Market Commentary
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The CPC Team
August 19, 2024
January 2023 Economic & Market Highlights
- As investors digested cooling inflation numbers towards the end of last year, all asset classes kicked off 2023 in strong fashion after a tumultuous 2022.
- The S&P 500 gained slightly more than 6% for the month of January, with corporate earnings reports coming in better than expected.
- The Federal Reserve reduced the pace of its interest rate hikes at its December meeting and is expected to announce a 25-basis point (0.25%) rate hike at its February 1 meeting.
- Inflation data indicated that Federal Reserve policy measures are starting to cool off red-hot price gains, and labor market statistics remain suggestive of a stable U.S. economy.
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