BOUNCING MARKETS END THE WEEK POSITIVE: This week, gains in shares of energy companies and some soaring initial public offerings helped increase stock prices overall. Rising tensions in the Middle East and tepid economic data kept things in check, and the week ended barely positive. After a difficult May, in which prices dropped approximately 6%,…
DetailsONLY 75,000 NEW JOBS: For the month of May, only 75,000 new jobs were added to the economy, a record 104th straight month of gains. This was well below general expectations. The unemployment rate remained the same at 3.6%. So far, the economy has added 820,000 new jobs through May of 2019. At this time…
DetailsTRADE TENSIONS CONTINUE TO DO DAMAGE TO THE MARKETS: Late Thursday, President Trump threatened to impose escalating tariffs on Mexico beginning June 10, and markets responded by moving down 1% on Friday. This has exacerbated the trade tensions that already exist with China and which have been causing falling stock prices all month. For the…
DetailsTENSION CAUSES STOCK SETBACK, REPRISE: Trade tension between the world’s two largest economies, China and the U.S. continued to weigh on stock markets. The S&P 500 had another negative week, and the Dow Jones Industrial Average suffered its fifth consecutive week of losses, the longest such streak since 2011. Growing rhetoric by politicians about the…
DetailsINFLATION STILL TAME: The U.S. Federal Reserve Bank has set its inflation target at 2%. It works hard to keep the U.S. far away from deflation, and it does not want runaway inflation. To the Fed, Goldilocks territory is 2%. The Consumer Price Index (CPI) gained 0.3% in April. If you take out the more…
DetailsU.S. LABOR MARKET KEEPS HUMMING: In April, the U.S. economy added 263,000 new jobs. That is the 103rd consecutive month of positive job creation in the U.S. The unemployment rate dropped to 3.6%, the lowest it has been since December 1969. The drop in the unemployment rate was caused by the large increase in jobs…
DetailsSTRONG G.D.P. GROWTH IN FIRST QUARTER: U.S. economic growth, as measured by Gross Domestic Product, grew at an annual rate of 3.2% in the first quarter according to the U.S. Commerce Department. No one was forecasting growth that high. This is the best first quarter showing in four years. The high number was driven largely…
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April 24, 2019 Dear Clients and Friends: It is truly a pleasure to serve you. In this letter, we want to update you with what has happened recently in the broader markets and provide you with some insight about where the economy is headed as well as information on changes we have made…
DetailsRETAIL SALES PICK UP: Over the past few months, U.S. retail sales numbers have been lackluster. In March, sales rose at their fastest pace in a couple of years rising 1.6% from the prior month and 3.6% from March of last year. Spending on autos, gasoline, furniture and clothing rose. UNEMPLOYMENT CLAIMS GO DOWN…
Details118 MONTHS AND COUNTING: Now that the economic recovery has continued into April, it is now into its 118th month, making this the second longest recovery in U.S. history, according to the National Bureau of Economic Research. The longest was 120 months from March 1991 to March 2001. In three months, this will be the…
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