Are Investors Buying into the Equity Story?
|
|
- Myles Franklin
- 5 years ago
- Views:
Transcription
1 Are Investors Buying into the Equity Story? January 15, 2013 by Chris Maxey, Ryan Davis of Fortigent Stocks Climb in Quiet Week Stocks inched higher last week amid limited economic data and the start of Q4 earnings season. The S&P 500 increased 0.4%, while the Dow Jones Industrial Average rose 0.5%. Earnings season got underway last week with mostly encouraging reports from Alcoa and Wells Fargo. Alcoa posted a profit and reported revenue that topped analyst expectations. The aluminum-maker also forecasted aluminum demand would increase in Wells Fargo beat estimates after posting a 24% rise in earnings, but the stock declined due to compressed margins and a drop in mortgage volume. There are concerns Wells Fargo s margin data is symptomatic of the broader industry, which led to a modest decline in banking stocks in Friday s trading session. Current estimates call for a pickup in earnings growth relative to the previous quarter. FactSet analysis shows the index is projected to post a 2.6% gain. The S&P 500 managed to eke out a slightly positive result in the third quarter as the final reports trickled in, narrowly avoiding an end to an 11-quarter streak of positive earnings growth. Page 1, 2018 Advisor Perspectives, Inc. All rights reserved.
2 The National Federation of Independent Businesses (NFIB) released its monthly Small Business Optimism Index on Tuesday. Following a plunge of more than five points in November, the index recovered only 0.5 points in December to 88.0, the second lowest reading since March December s reading was in line with consensus expectations. Underlying responses of the survey were not encouraging an unsurprising result since the index is in recessionary territory. A full 70% of respondents reported that they felt the current period was a bad time to expand. A quarter of those noted that political uncertainty was the primary reason. NFIB Chief Economist Bill Dunkelberg pointed to the role of Congress indecision over the fiscal cliff in weighing on small business productivity in the month. The US trade balance unexpectedly widened in November by more than $6 billion. This was at odds with forecasts of a slight narrowing. Although exports increased in the month, a surge in imports of consumer electronics, pharmaceuticals, and autos led to the increase. Reports indicate that imports of Apple s iphone were the primary driver behind the surge, as the company s recently released iphone 5 saw robust demand ahead of the holiday season. The pace of positive surprises in US economic data has slowed markedly in recent weeks. The Citigroup Economic Surprise Index (CESI), which measures economic data levels relative to consensus expectations, has recently rolled over and appears headed for negative territory. This indicates that economic data is coming in weaker than analyst forecasts; Friday s disappointing trade data was one factor driving the index lower. Page 2, 2018 Advisor Perspectives, Inc. All rights reserved.
3 The recent trend in the CESI is a discouraging development for investors. The index has historically tracked the equity markets to a large degree, with market sell-offs coinciding with negative readings in the fall of 2011 and in May Despite the lack of economic reports domestically, there were some important releases internationally during the week. In Europe, the Eurozone reported that the monetary union s unemployment rate ticked higher to 11.8% in November. This is a record high level, propelled higher by a staggering 26.6% rate in Spain. Germany s rate was unchanged at 5.4%, but France saw its jobless measure creep higher to 10.5% during the month. Despite relative optimism by many market participants about Europe, as evidenced by falling sovereign yields in many peripheral countries, November s data underscores continued severe economic distress in the region. A pick up in Chinese inflation in December weighed on risk assets later in the week. The country announced consumer prices increased by 0.8% in December, a sharp jump from November s 0.1% rate. The rise was caused by an increase in food prices, particularly vegetables that were impacted by cold weather. After steadily declining over the past 18 months, the recent uptrend in Chinese consumer prices is a source of concern for many market participants. The year-over-year rate has increased during the past two months, causing many to fear the country will have to pull back on stimulative infrastructure programs. Still, at 2.5%, the current level of year-over-year inflation is well below the 6%-plus levels seen in mid are investors buying into the equity story? Last week we discussed the debate over active versus passive management. We believe active managers can add tremendous value in particular segments of the market, despite recent challenges. Outside of the active management discussion, many investors are deciding whether equities are a prudent place to allocate capital at this point in the market cycle. The first week of the year answered investors opinions on that question loud and clear. Page 3, 2018 Advisor Perspectives, Inc. All rights reserved.
4 To start the year, investors bought into equities in a big way. More than $22 billion was deposited in equity funds, the second largest inflow since data has been captured. Source: Business Insider The strange thing about last week s record equity flows was that bond flows failed to materially slow. Fixed income funds added another $6.5 billion, according to Bank of America Merrill Lynch. Strategists are of the opinion that 2013 could be a year when investors undertake the great rotation out of bonds and into equities. Investors, particularly those nearing retirement, still have income needs, however, and bonds are one of the few ways to satisfy that need. Source: Business Insider For equity investors, the recessionary and slower growth environment internationally resulted in few opportunities to add differentiation last year. In Fidelity s latest business cycle analysis, though, they surmise that China is in the early stages of economic growth, the US is in the middle innings, and countries like Germany are in the late portion of the cycle. Page 4, 2018 Advisor Perspectives, Inc. All rights reserved.
