matter, too. Wall Street sees earnings rising 60% this year to $3.64 a share for the SP 500 and up another 19% in 2024. The combo deal of strong earnings and tame inflation make for an appetizing stock market for investors.
Call anytime you have questions. I am always happy to help.
Blackhawk Wealth Advisors is the parent corporation of Equity Research & Portfolio Evaluation and Blackhawk Asset Management. It’s Chief Investment Officer is John J. Gardner. John is a Certified Financial Planner (CFP®) and Certified Portfolio Manager (CPM®)
Blackhawk Wealth Advisors employs a collaborative, multi-generational model by using tax efficient and risk mitigation strategies to maintain your current lifestyle while meeting your long term needs and goals. BWA brings together all aspects of your financial life with the expertise of ERPE and BAM.
Blackhawk Asset Management
At BAM, we take the research we obtain from ERPE and utilize it to manage our clients’ assets. Our founder, John Gardner, CFP®, CPM®, offers high net worth investors experienced investment portfolio management based on a disciplined methodology. John is one of the nation's approximately 400 Certified Portfolio Managers and has managed billions of dollars in equity portfolios over his professional career since 1984. He has created four effective, proprietary portfolios: Thematic Growth, Strategic Income, Diversified Value, and Global Opportunity, which have helped clients prosper.
More Info
Equity Research & Portfolio Evaluation
Equity Research & Portfolio Evaluation (ERPE) utilizes its propietary approach in analyzing investments. Its proven success researching equities is based on a blend of fundamental and technical analysis. ERPE's time-tested Top 10 Tenets guide the investment process to achieve Portfolio Optimization: This is through minimizing risk without sacrificing return.
