Weekly Market Recap – December 2, 2022 Fed Chairman Powell signaled that the central bank is poised to ease borrowing costs, saying, “the time for moderating the pace of rate increases may come as soon as the December meeting.” Congress cleared the way to prevent a nationwide railroad strike. President Biden said he is willing

Weekly Market Recap – November 25, 2022 Continuing Russian attacks on power plants and other energy infrastructure targets have left an estimated six million Ukrainians in the cold and dark. Black Friday spending hit a record $9.12 billion, despite inflation and recession fears. Economists watching holiday activity are also focused on the potential threat of

Weekly Market Recap – November 18, 2022 The U.S midterm election vote count was finally completed, giving the GOP control of the House, with the Democrats controlling the Senate. Ahead of the G20 summit, President Biden and China’s president Xi Jinping agreed to restart climate change talks; the world’s two largest economies are also the

Weekly Market Recap – November 11, 2022 Russian troops withdrew from Kherson and its surrounding region in Ukraine’s south. It was the first major Ukrainian city occupied after President Putin ordered the invasion nine months ago. On Friday, FTX filed for bankruptcy in the wake of the crypto exchange’s crash that wiped out an estimated

Weekly Market Recap – November 4, 2022 Russia’s President Putin suspended the Ukraine grain export deal, only to reverse his position a few days later, causing a volatile whipsaw in international wheat prices. Saudi Aramco, the largest oil company in the world, announced a record quarterly net profit of $42 billion, more than double what

Weekly Market Recap – October 28, 2022 The average 30-year mortgage rate soared beyond 7%, its highest level since 2002. Britain’s Conservative Party selected Rishi Sunak as the next prime minister; he will be the youngest to serve as PM in two centuries. Elon Musk completed his $55 Billion deal to acquire Twitter; after taking

Weekly Market Recap – October 21, 2022 After six weeks as the British prime minister, Liz Truss resigned her post, making her the shortest-serving PM in the nation’s history. Her plans for tax cuts and deregulation had sent UK financial markets spiraling. Vladimir Putin declared martial law in four annexed Ukrainian territories, and Russia attacked

Weekly Market Recap – October 14, 2022 On Monday, Russia launched a barrage of missile attacks that hit Kyiv as well as ten other Ukrainian cities. According to President Putin, the strikes were in retaliation for the destruction of a section of the bridge linking Russia to the Crimean Peninsula. Tuesday’s report from the IMF

Weekly Market Recap – October 7, 2022 The U.S. gross national debt exceeded $31 trillion for the first time, nearing the statutory $31.4 trillion ceiling placed by Congress. Saudi Arabia and Russia, the leaders of the OPEC Plus cartel, announced a 2 million bbl. per day production cut, the largest in two years. North Korea

Weekly Market Recap – September 30, 2022 On Monday, the British Pound sank to a record low of £1.03 per USD. To bolster the UK economy, on Wednesday, the Bank of England announced a £65 billion long-term bond-buying program starting with the purchasing of £1.4 billion in 20 year gilts. Hurricane Ian made landfall in