The final significant week of second quarter earnings brought upside surprises from several big retail companies, but an escalation of tariffs between the U.S. and China overshadowed everything and ended the week on the downside for the major equity indices. On second quarter earnings, 482 companies (>96%) in the S&P 500 have reported quarter-to-date. …
NovaPoint Capital has been awarded a PSN Top Guns distinction by Informa Financial Intelligence’s PSN manager database, North America’s longest running database of investment managers. NovaPoint Capital was honored with the Bull Bear Master Top Guns rating for its Dividend Growth Strategy for the three-year period ending June 30, 2019. “We are very pleased …
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It was a volatile week in the stock and bond markets with each day providing a different catalyst to change market direction. The week started with continued concern over U.S. dollar / Chinese yuan exchange rate and trade/tariff issues. Optimism reigned on Tuesday as the White House announced a delay to some tariffs until …
The Chinese government’s move to weaken its currency relative to the U.S. Dollar rattled global markets early last week. The Yuan/Dollar exchange rate passed through the 7 Yuan-to-the-Dollar level. This makes the Chinese currency weaker (see “Currency Pegging” explanation below) and aids the pricing of Chinese exports in the global markets. The concerns over …
Following the Federal Open Market Committee (FOMC) announcement to lower its target range for the Fed Funds Rate by 0.25%, Fed Chairman Jerome Powell stated that the move was a “midcycle adjustment to policy” and that future rate cuts were not a guarantee. Despite the Fed Chairman’s comments, the markets are currently forecasting an …
On Wednesday, the Federal Open Market Committee (FOMC) will make a decision on its interest rate target. The current market probabilities are for a reduction of 0.25% which would bring the target range for the Fed Funds Rate to 2.00% to 2.25%. We can attribute most of the stock market tailwind over the past …
The stock market is often seen as a large system that moves in unison based on macroeconomic or geopolitical factors. During corporate earnings season, the bottom-up impact of each company reporting earnings can be seen individually, often with significant disparity, making it more of a market of stocks. The volume of second quarter earnings reports …
Second quarter earnings season takes center stage this week as 56 companies in the S&P 500 Index are scheduled to report earnings results. Most major banks will report earnings and we can see how they are navigating the current interest rate environment. Several industrial companies will also report earnings results and we can get …
An upside surprise to the June employment report last week tempered expectations that the Federal Reserve would be reducing short-term interest rate at the July FOMC meeting. The Labor Department reported that Non-Farm Payrolls increased by 224,000 in June versus an expectation of 160,000. This was a sharp reversal from May’s disappointing jobs report …
U.S. President Trump and President Xi of China met during the G20 meeting in Japan this week and agreed to restart trade talks between the two countries. Tariffs remain on $250 billion of Chinese imports but no new tariffs will be put in place for the time being. There is no time table for …
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