October 19, 2022
Good morning,
Futures are off just a bit this morning (-.3%), following two rally days for the S&P 500, now up +3.82% for the week.
The next two weeks may be choppy but sideways for markets with little important economic data around the Inflation-Fed narrative leading right into the next Fed meeting on November 2nd. There will be earnings to digest and an election to get through, but markets are currently being driven by the future interwoven paths of inflation, Fed tightening and recession. Anything not directly connected to that narrative is likely to be just noise.
Last night, our Investment Office, led by Stuart Katz, our CIO, introduced new charts. The charts contained a variety of subjects all connected to investing. I’m posting one below and I’ll send you a link to all of them on Friday – but this one chart stood out to me as a reminder of what has happened historically following periods of significant market decline. Past performance is no guarantee of the future, but the chart is worth considering in these very difficult times for all investors.
Be well,
Mike