The week 22.08.-26.08.2022

The major U.S. market indexes began and ended the week with strong daily falls, sending the S&P 500, NASDAQ, and Dow down roughly 4% total. It was the S&P 500’s second weekly loss in a row, breaking the upward momentum that had raised the index more than 17% from mid-June to mid-August. On Friday, U.S. market indexes tumbled more than 3% after Federal Reserve Chair Jerome Powell stated that the Fed is dedicated to continuing its programme of aggressively raising interest rates, even if it means igniting a future recession. Powell said in Jackson Hole, Wyoming, that recent inflation data “falls far short” of what the Fed “will need to see before we are convinced that inflation is heading down.“A monthly inflation indicator used by the Federal Reserve of the United States as its preferred gauge of price movements indicated that inflation had recently slowed. According to the personal consumption expenditures price index, consumer prices grew 6.3% year on year in July, down from 6.8% in June. Prices jumped 4.6% when volatile food and gas were excluded.
One-Signal delivered outstanding performance in this turbulent week. One-Signal Xpert posted gains of 6.18%, while One-Signal Xpress ended the week up 2.43%. The S&P 500 ended the week in red territory with -3.28%.