Market Commentary

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trade wars and tariffs

Market Commentary

Weekly Market Commentary – November 11, 2019

Last week was quieter following the multiple major data releases and Fed meeting the previous week. England and Australia left interest rates unchanged. U.S. and Chinese trade data showed both economies continue to struggle with the effects of a trade war.

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WMC - november 2019

Market Commentary

Weekly Market Commentary – November 4, 2019

Last week was the business economic data week of the year. The Federal Reserve cut interest rates for the third consecutive meeting. Third-quarter GDP grew 1.9%, beating expectations of 1.6% while still falling short of 2% because of weakness in trade and business investment.

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oct 28, 2019 WMC

Market Commentary

Weekly Market Commentary – October 28, 2019

Economic data reinforced the view that trade disputes are pressuring economic growth and creating an uncertain environment for businesses to invest. Whether it was the weekly Brexit roller coaster, the U.S. durable goods report,

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brexit vote

Market Commentary

Weekly Market Commentary – October 21, 2019

Great Britain’s prime minister and the European Union reached an agreement for Britain to exit the European Union on October 31, 2019, pending the approval of the British Parliament. Efforts to secure Parliament’s approval over the weekend were postponed to this week as Brexit opponents seek to shift enough votes to thwart the deal.

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WMC globe

Market Commentary

Weekly Market Commentary – October 14, 2019

Chinese and U.S. negotiators reached a tentative agreement to step back from policies designed to inflict damage on each other’s economies as they seek to negotiate a more permanent trade deal. The Chinese agreed to accelerate purchases of U.S. agricultural products,

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WMC October 7, 2019

Market Commentary

Weekly Market Commentary – October 7, 2019

The monthly U.S. employment report created some very positive headlines but also indicated slowing business investment is spilling over to the jobs market. The unemployment rate fell to 3.5%, the lowest level in 50 years. As shown on the accompanying chart, payrolls increased by 136,000 jobs last month, roughly in line with expectations.

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WMC september 30

Market Commentary

Weekly Market Commentary – September 30, 2019

Impeachment proceedings led news coverage most of the week, but other economic data may be more impactful on portfolios. As the accompanying chart shows, consumer spending rose just 0.1% in August. The below-expected results indicate weakness from trade, and business spending may be slowing consumer confidence, too.

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wmc september 23

Market Commentary

Weekly Market Commentary – September 23, 2019

The Federal Reserve cut interest rates 0.25% last week. While the move was widely expected, various forms of dissent reflected the underlying tensions faced by the Fed. As the accompanying chart shows, interest rates dropped last week but remain above recent lows.

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WMC 9/16

Market Commentary

Weekly Market Commentary – September 16, 2019

Global stocks rallied sharply for the third straight week. The S&P 500 rose 1.0%. The MSCI ACWI index of global stocks rose 1.3%. The Bloomberg BarCap Aggregate Bond Index dropped 1.7% as optimism about future economic growth pushed interest rates higher and bond prices lower.

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WMC

Market Commentary

Weekly Market Commentary – September 9, 2019

Global stocks rallied sharply for the second straight week. Stocks have historically performed worse in September than any other month, so the positive performance comes at a welcome time. For the week, the S&P 500 rose 1.8%.

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