Investors were surprised late last week by the announcement that the U.S. would impose a 5% tariff on all goods imported from Mexico and gradually increase them until the flow of illegal immigrants stopped. The economic and political uncertainty of this policy added to the uncertainty currently in the market from the U.S.—China trade …
Despite increased tensions with Iran and the start of the summer driving season, crude oil had its steepest decline since the late December lows, down 6.6% for the week. The equity markets also extended their recent decline with most averages adding to multi-week declines. As a follow-up to last week’s comments on the American …
NovaPoint Capital would like to show our respect for those who have made the ultimate sacrifice in defense of our freedom. In their honor, we are donating 100% of our revenue earned on May 24th to three Veterans Service Organizations: the Army Ranger Lead the Way Fund, the Children of Fallen Patriots Foundation, and …
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A breakdown in US – China trade talks and some saber rattling with Iran dominated headlines this past week. Investors appear to be growing weary of the headline noise, especially with China. The thought that a conclusion to China trade is no longer a “done deal” is inserting some pessimism into investors’ psyche. This …
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 was honored with the Bull Bear Master designation for its Large Cap Dividend Growth Strategy for the three-year period ending March 31, 2019. “We are very pleased to have …
U.S.-China Trade dominated the headlines last week. As trade talks stalled, the U.S. increased the previously announced tariffs on Chinese goods from 10% to 25%. The U.S. is also investigating options for tariffs on an additional $300 billion of Chinese-made goods not currently under tariffs. The Chinese Vice Premier spent last week in the …
The Federal Reserve’s Federal Open Market Committee (“FOMC”) held short-term interest rates steady this week. As mentioned in last week’s Commentary, the Fed’s mandate is to promote maximum employment, stable prices, and moderate long-term interest rates. The Fed’s current inflation target is 2% and inflation is currently below that level. This past Friday’s Employment …
NovaPoint Capital announced today that Frederick Wright has joined the firm as a Managing Director and Portfolio Manager. With over 25 years of experience in the investment industry, Frederick brings to NovaPoint Capital a wide breadth of industry knowledge and experience. Most recently, he served as a Partner and Wealth Advisor at Brightworth where …
The advance report on First Quarter U.S. Gross Domestic Product (“GDP”) was reported at +3.2%. This was an upside surprise to the 2% widely anticipated by most economists. Part of the surprise was in net trade (exports versus imports) which was refreshing to see given the concern over the U.S.—China trade standoff. Personal consumption …
Earnings reports have been a positive surprise so far. For the S&P 500, 77 out of 500 companies have reported with 78% beating expectations, 5% matching and 17% below expectations. The 48 company earnings reports from the past week have raised the combined (reported and estimated) earnings growth for the quarter from -2.3% to …
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