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Market Week: August 26, 2024

The Markets (as of market close August 23, 2024)

Investors finally heard what they had been waiting for after Federal Reserve Chair Jerome Powell gave clear indications that the central bank will lower interest rates in September. Powell noted that the labor market has cooled and inflation is slowing. In an up and down week for stocks, each of the benchmark indexes listed here ended up closing higher, led by the RUSSELL 2000. Crude oil prices rallied at the end of the week, but not enough to avoid closing in the red. Typically, falling interest rates stimulate economic growth, which includes rising demand for oil. However, worldwide energy demand, particularly in China, has waned, keeping oil prices somewhat muted. Ten of the 11 market sectors closed higher, led by materials, consumer discretionary, and financials. Energy ticked lower.

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Premia Global Advisors LLC (“Premia”) is a U.S. Securities and Exchange Commission (“SEC”) registered investment advisor located in Coral Gables, Florida. Registration as an investment advisor does not imply any level of skill or training. A copy of Premia’s Form ADV Part 2A Brochure which includes a description of Premia’s services, fees and business practices is filed with the SEC and available by contacting us, or at the SEC’s website(www.adviserinfo.sec.gov).  Premia and Broadridge are unaffiliated companies. 

These materials are not intended to be an advertisement or research and may not be distributed in states where Premia is not registered, or countries or jurisdictions where not permitted by law. Any discussion of investment strategies, products, or services is for information purposes only and should not be deemed to constitute the provision of investment advice, or a recommendation, or offer to purchase, or sell securities or pursue any investment strategy. These materials do not purport to contain all the relevant information that investors may wish to consider in making investment decisions and are not intended to be a substitute for exercising independent judgment. We recommend that investors independently evaluate the appropriateness of a particular investment or strategy and consult with an attorney, or tax professional regarding their specific legal or tax situation. Premia does not offer tax or legal advice. No representations are made that investors will be able to avoid loss, or achieve a certain level of performance. Investment results will fluctuate and may be highly volatile, particularly over the short term. Diversification does not protect against loss. Our views are subject to change at any time without an obligation to provide an update. 

Although the information distributed is based on sources believed to be reliable. We do not warrant its completeness accuracy.

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