Have the Markets Found a Bottom?

While the fourth quarter has only just begun, the end of the year can’t come fast enough for Wall Street. The year 2022 has been disastrous for investors. The Dow Jones Industrial Average is down 22 percent, the S&P500 has fallen 25 percent, and the NASDAQ Composite has dropped a whopping 33 percent for the year through Sept. 30.
Is there a silver lining? Have the equity markets sounded a bottom? Are markets attractive at these levels? For those tempted by these questions, here are a few things to consider.
The past two weeks held a lot of bad news that prompted the most recent sell-off. First, a higher-than-expected CPI print of 8.3 percent for August confirmed to the markets what everyone shopping for their own groceries and filling up their gas tanks already knew, which is that inflation isn’t getting any better. In fact, it’s getting worse in what matters most to Americans: housing, energy, and food. This is going to continue to pressure consumer sentiment…. Source

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