Friends
Market participants seemed to be pleased with this morning’s CPI data which showed inflation in September rising at a rate of .3% on a monthly basis. At this point, the annual inflation rate is tracking at 3%. Those numbers are slightly better than analysts had expected and with the labor market softening it appears that the Fed has the green light to continue to lower the Fed Funds rate.
The market averages moved aggressively higher and by the close the Dow Jones Industrial Average was up 472 points to finish the day at 47,207. The S&P 500 was up 53 points to close at 6,791. The Nasdaq Composite Index was up 263 points to close at 23,204. Gold was down $27 to trade at $4,118 per ounce, while oil was down $.32 to trade at $61.47 per barrel WTI.
Just a heads up, I will be on vacation next week, so I’m asking you all to keep everything in order while I’m away. The Fed meets next week, so I’ll peek in on that and let you know what I think, but in the meantime Hunter, John, Matt, and Mike will all be available if you need anything.
Also, beginning this weekend, you’ll notice interactive emails that will be coming from us at CHJ, designed to make it easier for you to tell us what is on your mind. Hearing from you helps us serve you better, whether it’s understanding your concerns, celebrating what is going well, or learning what’s most important to you right now. These emails/messages will highlight things we do that you may or may not be aware of including tax planning and estate coordination. Our goal is to make it as easy as possible for you to communicate with us and help you feel confident about the path your financial plan is on.
Of course, you are always welcome to respond to our daily email with questions or comments or just pick up the phone the old-fashioned way and give us a call.
Have a great weekend everyone.
