Markets at all times high despite all the trade and impeachment noise

Investors remain at the mercy of trade headlines which are light on substance. The major indices eked out slight gains last week despite contradictory statements on the progress of finalizing the Phase One agreement. The Dow Jones Industrial Average rose 1.17%, followed by the S&P 500® Index (+0.88%), the Nasdaq (+0.77%) and the Russell 2000® Index (-0.15%).

Negotiations stalled this week as China stated that it expected a tariff roll back as a condition for an agreement. The U.S. countering with its expectation that China would formally commit to purchase U.S. goods. Agreement on other issues, such as technology sharing, remain uncertain. However, Secretary of Commerce Ross reiterated his expectation that a deal would be consummated. And on Friday, White House economic adviser Larry Kudlow, while providing few details, suggested that the parties are close to an agreement. The good news is that both the U.S. and Chinese officials have stated that ongoing negotiations seek to resolve the outstanding issues.

Chairman Powell met with both Houses of Congress; he reiterated that the economy continues to expand and believes that, while further rate cuts may not be necessary, the Fed is prepared to reduce rates if the economy stumbles. The return to a more typical yield curve, with the recent increase in longer-term rates, reflects the markets’ diminished concerns about an economic recession.

The markets, in the absence of any headline events, will continue to respond to the latest news stories which may, or may not, clarify the status of trade talks. Optimism for a trade agreement prevails. While the U.S. and China seem anxious to reinforce this sentiment, the real status of the Phase One agreement is unknown. In the meantime, market volatility remains low while the waiting continues.

Source: Pacific Global Investment Management Company

Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.

Sincerely,

Fortem Financial

www.fortemfin.com

 


 

Latest News

China Lifts 4-Year Ban on U.S. Chicken

China has agreed to lift a more than four-year-old ban on U.S. poultry imports, both governments said, in what a U.S. industry group said could lead to sales of $2 billion of poultry.

Read Story

 

Fed Chairman Powell, Trump Meet, Discuss Economy

Federal Reserve Chairman Jerome Powell met with President Trump at the White House on Monday to discuss the economy, the central bank said in a statement.

Read Story

 

Dow Jones News: Intel Talks Graphics; iPhone Sales Grow i...

Intel gave investors some details on its upcoming graphics push, and Apple's iPhone is reportedly selling better in China.

Read Story

 


Brian Amidei, along with Partners Joseph Romano and Brett D'Orlando have also been named *2014, 2015, 2016, 2017, 2018 Five Star Wealth Managers!

Disclosures:
Awards and recognitions by unaffiliated rating services, companies, and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Fortem is engaged, or continues to be engaged, to provide investment advisory services; nor should they be construed as a current or past endorsement of Fortem or its representatives by any of its clients. Rankings published by magazines and others are generally based on information prepared and/or submitted by the recognized advisor. Awards may not be indicative of one client’s experience or of the Firm’s future performance. Neither Fortem nor the recognized advisor has paid a fee for inclusion on a list, nor purchased any additional material from the award provider. The criteria for each award is listed below:

Five Star Professional Disclosure:
The Five Star Wealth Manager award is based on 10 eligibility and evaluation criteria: 1) Credentialed as an investment advisory representative (IAR) or a registered investment advisor; 2) Actively employed as a credentialed professional in the financial services industry for a minimum of five years; 3) Favorable regulatory and complaint history review; 4) Fulfilled their firm review based on internal firm standards; 5) Accepting new clients; 6) One-year client retention rate; 7) Five-year client retention rate; 8) Non-institutionalized discretionary and/or non-discretionary client assets administered; 9) Number of client households served; and 10) Educational and professional designations. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional or the magazine. The award methodology does not evaluate the quality of services provided. Additional information about this award is available at: fivestarprofessional.com/2016FiveStarWealthManagerMethodology.pdf
Fortem Financial 2016. All rights reserved.

Data Sources: News items are based on reports from multiple commonly available international news sources (i.e. wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. Market Data: Based on reported data in WSJ Market Data Center (indexes); U.S. Treasury (Treasury Yields); U.S. Energy Information Administration/Bloomberg.com Market Data (oil spot price, WTI Cushing, OK); www.goldprice.org (spot gold/silver); Oanda/FX Street (currency exchange rates). All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness.

Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. The opinions expressed are solely those of the author, and do not represent those of Fortem Financial, LLC or any of its affiliates. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful. Forward looking statements are based on current expectations and assumptions, the economy, and future conditions. As such, forward-looking statements are subject to inherent uncertainty, risks, and changes in circumstance that are difficult to predict. Actual results may differ materially from the anticipated outcomes. Carefully consider investment objectives, risk factors and charges and expenses before investing. Fortem Financial is a registered investment adviser with the SEC. Advisory services are offered through Fortem Financial.

The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. The Russell 2000 is a market-cap weighed index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. Market indices listed are unmanaged and are not available for direct investment.

Fortem Financial

Recent Posts