5 Source: Fidelity Investments Given the stage of the business cycle and the backdrop for equity investing, active equity managers could find themselves in a good position. It is important to remember that active managers, just like many things in life, go through cyclical periods of being in and out of favor. A recent analysis from Wellington Management showed that on a rolling three-year basis, active managers generally outperform in most environments, but there are periods of difficulty. Wellington concluded that a series of headwinds is affecting managers, but those headwinds are slowly abating. Source: Wellington Management Page 5, 2018 Advisor Perspectives, Inc. All rights reserved.
6 That bodes well for active equity strategies, but it is entirely possible that this year, much like the past several, will be marked by bouts of volatility. Around the debt ceiling debate in August 2011, equity markets lost more than 15%. The debt ceiling will once again become a focal point for investors towards the middle of the first quarter, and just as the fiscal cliff influenced markets, so too could the debt ceiling talks. Source: BCA Research Based on recent strategist discussions, 2013 looks to be the year of the stock. Such cohesion and agreement is rarely a positive for an investment, but there are reasons to think that the current path of low inflation, moderate economic growth, and declining uncertainty will bode well for equities this year. the week ahead Economic data picks back up this week with several releases spanning the consumer, housing, and manufacturing sectors. Notably, retail sales are due on Monday and housing starts are slated for Thursday. Inflation data is also on tap with the producer and consumer price indices scheduled for Wednesday and Thursday, respectively. Earnings season kicks into high gear as six Dow and 37 S&P 500 companies are due to report earnings this week. The bulk of S&P reporters are financial companies, including J.P. Morgan, Goldman Sachs, Bank of America, and Citigroup. Other notable companies include GE, ebay, Schlumberger, Intel, and American Express. On the central bank front, Russia, Brazil, Serbia, Chile, Colombia, and Mexico release interest rate policy this week. About Fortigent Fortigent, LLC delivers a fully integrated and customizable business-to-business outsourced wealth management solution to banks, trust companies, and independent advisory firms. Services include a comprehensive investment platform with particular expertise in alternative investments, a flexible unified managed account program, and consolidated wealth reporting. Fortigent's web-based portal Page 6, 2018 Advisor Perspectives, Inc. All rights reserved.
7 interface allows access to proposal and rebalancing tools, client portfolio reporting and accounting, as well as industry articles, research papers, and other practice management and business development resources. For more information, please visit our website at The information provided is general in nature and is not intended to be, and should not be construed as, investment, legal or tax advice. Fortigent makes no warranties with regard to the information or results obtained by its use and disclaims any liability arising out of your use of, or reliance on, the information. The information is subject to change and, although based upon information that Fortigent considers reliable, is not guaranteed as to accuracy or completeness. Not FDIC Insured No Bank Guarantee May Lose Value Fortigent Page 7, 2018 Advisor Perspectives, Inc. All rights reserved.
BCA 4Q 2018 Review and 2019 Outlook Russ Allen, CIO. Summary Outlook
BCA 4Q 2018 Review and 2019 Outlook Russ Allen, CIO Summary Outlook January 15, 2019 Markets in 2019 will be choppy with volatility more like this past year than the placid trading of 2017. The Fed is
More informationDan Miller - Advice & Portfolio Specialist Dan Wanstreet, CFA - Senior Advice & Portfolio Specialist
Dan Miller - Advice & Portfolio Specialist Dan Wanstreet, CFA - Senior Advice & Portfolio Specialist January 2018 Recap U.S. equities started the year off on a positive note, as recently passed tax reform
More informationEMPLOYMENT REPORT (MAY)
LPL RESEARCH WEEKLY ECONOMIC COMMENTARY May 30 2017 JUNE PREVIEW Matthew E. Peterson Chief Wealth Strategist, LPL Financial Ryan Detrick, CMT Senior Market Strategist, LPL Financial KEY TAKEAWAYS June
More informationMarket Watch. July Review Global economic outlook. Australia
Market Watch Latest monthly commentary from the Investment Markets Research team at BT. Global economic outlook Australia Available data for the June quarter is consistent with a moderation in GDP growth
More informationTIME FOR APRIL SHOWERS?
