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Last week, attention shifted away from the war in Ukraine and onto the conflict in the middle east. The most noticeable economic fallout was seen in WTI Crude Oil Futures.

The attack on Israel flared up long-standing tensions in the region, causing oil prices to jump. Some market analysts said prices could rise as high as $150 per barrel, but the initial shocks only sent prices back into the $90 range.

Last week, the FOMC met and reaffirmed the current target range for the Fed Funds Rate. However, one of the developments from this meeting was the guidance for interest rates in 2024. The FOMC released an update to their dot plot which saw median estimates for next year shift from 4.6 percent in June to 5.1 percent, effectively holding these interest rates at this elevated level well into next year.

The Major Markets fell once again last week as the market dealt with the news of a bank run. All five indices fell substantially with the Nasdaq seeing the greatest losses. The S&P 500 was not far behind with a loss just over 4.5 percent. For investors, there was a sense of trepidation midweek as … Continued