PHILADELPHIA – Nationally syndicated host and biblical investing authority Dan Celia discussed last weeks’ market numbers, the border crisis, and the upcoming Federal Reserve press conference.
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The Market Numbers
Celia stated, “U.S. Markets ended last week in significantly negative territory. The S&P and the NASDAQ were nearly 1% in negative territory for the day on Friday. We’ll see if this continues this week.
“The border crisis is totally out of control, and I don’t think anybody realizes the negative impact that it’s going to have on several cities, not to mention on the economy itself. This is coming out of our pockets. We, the taxpayers of America, will be taking care of these people, both in their healthcare and their food.
Celia continued, “Now that these people are here, the economic data this week is all going to be about housing more than anything else. We are waiting for the building permit housing stats for August, which will be out on Tuesday. We get existing home sales on Wednesday. Remember, these are all August numbers, and we’ll see how that looks.
The Upcoming Federal Reserve Press Conference
“Chair of the Federal Reserve Jerome Powell will be holding its press conference on Wednesday at 2:30. Of course there will be a lot of people sitting back and just waiting patiently to see what Powell is going to say. If they're going to give any indication as to what is happening. We also get manufacturing and service sector numbers coming out on Thursday. These are PMI numbers and new home sales coming out on Friday. It’s going to be a very, very busy week.”