US equities (^GSPC, ^DJI, ^IXIC) are mixed Friday morning after recent economic data in the form of June’s Purchasing Managers Index (PMI) and May’s existing home sales were released. In addition, shares of tech giant Nvidia (NVDA) are falling for their second day in a row, weighing heavy on the S&P 500.
AlphaSimplex Chief Research Strategist and Portfolio Manager Katy Kaminski joins Wealth! to give insight into current trends in the stock market and helpful tips for investors looking for ways to manage their portfolios.
In terms of how the US dollar (DX=F) has performed, Kaminski states: "The dollar has been very mixed this month. But there’s a couple of things that are holding the dollar up. So one is the fact that, you’re kind of seeing the Fed [Federal Reserve] being a little more cautious. You’re also seeing that if you think about trading the dollar versus another currency, what’s your alternative? If you look at the alternatives, a lot of other central banks have already started cutting [interest] rates."
Kaminski goes on to let investors know: "This puts the dollar in a more favorable position. But despite that, you’re also seeing a little bit weaker data on the dollar, which would make it weaker. So net-over-net the dollar is still looking relatively strong this month, despite some of the weaker economic data."
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