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Mark Herding, CFP®, CMFC, LUTCF, RICP
Camelback Wealth Consultants, LLC
Phoenix, AZ 85016
Camelback Wealth Consultants has been awarded "Best Financial Planning & Asset Management Firm – South West USA" in the 2018 Wealth & Money Management Awards!
Financial and Economic Brief - November 5, 2019
• Consumer Confidence “Dips” - U.S. consumer confidence fell slightly in October to 125.9 from a September reading of 126.3 as worries over business conditions and employment prospects rose.
• Gannett and New Media Investment Group - Gannett reported its third-quarter earnings noting a continued decline in overall revenue but pointed to an increase in its marketing services & digital subscriptions.
• U.S.-China Trade Optimism - Technology stocks pushed the three main indexes to record highs, as hopes of a U.S.-China trade deal and an improving domestic economy raised risk appetite.
Financial and Economic Brief - October 8, 2019
• Unemployment Rate Falls - Unemployment hit a 50-yr. low in September even though nonfarm payrolls rose by just 136,000 as the economy nears full employment.
• Impeachment and the Stock Market - The launch of an impeachment inquiry into President Trump tosses another wild card into a volatile stock market.
• Trade Talks Underway - U.S. & Chinese deputy trade negotiators launched a new round of talks on Monday aimed at resolving the 15-mo. trade war, with neither side showing any signs of giving ground.
October 2019 Market Update
In this month’s recap: The Fed cuts interest rates, the price of oil spikes, and trade negotiations between the U.S. and China are rescheduled.
THE MONTH IN BRIEF
September brought an economic event that was widely expected: a quarter-point cut in short-term interest rates by the Federal Reserve. It also brought an attack on two of the world’s largest oil fields that threatened to dent global crude output. A resumption of U.S.-China trade talks was scheduled for October, and White House officials decided to delay some planned tariff increases. Clear signals of an economic slowdown emerged from both the eurozone and China; some of the key U.S. economic indicators looked much better by comparison. While all these events transpired, the S&P 500 gained 1.72% for the month.1
September 2019 Economic Update
Presented by Mark Herding, CFP®, September 2019
In this month’s recap: stocks descend as traders respond to the devaluation of the Chinese yuan as well as new developments in the ongoing U.S.-China trade talks; the price of gold rises, and bond yields fall.
THE MONTH IN BRIEF
The stock market had a tumultuous August, reacting to the sudden devaluation of the Chinese yuan and the escalation of the trade dispute between the U.S. and China. Ultimately, investors seemed more interested in risk aversion: the S&P 500 lost 1.81% for the month. Demand for bonds helped to send Treasury yields lower; prices of precious metals climbed. Away from the markets, monthly personal spending and retail sales gains were strong.1
Financial and Economic Brief - September 4, 2019
• Recent Jobless Claims Fall - Initial claims for state unemployment benefits dropped to 209,000 for the week ended August 17, 2019, falling sharply from the week before.
• Brexit Crisis Still Uncertain - British lawmakers will try to stop Boris Johnson from pursuing what they cast as a “calamitous no-deal Brexit”.
• New Wave of Tariffs in Trade War - The new tariffs are a sharp escalation in the trade war, and could cost U.S. households $800 a year.
Financial and Economic Brief - August 6, 2019
• Economy is Steady - The economy added 164,000 nonfarm payrolls in July, as expected. Wages rose 0.3% in July, or 3.2% year over year.
• Yuan Falls - The yuan fell 1.4% which breached the key 7-per-dollar level for the first time since 2008.
• HSBC CEO Out - HSBC chief John Flint is stepping down after less than two years on the job.
Financial and Economic Brief - July 3, 2019
• Stocks Steady amid Threatened Tariffs - Stocks were steady today after the U.S. threatened a new wave of tariffs on European goods, dulling recent optimism surrounding the U.S.-China trade truce.
• GE in Decline - GE's (GE) stock decline, down by nearly two-thirds since the end of 2016, has knocked the company down to the 59th most valuable in the S&P 500.
• OPEC, Allies Extend Supply Cut - OPEC and its allies agreed to extend oil output cuts until 3/20, seeking to prop up the price of crude as the global economy weakens and U.S. production soars.
Financial and Economic Brief - June 4, 2019
• U.S. Stock Market Futures Fall - U.S. stock index futures fell Monday, after the China and U.S. trade relationship “intensified” over the weekend.
• U.S. Inflation Ticks Up - U.S. consumer prices increased in April, which could support the Fed’s contention that recent low inflation readings were temporary and allow the Fed to keep interest rates unchanged for a while.
• Factory Activity Slows - An escalating trade war between the U.S. and China raised fears of a global economic downturn and put pressure on policymakers to roll out more stimulus.