September 27, 2024 – We just experienced a significant week for the markets, marked by several noteworthy events that could shift the economic outlook. After the Federal Reserve announced a 50-basis point rate cut last week, China has now unveiled its largest stimulus package since 2020, signaling a proactive approach to support its economy and markets. This combination of actions raises important questions about the macroeconomic landscape moving forward.
Furthermore, the upward revision of U.S. Gross Domestic Income (GDI) suggests the economy is more in line with a soft landing. In the energy sector, Saudi Arabia has shifted its stance, abandoning its $100 oil target, meaning oil prices may remain low and help put a lid on gas prices and overall inflation. As well, global liquidity is beginning to improve and anti-dollar assets are gaining traction. Overall, it has been a very big week for the bulls, suggesting that optimism may be returning to the markets.
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