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Falling oil prices and the in-line CPI were just what Wall Street needed to finish off a bad week. The major indices all gained Friday, snapping a four-day long tumble that had already locked in a losing week.
New developments in the war with Iran, both in the Middle East and back here at home, continue to come out rapidly. For the latest on the hostilities and efforts to reach a deal, updates can be found here.
The pace of inflation showed no signs of cooling off last month. Led by higher gas prices, the latest CPI data remained well above the Fed's target in August, raising the likelihood that a rate hike is coming.
Wholesale inflation, often a precursor to consumer price moves, was a bit choppy last month. The overall yearly PPI would jump back above the 5% level in August, but core PPI cooled more than expected.
U.S. consumers are dealing with another bitter case of inflation anxiety. The initial sentiment survey reading for September fell sharply, and if it holds for the month, it would be the second lowest in history.
After this past week's inflation readings, all eyes will turn to Wednesday's vote by the Fed on interest rates. The odds point to a rate increase being a near certainty, but will the central bank follow through?
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