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U.S. stocks traded lower midway through trading, with the Dow Jones index falling around 50 points on Thursday.
Earlier this month, Fed governor Adriana Kugler announced her resignation and President Trump nominated Council of Economic Advisers head Stephen Miran to take her seat.
The US indices that I follow all look somewhat quiet in premarket trading, as we are likely waiting for the next inflation numbers, and of course that speech by Jerome Powell this Friday.
Investing in the stock market is one of the most effective ways to build wealth, and exchange-traded funds (ETFs) can often be a safer and simpler alternative to investing in individual stocks.
Investing with a long-term strategy has proven to be a great way to build serious wealth over time without taking on a bunch of risk or headaches along the way. Some key elements of this strategy involve simplifying things when you can and diversifying your investments across different markets and industries.
Market breadth is weakening as top S&P 500 stocks like Palantir more recently decline (five straight days), narrowing the gap with the rest of the index. Watch stocks like Coinbase, Align, Super Micro Computer, Moderna, Dow, Lululemon, and Intel due to valuation, weak growth, or structural challenges. LyondellBasell stands out for strong dividend income potential and Adobe faces competitive threats from Figma.
U.S. stock valuations are stretched, making it prudent to take profits and diversify into developed international markets for better long-term returns. The iShares Core MSCI EAFE IMI Index ETF (XEF:CA) offers attractive value, trading at a much lower P/E and price-to-book ratio than the S&P 500. XEF provides broad exposure to industrials and financials, with a higher dividend yield and less concentration risk than U.S. indices.
The broad U.S. stock market is trading at a historically high level to companies' revenue. But there are plenty of companies whose stocks haven't followed suit.
Lowe's cures Home Depot's miss yesterday with an earnings beat of its own.
The three major US indices that I cover here at FX Empire all look as if they are trying to find their footing in the premarket hours. That being said, we have the Jackson Hole Symposium and the related speeches at the end of the week.