[PDF] Executive Talk.... Stock Market Outlook.... TOP 10 Favourite Stocks - Achats

Interest Rates Headed Higher?

Inflation, interest rates and the labor market will likely continue to dominate Wall Street headlines in September. The consumer price index gained 3.2% year-over year in July, down from peak inflation levels of 9.1% in June 2022 and below economists’ estimates of a 3.3% gain. The headline CPI reading was also up just 0.2% on a monthly basis for th...

U.S. Recession Watch

In August, the Fed got mixed news in its efforts to navigate a “soft landing” for the U.S. economy. In addition to CPI inflation coming in below expectations, the personal consumption expenditures (PCE) price index was up 3.3% year-over-year in July, up from its 3% gain in June. Core PCE inflation, which excludes volatile food and energy prices and...

Earnings Slowdown

Even if the U.S. avoids a recession, the S&P 500’s impressive rally in 2023 hasn’t been supported by underlying economic fundamentals. S&P 500 companies reported their third consecutive quarter of negative year-over-year earnings growth in the second quarter. Meanwhile, the S&P 500’s forward price-to-earnings ratio has crept up to 19.2, about 10% a...

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