PUT IN WORK (12/18/2023)

The stock market has had perhaps its most courageous push yet, with indices soaring to levels last seen in January of 2022. Investors found their groove for almost all of last week, pushing the Nasdaq (QQQ) and S&P 500 (SPY) 3.4% and 2% higher, respectively. As of writing this article, futures are currently up as well, ranging from 0.1% to 0.2% up.

Today, we’ll be touching on more of the same from last week, but after the fact. As we all know by now, the market had a stellar week, most of which can be attributed to the Fed meeting and its results. The meeting took place last Tuesday and Wednesday, where the Fed used an abundance of surprisingly dovish language, pushing markets along. Furthermore, they mentioned the possibility of rate cuts coming into play at some point in 2024, and of course, there was no announced rate hike. The Fed believes their job is nearly complete, and they’ll soon be ready to take the next step. They revealed that they’ll be cutting rates six to seven times over the next two years.

This news resulted in the market’s seventh winning week in a row, continuing that end-of-year rally investors and analysts have been discussing for weeks. We should see inflation data get better and better over the next year if all goes well, and as it stands, the Fed is certainly within their 2% inflation target rate that they’ve been looking for for so long.

We look forward to the future of investing and are excited to see where it takes us.

(Nasdaq ETF (QQQ) price from December 2022 - 2023 — each candle is 1 week. Chart provided by tradingview.com.)

Many of our stocks made significant pushes alongside the market, with several seeing double-digit gains. One that stands out over these last seven weeks is Snapchat (SNAP), whose stock has moved up nearly 80% after incredible earnings. We plan to hold all currently owned stocks for the foreseeable future. As always, thank you for reading, and happy investing.