S&P 500 Soaring Beyond 2022 Blues

The S&P 500, after a steady rise on Wall Street, reached a new high for the year, closing at 4,594 on Friday.

This represents a significant turnaround after a challenging summer, attributed to the Federal Reserve's decision to scale back its aggressive interest rate hiking strategy.

Tech giants, Amazon, Disney, and Apple reported strong profit growth, aiding the S&P 500's surge.

But amidst the optimism, caution prevails. Federal Reserve Chairman, Jerome Powell emphasized the uncertainty of the central bank's efforts to combat inflation, and the possible rollback of interest rate hikes. His remarks come as 10-year U.S.

Treasury yields hit a three-month low, reflecting investors' cautious approach.

Whether this upward trend will continue into next year is still TBD.

There are contrasting predictions from Goldman Sachs and Morgan Stanley, forecasting the S&P 500 to reach 4,700 and 4,500 respectively by year-end.

Despite the Federal Reserve's decision to keep the target federal funds rate flat, interest rates remain at their highest in over two decades, suggesting further rate increases are possible.

We’ll keep you up-to-date frequently on the latest from J-Pow and the Fed crew as well as what we’re seeing across global markets.

Now is not the time to sit back obliviously, nor a time to panic.

“Don’t Be Scared. Be Prepared.”

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