The PCIA Research Team has been hard at work, poring over the latest market data so that we can deliver our best insights to you. Take a look at the latest report covering what happened in the month of July 2024. You will find quick facts and in-depth details on what has occurred, what that means for you and what’s ahead in the market and economic environment. Download the newest edition of the Month-in-Review below!
Quick Takes
- Risk Assets Push Higher. As the summer reaches its peak, so too are risk assets nearing a climax. The market rallied for the month, but Large Cap equities were dethroned for July as Small Caps made a stellar run for the month. Most major asset classes were positive for July.
- Disinflation Continues. Inflation, as measured by the CPI, showed promising signs of easing. The metric came in below expectations of +3.1% on the year-over-year calculation, landing at 3.0%. The Fed’s preferred metric of PCE, landed in-line with expectations of +2.5% on the year-over-year metric.
- Dollar Declines. As inflation pressures continued to show signs of easing, markets began to more aggressively price in a potential cut in interest rates, which led to the dollar declining against other major currencies for the month of July.
- Personal Spending and Labor Markets. Labor Markets showed signs of weakness with the Unemployment Rate bumping up to +4.1% in the July reading. With Labor Markets softening, it’s of little surprise that Personal Income landed below market expectations while Personal Spending came in-line with survey estimates for the month of July.
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This article is not to be construed as financial advice. It is provided for informational purposes only and it should not be relied upon. It is recommended that you check with your financial advisor, tax professional and legal professionals when making any investment or any change to your retirement plan. Your investments, insurance and savings vehicles should match your risk tolerance and be suitable as well as what’s best for your personal financial situation.
