Week of 03-20-03-24 Rates increased by 25-basis points, market volatility continues

On Wednesday, Jerome Powell announced the ninth interest rate hike since the battle against inflation began last year. This comes after the bank turmoil from the last two weeks in which several banks collapsed, leaving people with uncertainty and fear of where our economy is headed. The U.S. government assured they are working in insuring full amounts in banks to bring peace of mind to concerned citizens. Powell also advised we might be getting close to pausing the interest rate hikes, but it will all depend on where things go from here. The market had a volatile reaction as the SPY surged to 400-points but quickly faded to 392-points by the market close. The biggest name in the SP500 this week is Nvidia, as AI takes over the future of the technology sector. The chip manufacturer is leading the way for artificial technology and it is being reflected in their stock price. Tesla got upgraded by Moody's to a buy rating as the electric car vehicles keep disrupting the industry. The "meme stock" Gamestop (GME) reported a profit for its fourth quarter and soared 35% after hours. The short term future of the market is more uncertain than ever, but the market downside may just bring the next investing opportunity as we might be experiencing the last interest hike of the year.