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Market Watch: Inflation Measures Cool, Container Rates Surge, UK-Switzerland Pact

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Container ship in red sea

Market Watch: Inflation Measures Cool, Container Rates Surge, UK-Switzerland Pact

SPY
S&P 500
Last Week: 0.57%
YTD: 24.38%
1 Year: 24.19%
DIA

Dow Jones Industrial Average

Last Week: 0.16%
YTD: 12.86%
1 Year: 12.47%
ONEQ
NASDAQ
Last Week: 1.20%
YTD: 45.13%
1 Year: 45.81% 
Russell 2000
Last Week: 1.85%
YTD: 16.19%
1 Year: 16.31% 
Large Growth
YTD: 36.63%
1 Year: 26.17% 
*As of 11/30/2023
Large Value
YTD: 5.03%
1 Year: 2.21%
*As of 11/30/2023

Inflation Eases

The Fed’s favorite inflation measure, the core personal consumption expenditure price index, rose 0.1% in November, up just 3.2% from last year. This is the Fed’s preferred inflation tracker, excluding the more volatile items like food and energy prices. A rise of 3.2% was below analysts’ expectations of 3.3%, further showing inflation is continuing to cool down. Also, in the report, consumer expenditure rose 0.3%, while income rose 0.4%. The stock market reacted little to this news, as the markets appear eager to learn more about the Fed’s interest rate decisions in 2024.

Container Rates

Global logistics managers are scurrying to divert freight ships away from the Red Sea to avoid attacks by Houthis. Ocean rate inflation has since skyrocketed, sending the price of a container to over $10,000. Just when supply chain issues and inflation started to come down since the Covid-19 pandemic, supply chain disruptions and costs are on the rise. Swedish furniture company Ikea has already reported they will likely have a supply shortage at their stores from the delay.

U.K. and Switzerland Strike a Deal

The U.K. Prime Minister and his Swiss counterpart signed a new deal last week, the first of its kind in the post-Brexit era. The deal is for a better relationship for financial services related connectedness between the two. It will allow them to streamline business relationships between firms and individuals, granting access to more banks, insurers, and asset managers. The deal will also allow wealthy individuals in the U.K. to be served by firms in Switzerland.
  • 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.

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