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 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 …
The S&P 500 Index had a muted week but then generated some excitement on Friday with earnings from banks such as JP Morgan and Wells Fargo, an energy sector merger announcement with Chevron and Anadarko Petroleum, and Disney’s announcement of its direct-to-consumer media service. The S&P 500 Index closed the week +0.5% higher. The …
The S&P 500 Index added to an impressive first quarter return by posting a 2.1% return in the first week of 2019’s second quarter. Economic and trade optimism buoyed equity markets. Later this week, the first quarter earnings season kicks off with major banks J.P. Morgan Chase, Wells Fargo, and PNC announcing their quarterly …
The S&P 500 closed out its best first quarter since 2009. The quarter came in like a lion and went out like a lamb. The giant January rebound (+8.0%) stepped down to more normal returns in February (+3.2%) and March (+1.9%). The quarterly gain almost erased the steep decline from the fourth quarter of …
404.445.7885
