LEAP Wealth Management

The market closed out the 3rd quarter in the red, however, on Friday, the S&P added 1.5%. The selling pressure came from political issues and not being able to pass a budget, which impacted Treasuries as well. The debt ceiling concerns, inflation and potential rate increases are certainly impacting the growth areas of the stock market.

Energy was the biggest leader in the sectors with prices climbing higher across the world. Inflation has not let up across the board, supply chain bottle-necks are not improving. Fed Chairman Powell expects it to continue longer than they originally thought.

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