Broker Check
Is it Up? Or is it Down?

Is it Up? Or is it Down?

September 11, 2023

Welcome to The Gate Market Updated, brought to you by The Cornerstone Financial Group. This week is another big week for the markets, as more economic data comes in from around the globe.

The Fed’s fight on inflation still takes center stage this week as August’s CPI report comes out on Wednesday. This week’s data could be important as the Fed’s next meeting is September 20, and the data from this week’s report will influence whether they decide to raise rates again this month. Sentiment seems to be neutral on what the Fed’s decision will be regarding interest rates although recent economic news has made it seem that inflation is easing, and the Fed’s policies are working.

Early this week we saw the USD (US Dollar) weaken compared to the Japanese Yen and the Chinese Yuan, and a small jump in commodities, like gold and silver. News from over the weekend that Japan might end their negative interest rates seemed like good news for investors. Positive news from China’s fight on deflation contributed to more positive sentiment. While global news looks good this week, what’s ahead for the U.S.?

Even with this week’s early jump in stocks, charts are still showing uncertainty in the direction moving forward. Stocks are climbing higher this week before much of this data has come out. The global economic news has helped, but the S&P 500 has entered an interesting trading zone as we’ve just moved below the 50-day moving average.

The weakening of the US Dollar, the bounce in commodities, and uncertainty of more interest rate hikes could indicate some strenuous times ahead. Moving forward, it will be important to follow the events in Asian developed markets and what transpires in the next few weeks as that could impact the movement of the market. This week’s inflation data will be key to determining the Fed’s next steps to fight inflation, and possibly the direction of the economy as we head into the end of the year.

As always, we value your feedback. Please feel free to share your thoughts and insights in the comments or reach out to us at For the latest updates, connect with us on Facebook or LinkedIn at The Cornerstone Financial Group Inc.

OneAscent Financial Services, LLC (“OAFS”), d/b/a The Cornerstone Financial Group, is a registered investment adviser with the United States Securities and Exchange Commission. OAFS does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by OAFS or any unaffiliated third party. OAFS is neither an attorney nor accountant, and no portion of the presented content should be interpreted as legal, accounting, or tax advice. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.