Market Wrap Up: Thursday, July 13th, 2023

Market Wrap Up: Thursday, July 13th, 2023

Hey there, fellow young professionals and beginner investors! Time to wrap up what happened in the stock market today. Don’t worry, we’ll keep it short and sweet, just like your attention span on a screen.

So, here’s the deal: U.S. stocks have been on a winning streak for four days in a row. The S&P 500, a fancy index that tells us how the overall stock market is doing, has been hanging around 4,500. This is mostly because tech stocks have been doing well. Oh, and some data came out showing that inflation (you know, when prices go up) is slowing down. That’s good news because it means the Federal Reserve might stop raising interest rates soon.

Now, let’s get to the fun stuff: how the stocks were trading yesterday. The Dow Jones Industrial Average (a group of 30 big companies) went up by 86 points, or 0.25%. The S&P 500 increased by 33 points, or 0.74%. And the Nasdaq Composite (where all the cool tech companies hang out) gained 158 points, or 1.15%. Woohoo!

But why is all this happening? Well, it’s because the latest economic data shows that the Fed’s plan to control inflation seems to be working. They don’t want prices to go crazy high and hurt the economy. Luckily, inflation didn’t go up as much as people thought it would. The June producer-price index (a fancy term for the cost of making stuff) only rose by 0.1%, when experts expected it to go up by 0.2%. That’s not too bad. The core producer-price index, which doesn’t count the prices of food and energy because they can be a bit unpredictable, also went up by 0.1%. So, all in all, things are looking pretty decent.

And there’s more good news! The U.S. job market is still doing pretty well. The number of people applying for jobless benefits went down by 12,000 to 237,000. That means fewer people are losing their jobs, which is a good sign for the economy.

Now, let’s talk about what this means for you as a young professional or beginner investor. It’s important to understand that when the stock market is doing well, it can be a good time to invest. But remember, investing is a bit like riding a roller coaster. There will always be ups and downs, just like in life.

If you’re thinking of investing, it’s a good idea to keep an eye on what’s happening in the market. Look out for signs of inflation, job market trends, and how the Federal Reserve is handling things. These factors can give you a better sense of where the market might be headed.

And hey, don’t forget to have some fun along the way! Investing is like a long-term game. You’re not trying to win it all in one day. Take your time, do your research, and make informed decisions. And if things get a little bumpy, don’t panic. Remember, even the most successful investors have their fair share of ups and downs.

So, that’s it for our market wrap up today. The stock market has been on a winning streak, thanks to some good news about inflation and the job market. Just keep in mind that investing is a journey, and it’s important to stay informed and make wise choices. Now go out there, young professionals and beginner investors, and conquer the world (or at least the stock market)!

By Alfonso Sanchez

Disclaimer: This article is for educational purposes only and does not constitute financial advice. Always do your own research and consult with a professional before making any investment decisions.