Week of 07/24-07/28 Federal Reserve Raises Interest Rates by Quarter Point

The stock market finished the week in a green note due to corporate earnings and June's Personal Consumption Expenditures (PCE) price index report coming in with better-than-expected results. The PCE measures consumer spending and it is one of many metrics utilized to gauge inflation. One of the biggest moves this week came from ROKU reporting less losses than expected for Q2 and promising expectations for Q3. On other news, Twitter (which was recently bought by Elon Musk) changed its name and logo to "X". There is nothing to worry about anymore as far as stock price volatility for twitter, since the purchase from Elon this past spring caused the TWTR stock to be delisted and the company became privately owned.

Major news for the stock market came in Wednesday when the Federal Reserved announced its 11th interest rate hike of a quarter point. The Fed has now brought interest rates to its highest levels in 22 years to fight the recent inflation the economy is experiencing. Further comments were made on Wednesday by Fed officials on planned estimates to raise interest rates one more time before the end of the year. Even after monthly economic reports have been signaling a reduction in inflation, the Federal Reserve stated that inflation remains elevated and appropriate actions will be taken if the economy continues to be faced with sustained inflation.