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As we wrap up 2023, the Beige Book signals a dovish stance, indicating a slowdown in the U.S. economy. The market widely anticipates the end of the Federal Reserve's tightening cycle despite GDP data for the third quarter surpassing expectations. However, market sentiment suggests a continued economic deceleration. The downward revision of PCE data ...

Manufacturing activity in New York state held steady in July after an uptick last month, data from the Federal Reserve Bank of New York showed Monday. The New York Fed said its general business conditions index fell to 1.1 in July after surging to 6.6 in June, although a positive reading still indicates growth. Economists had expected the index to drop to zero. The index for future business conditions fell to 14.3 in July from...

Sector Rotation
Tech has been killing it in the market this year, thanks to the artificial intelligence boom. The tech sector has lifted the entire market while other sectors have greatly underperformed.
Occasionally, an overheated sector will begin to cool off as investors rotate their capital into underperforming sectors in expectation of a broadening rally or a change in the economy.
Even the NASDAQ announced a special rebalancing later this month, ...