It’s time to review last month’s key events and look ahead to what’s coming in the market and economic landscape. Download the latest edition of the Month-in-Review, developed by the Prime Capital Financial Investment Team!
Quick Takes
- Stock Markets Woes. Equity markets fell during a more challenging December after rallying November. A combination of Fed outlook changes, policy uncertainty, global conflict escalation, and other events hurt investors in December.
- Inflation and Interest Rates. The 10Y treasury yield rose in December from 4.2% to nearly 4.6%. Unemployment rose slightly from 4.1% to 4.2% and nonfarm payrolls increased by 227k. CPI inflation rose to 2.7% in November from 2.6% in October. PCE inflation came in at 2.4%, below the forecasted 2.5%. The Fed cut rates by 25 bps.
- Labor Strikes. Workers at Amazon and Starbucks went on strike leading into the holiday season in December. 5,500 Amazon workers across the country went on strike just 10 days before Christmas. The Starbucks strike began at a few locations in major cities on December 20. 5,000 baristas across the US were on strike by Christmas Eve.
- Assad Regime Falls. Syrian President Bashar al Assad’s government was overthrown by the opposition in Syria in early December after years of civil war. Assad had been in power for 24 years. The fall of his government was a geopolitical shock to Russia and Iran that were his main foreign backers.
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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.
