The Pulse on the Economy and Capital Markets: Mar 14 – 21, 2022

At a glance:

• The stock markets increased globally last week, even as the Fed announced the first of seven rate increases over the next year to combat inflation. This will bring the U.S. to a total increase of 1.75% to 2%.
• Investors embrace risk despite the announcement from the Fed, Nasdaq was up 8% and a Goldman Sachs composite of high growth, no profit tech companies increased more than 20% for the week.
• Despite the positive economic indicators, the Fed is worried about the impact inflation has on the consumer outlook. Even with a negative view on inflation, retail sales have remained positive for the last 6-to-7 months proving consumers are willing to spend money.
• Gas prices continue to rise nationally from less than $2 to more than $4. Retailers should prepare for consumers to shift their spending from discretionary and non-discretionary items and towards gas.
• As it relates to industry news, we’re reading about the passing of legendary investor and philanthropist, Michael Price, February housing starts were above expectations, Porsche in talks with Apple on possible joint projects and Chewy founder aims to bring an activist approach to Bed, Bath and Beyond.  

Related resources:

• The passing of legendary investor and philanthropist, Michael Price
• February housing starts: Most housing units under construction since 1973
• Porsche discussed possible joint projects with Apple
• Chewy founder aims at fixing Bed, Bath and Beyond

Disclosures

Investment advisory services are offered by Aprio Wealth Management, LLC, a Securities and Exchange Commission Registered Investment Advisor.  Opinions expressed are as of the current date (March 22nd, 2022) and subject to change without notice. Aprio Wealth Management, LLC shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, the information, data, analyses or opinions contained herein or their use, which do not constitute investment advice, are provided as of the date written, are provided solely for informational purposes and therefore are not an offer to buy or sell a security. This commentary is for informational purposes only and has not been tailored to suit any individual. References to specific securities or investment options should not be considered an offer to purchase or sell that specific investment.

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