Market Watch: Federal Reserve Holds Interest Rates, Stock Markets Surge, and Employment Numbers Unveiled

  • Home
  • Market Recaps
  • Market Watch: Federal Reserve Holds Interest Rates, Stock Markets Surge, and Employment Numbers Unveiled
Caucasian man and his African American colleague working in stock trading company discussing currency fall

Market Watch: Federal Reserve Holds Interest Rates, Stock Markets Surge, and Employment Numbers Unveiled

SPY
S&P 500

Last Week: 5.85%
YTD: 14.94%
1 Year: 19.03%

DIA

Dow Jones Industrial Average

Last Week: 5.06%
YTD: 4.42%
1 Year: 8.62%

ONEQ
NASDAQ

Last Week: 6.70%
YTD: 30.55%
1 Year: 32.11% 

Russell 2000

Last Week: 7.57%
YTD: 1.20%
1 Year: .54% 

Large Growth

YTD: 26.08%
1 Year: 19.94% 

*As of 10/31/2023

Large Value

YTD: .56%
1 Year: 2.86% 

*As of 10/31/2023

The Federal Reserve

The Fed concluded their two-day conference last Wednesday. They unanimously agreed to hold interest rate hikes for the month. They will meet again in December to discuss additional rate increases. So far, we have had 11 total increases, four of those in 2023. Fed Chairman Jerome Powell stated, “the process of getting inflation sustainably down to 2% has a long way to go.” The committee continues to evaluate monetary policies and monetary tightening measures to fight inflation and strong consumers.

US Stock Markets

Last week, all major stock indices had their best week of the year. Corporate earnings have been a bright spot to start the month. Investors are hopeful the Federal Reserve will curtail rate hikes, which will make fixed income less attractive and drive buyers into the stock market.

Job and Payroll Numbers

Unemployment rose to 3.9%, the highest level since January 2022. US payroll numbers increased by 150,000, which was less than expected. Analysts had forecasted a rise of 170,000. These key employment numbers drove interest rates down, on expectations that inflation is cooling. The Federal Reserve closely watches wage data when deciding on interest rate changes.

  • Alex Wolfe

    Alex is a Certified Financial Planner™. He brings nearly a decade of experience working with individuals, families, and business owners. Prior to working for Base Wealth Management, Alex worked for Fidelity Investments and an independent wealth management firm in Venice, FL. Through many years of practice, he specializes in helping clients navigate their financial goals through comprehensive financial planning. He received his bachelor’s degree in economics from Texas A&M University.

    View all posts

Schedule a Consultation

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

SUBSCRIBE TO OUR YOUTUBE CHANNEL!

Click here to go to our YouTube channel and subscribe for weekly financial updates and more! We’d love your help to in getting to 500 subscribers!

Register for our Open House event!

2022 Tax Document Information

As a Base Wealth Management client, you should receive your paper tax documents via mail in the coming weeks. Or, if you previously had an online account with Pershing’s NetX360, you should be able to access your 2022 tax documents through that portal. 

If not, or if you experience any issues, please reach out to Tim O’Brien (tim.obrien@intervestintl.com).

Get a FREE Solo 401(K) Guide

Simply submit your name and email to receive a PDF straight to your inbox.

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.
 *We protect your data and HATE spam.
 

Get a FREE Roth 457 Guide!

Simply submit your name and email to receive a PDF straight to your inbox.

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.
 *We protect your data and HATE spam.
 

Get a FREE Roth 401(K) Guide

Simply submit your name and email to receive a PDF straight to your inbox.

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.
 *We protect your data and HATE spam.
 

Get a FREE Solo 401(K) 2-Pager for FireFighters

Simply submit your name and email to receive a PDF straight to your inbox.

"*" indicates required fields

Name*
This field is for validation purposes and should be left unchanged.
 *We protect your data and HATE spam.
 

Get a FREE copy of Divorce the IRS

If you would like to request a physical copy of Divorce the IRS, please fill out the form below.

"*" indicates required fields

Name*
Address*
This field is for validation purposes and should be left unchanged.
 *This book is most suitable for households with $250K or more in investable assets.
 

OOPS!

You’ve stumbled across an element that isn’t quite ready for the web yet. We’re working on a lot of new features so stay tuned.

-The Base Wealth Team

Choose your advisor

Dan DiLascia

Sean Koscho

Kyle
Howell

Josh
Pisa