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China negotiations moving forward... Brexit is a mess, but does anyone care?

by Fortem Financial March 4, 2019

Equity markets were mixed last week as no significant events motivated investors to buy or sell.  The Nasdaq led the indices this week with a 0.90% gain, followed by S&P 500® (0.40%), Dow Jones Industrial Average (-0.02%) and Russell 2000® Index (-0.03 %).  Early in the week, President Trump announced a postponement of additional tariffs on $200 billion of Chinese products with no extension date provided.  Reports later in the week indicated that President Trump and President XI may m… View More

Markets believe we are Inching Towards A China Deal

by Fortem Financial February 25, 2019

President Trump’s announcement last night delaying an escalation in China tariffs from going into effect on March 1 shows that we are moving towards a deal in the coming month.Trump is becoming more pro-growth and is looking for a deal ahead of his re-election. Avoiding the escalation of tariffs prevents an additional $50bn of tariffs from going into effect in CY 2019. We are having a harder time seeing a path to removing existing tariffs, which will be largely dependent on the Chinese making … View More

Market Pausing, But Average Stock Outperforming

by Fortem Financial February 11, 2019

While the market has paused over recent days, the equally-weighted S&P has continued to outperform and reflects an improvement for the “average stock.”  The equity markets started last week on a positive note before retreating as trade concerns and Brexit dampened investor enthusiasm.  The major indices rose fractionally: the Nasdaq gained 0.55%, followed by the Russell 2000® Index (0.29%), the Dow Jones Industrial Average (0.17%) and the S&P 500® Index (0.05%.)  Trade concerns… View More

Best January for markets in more than 30 years

by Fortem Financial February 4, 2019

Equities posted the best January results in thirty years; the abrupt reversal of fortune, while perhaps bittersweet, signaled renewed confidence in the economy.  For the week the S&P 500® Index rose 1.57%, followed by the Nasdaq (1.38%), Dow Jones Industrial Average (1.32%) and Russell 2000® Index (1.29%).  On Wednesday, the Federal Reserve left interest rates unchanged and removed longstanding commentary that further rate increases may be necessary.  The Fed also stated that its prima… View More

The Fed leaves rates unchanged

by Fortem Financial January 30, 2019

Today the Federal Reserve Board decided to leave the Federal Funds Rate unchanged.  More importantly, they also said that "In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes."   After the December meeting (when the Fed raised rates by 0.25%), we shared that we thought Powell's (and the Federal Re… View More

The government is open, at least until February 15

by Fortem Financial January 29, 2019

The equity markets ended this holiday-shortened week essentially unchanged.  The Dow Jones Industrial Average (+0.12%) and the Nasdaq (+0.11%) led with modest gains followed by the Russell 2000® Index (+0.02%) while the S&P 500® Index fell 0.22%.  Shortly before the markets closed on Friday, President Trump announced a deal with lawmakers to approve a bill which would reopen the federal government until February 15th while negotiations continue.  State unemployment claims for last week … View More

The recovery continues but starts to meet some technical resistance

by Fortem Financial January 22, 2019

The equity markets recovery continued last week led by a 2.96% gain in the Dow Jones Industrial Average followed by the S&P 500® Index (2.87%), Nasdaq (2.66%) and Russell 2000® Index (2.43%).  Corporate earnings season began last week with major financial institutions including Citigroup, JPMorgan, Bank of America, and Goldman Sachs; each posted earnings that exceeded analysts’ expectations despite low trading revenues related to December’s severe volatility.  The companies believe t… View More

Patience by the Fed is a good thing

by Fortem Financial January 14, 2019

The equity market recovery continued this week as the oil price rebound, Federal Reserve comments regarding ‘patience’ in interest rate policies, and mid-level trade negotiations with China improved investor sentiment.  The lack of progress on the government shutdown, which on Saturday will become the longest in history, apparently did not influence market sentiment.  Fears of a recession subsided as the Russell 2000® Index led the markets with a 4.83% gain followed by Nasdaq (+3.45%); S… View More

A little late for a Santa Claus Rally but we will take it

by Fortem Financial January 7, 2019

Friday’s rally provided a welcomed start to the New Year as all of the major indices posted solid gains. For the week, the Russell 2000® Index (3.20%) led all of the major indices, followed by the Nasdaq (2.34%), S&P 500® Index (1.86%) and the Dow Jones Industrial Average (1.61%). Consumer sentiment rose on positive employment data, and comments by Federal Reserve Chairman Powell. Friday’s release of the December employment report included 312,000 jobs in December, the largest month… View More

2019 Outlook and Predictions

by Fortem Financial January 2, 2019

Each year our Friend  Bob Doll, who is Chief Equity Strategist & Senior Portfolio Manager at Nuveen asset management, gives his view on the new year.  His insights are very thoughtful and give us some insight to the year ahead.  Below are Bob’s comments for 2019 and how he believes the year will unfold in the Economy, markets and some insight to geopolitical events that could affect your portfolios. 2019: Choppy and frustrating, but no recession First a look back at a disappointing 20… View More

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