August 14th Weekly Economic Update

Following an exceptionally strong finish in the first half of the year, financial markets have entered somewhat of a corrective phase. The bears now seem to have the microphone, and when markets undergo a pullback, their list of worries resonates. Apple (AAPL) relinquished its $3 trillion status as concerns mount over its upcoming iPhone 15 launch. AAPL now sits on the cusp of a 10% correction. Not surprisingly, August 23 will be an important date for global investors as NVIDIA (NVDA) is set to report earnings. Overall, for the market to regain momentum, positive headlines are needed. The recent inflation data report helped boost investor confidence and overall market momentum.