Market Insights - November 22, 2023

Happy Thanksgiving everyone!!! 2023 continues to be a great year for stocks! The S&P 500 is up +19.10% and the Nasdaq 100 is up an astounding +46.87%!! The market is now less than 1% away from our year end target of 4,600. With billions sitting on the sidelines in cash, or tucked into risk free treasury bills, there remains enough fuel to push stocks even higher. We expect the Fed to hold interest rates steady at their next meeting on Dec 13th, and with the market anticipating this, off the solid drop in CPI and PPI inflation measures, stocks are reacting favorably. With the market now in over-bought territory, do not be surprised to see a brief pullback in prices, before the final push higher into year end. Remember though, markets can and will do anything at any time, and events could unfold in the blink of an eye that changes the outlook for the market…so as always, tread with caution and be ready for anything! Focusing on the long term, erases many investment setbacks or mistakes! Hang in there!
© 2023 Parisi Gray Wealth Management. All rights reserved. Disclaimer: The content of this article is the work of John F. Parisi, Certified Investment Management Analyst. It is provided for informational purposes only and is not considered and offer to buy or sell securities nor as investment advice, as each client’s situation is personal to them. Our research and comments are based on information we find credible, however perform your own due diligence as errors of information can occur. If you are not a client of Parisi Gray, talk to your financial advisor before acting on any of the topics discussed in this video. This video is provided for informational purposes only and should not be construed, as investment, accounting, tax or legal advice