Economic Beat: Financial News

How will current market developments affect you? The thought leaders at Fifth Third Bank can help make sense of it all. Listen to the Economic Beat as they discuss what happened last week and what they expect will be the focus of this week. Click the button below to listen or read the transcript to this week's Economic Beat.

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Past Economic Beats

August 26, 2024

Equities Rise Amid Positive Earnings and Fed Comments

Last week, major U.S. equity indices rose, with the S&P 500 up 1.5%, the Dow Jones Industrial Average up 1.3%, and the Nasdaq Composite Index up 1.4%. Federal Reserve Chair Jerome Powell’s speech in Jackson Hole suggested a likely interest rate cut in September, with a 25-basis point reduction expected, though a 50-basis point cut is also possible. Housing data showed existing home sales increased by 1.3% month-over-month in July, breaking a four-month decline, and new home sales surged by 10.6%. Additionally, 30-year mortgage rates hit a new low for the year, and positive takeaways were present in corporate earnings reports, particularly in retail and technology.

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August 19, 2024

Best week for S&P 500 in 2024

Specifically, last week the S&P 500 returned 3.9%, the Nasdaq Composite gave investors 5.4%, the Dow Jones Industrial Average returned a 3.0%, and the Russell 2000 posted gains of 3.0%. The strong week for equity investors came on the backs of promising inflation and consumer data.

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August 12, 2024

S&P 500 Unchanged After Regaining Losses Following Monday Decline

The S&P 500 was essentially unchanged for the week after regaining most of its losses since last Monday’s sharp decline prompted by a weakening labor market and the unwinding of the yen carry trade. Companies in the S&P 500 reported second-quarter results about 4 percent above expectations, in line with long-term averages. Many investors are impatiently waiting for the earnings report from Nvidia, which will be released at the end of August. The unemployment rate also rose, mainly due to people entering the job market. The weak jobs report led investors to also reevaluate their expectations for Fed policy. Interest rate futures now signal a 70 percent chance that the Fed will cut rates by 50 basis points at its next meeting in September with futures showing an 85 percent probability that rates will be cut by at least 100 basis points combined before year-end.

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