Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

Inflation Data Brings Holiday Cheer as We Head Into Year-End

by December 23, 2023
December 23, 2023
Inflation Data Brings Holiday Cheer as We Head Into Year-End

The markets were handed a holiday gift today after the Commerce Department reported that underlying inflation pressures are continuing to slow down. This has left more income at the disposal of households which, in turn, is helping to strengthen consumer spending and the overall economy. The news sets the stage for interest rates to continue to decline as well, with rate cuts by the Fed anticipated as early as March. This is great news for the broader markets as well as for individual areas, several of which can benefit the most from this backdrop.

Daily Chart of S&P 500 Index ($SPX)

As for areas that will benefit most from a rising stock market amid a continued drop in interest rates, the Financial sector has several areas already seeing growth. Among them is brokerage firm Charles Schwab (SCWB), which recently reported that total client assets were up 12% year-over-year for the month of November. The increase comes as investor confidence in the markets expands and individuals put money to work.

Daily Chart of Charles Schwab Corp. (SCHW)

The stock gapped up into a base breakout on heavy volume following the news. Since then, SCHW has pulled back to its upward trending 10-day moving average, where its found support. With both the RSI and MACD in positive territory, the stock is poised to trade higher.

Asset management firms are also benefiting due to increased AUM amid a rise in portfolio values as the markets hit year-to-date highs. Blackrock (BLK), among the largest asset managers, is poised to break out of a flag formation following a 5-month base breakout which took place earlier this month. The company is moving closer to the approval of their new Bitcoin ETF, which has attracted positive attention to this 2.5%-yielder. A move above $820 on volume would be quite bullish for BLK.

Daily Chart of Blackrock (BLK)

Other financial stocks are on the move as well, such as bank stocks that continue to trend higher. Subscribers to my MEM Edge Report were alerted to the new uptrend in mid-November, when we added two Regional Banks to our suggested holdings list. Both stocks have pulled back to key support this week after posting double-digit returns, as they prepare for another leg higher. Use this link here to access these stocks, as well as other stocks poised to trade higher. Your 4-week trial to my twice weekly report returns also provides broader market insights not found elsewhere else, as well as detailed sector and stock selection ideas.

May you have a fantastic holiday weekend!

Warmly,

Mary Ellen McGonagle

MEM Investment Research

0
FacebookTwitterGoogle +Pinterest
previous post
The Top Five Charts of 2023
next post
MEM TV: Markets in Bullish Mode as We Head Toward Year-End

Related Posts

Improve Your Entry Points

August 10, 2023

DP TRADING ROOM: Find Shorts Using the Diamond...

April 23, 2024

Hidden Gems: Bullish Patterns Emerging in These Country...

April 24, 2025

IT Breadth Momentum (ITBM) and IT Volume Momentum...

February 8, 2025

EQUITIES HIT ALL TIME HIGHS AS TECHNOLOGY JOINS...

May 21, 2024

Weak Charts Keep Getting Weaker

April 23, 2024

GNG TV: Growth & Energy LEAD as S&P...

September 14, 2023

Week Ahead: Mild Technical Pullbacks Likely; NIFTY Remains...

April 21, 2024

Analyzing Alphabet’s Surge — Here’s How to Get...

April 27, 2024

Market Pullback? Follow These Charts!

February 15, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Fed Watch: Key Bullish Patterns in the S&P 500, Utilities, and Crypto

    • Three Charts to Watch for an “All Clear” Signal

    • Use This Multi-Timeframe MACD Signal for Precision Trades

    • The Unpredictable Stock Market: How to Make Sense of It

    • Crypto Market Recap: New Hampshire Launches First State Crypto Reserve, Trump Stirs Controversy

    • SAGA Metals Extends Claims at the Radar Ti-V-Fe Project –Securing the Entire Titanomagnetite-Bearing Intrusion

    Categories

    • Business (1,181)
    • Investing (2,402)
    • Politics (3,699)
    • Stocks (1,551)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved