In this episode Scott discusses:
- The markets had a terrific day and week last week. The Dow was up 1.19%, the Nasdaq 2.11%, and the S&P 500 1.53% on Friday.
- Futures point up this AM on preliminary predictions that inflation maybe tempering just one bit. See “Inflation Showed Some Signs of Easing in August” – WSJ.
- Year to date the major indexes recovered some this week with the Nasdaq now down 22.58% year to date and the S&P 500 now down 14.66% year to date.
- Oil heats up this AM and has risen to nearly $88 a barrel. But, Oil prices are down nearly $30 plus dollars over the last 3 months.
- Bitcoin has also risen to nearly $22,000.
- Treasury yields after hitting 12-month highs, seems to be softening one bit this AM.
- The Feds next meeting is Sept 20-21 and people largely expect the Fed to raise the Fed funds rate by 75 basis points.
- Analysts largely predict company earnings to soften for the latter half of the year. See “Sliding Earnings Pose Next Test for the Markets” – WSJ.