LPL RESEARCH WEEKLY ECONOMIC COMMENTARY April 2 2018 TIME FOR APRIL SHOWERS? John Lynch Chief Investment Strategist, LPL Financial Ryan Detrick, CMT Senior Market Strategist, LPL Financial KEY TAKEAWAYS
More informationEconomic and Financial Markets Monthly Review & Outlook Detailed Report January 2018
Economic and Financial Markets Monthly Review & Outlook Detailed Report January 1 NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE Overview of the Economy Business and economic confidence continue to
More informationWeekly Market Commentary
LPL FINANCIAL RESEARCH Weekly Market Commentary July 28, 2014 Burt White, MD Chief Invetment Officer LPL Financial Jeffrey Buchbinder, VP Market Strategist LPL Financial Second Quarter Earnings Season
More informationApril 2016 Market Commentary
April 2016 Market Commentary Domestic equity indices finished the month mixed, while international developed markets ended higher. The falling U.S. dollar continued to reverberate across markets, especially
More informationWeekly Market Commentary Update: June 17, 2013 Unconstrained Bond Funds Fail To Deliver
Weekly Market Commentary Update: June 17, 2013 Unconstrained Bond Funds Fail To Deliver Economic Data - Previous Date Series Actual Forecast Prior 6/11 NFIB SB Optimism 94.4 92.1 92.1 Improved economic
More informationZacks Earning Trends
April 16, 2014 Zacks Earning Trends Sheraz Mian SMian@Zacks.com Q1 Earnings Season Off to a Weak Start The 2014 Q1 earnings season has gotten off to a relatively soft start. Low expectations essentially
More informationThe Peterborough Census Metropolitan Area (CMA) spans the city of Peterborough and six other jurisdictions. The area is
PETERBOROUGH CENSUS METROPOLITAN AREA Presented by the Credit Unions of Ontario and the Ontario Chamber of Commerce 1 Peterborough s housing market saw a banner year in 2015. The Peterborough Census Metropolitan
More informationEconomic and Financial Markets Monthly Review & Outlook Detailed Report October 2017
Economic and Financial Markets Monthly Review & Outlook Detailed Report October 17 NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE Overview of the Economy Business and economic confidence indicators
More informationGLOBAL EQUITY MARKET OUTLOOK
LPL RESEARCH WEEKLY MARKET COMMENTARY KEY TAKEAWAYS 2017 was an excellent year for international equities, particularly EM. We favor the United States and EM equities for tactical global asset allocations
More informationUlster Bank Northern Ireland Purchasing Managers Index (PMI)
Ulster Bank Northern Ireland Purchasing Managers Index (PMI) Includes analysis of Global, Eurozone, UK, UK Regions, NI & Republic of Ireland economic performance by sector February 2016 Survey Update Issued
More informationASEAN Insights: Regional trends
ASEAN Insights: Regional trends December 2017 1. Global trends CONSUMER AND BUSINESS CONFIDENCE ROBUST; UNEMPLOYMENT RATE FALLS WHILE INFLATION EDGES UP The global economic environment continued on its
More informationPERSPECTIVE ON MARKET VOLATILITY
LPL RESEARCH WEEKLY MARKET COMMENTARY October 15 2018 PERSPECTIVE ON MARKET VOLATILITY John Lynch Chief Investment Strategist, LPL Financial Ryan Detrick, CMT Senior Market Strategist, LPL Financial Jeffrey
More informationAUGUST EMPLOYMENT REPORT REVIEW
LPL RESEARCH WEEKLY ECONOMIC COMMENTARY September 5 2017 SEPTEMBER PREVIEW TIME FOR VOLATILITY? Matthew E. Peterson Chief Wealth Strategist, LPL Financial Ryan Detrick, CMT Senior Market Strategist, LPL
More informationGlobal PMI. Solid Q2 growth masks widening growth differentials. July 7 th IHS Markit. All Rights Reserved.
Global PMI Solid Q2 growth masks widening growth differentials July 7 th 2017 2 Widening developed and emerging world growth trends The global economy enjoyed further steady growth in June, according to
More informationLeumi. Global Economics Monthly Review. Arie Tal, Research Economist. May 8, The Finance Division, Economics Department. leumiusa.
Global Economics Monthly Review May 8, 2018 Arie Tal, Research Economist The Finance Division, Economics Department Leumi leumiusa.com Please see important disclaimer on the last page of this report Key
More informationCORPORATE BEIGE BOOK COMMENTARY
LPL RESEARCH WEEKLY MARKET COMMENTARY December 11 217 CORPORATE BEIGE BOOK UPBEAT AS EXPECTED John Lynch Chief Investment Strategist, LPL Financial Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial
More informationGlobal Equities PUTTING RECENT MARKET VOLATILITY IN PERSPECTIVE
PRICE POINT February 2018 Timely intelligence and analysis for our clients. Global Equities PUTTING RECENT MARKET VOLATILITY IN PERSPECTIVE KEY POINTS The upswing in equity market volatility can be attributed
More informationProvided to you by Lee McLain
Provided to you by Lee McLain Lee McLain First Federal Bank of Kansas City 816.728.7700 lee.mclain@ffbkc.com NMLS:680316 Contents Weekly Review: week of June 18, 2018 Economic Calendar week of June 25,
More informationFIVE KEYS TO EMERGING MARKET OUTLOOK John Lynch Chief Investment Strategist, LPL Financial Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial
LPL RESEARCH WEEKLY MARKET COMMENTARY KEY TAKEAWAYS We favor emerging market and U.S. equities for tactical asset allocations based primarily on our outlooks for global economic growth and earnings. We
More information2013 Fourth Quarter Equity Market Review
Market & Investment Insights 2013 Fourth Quarter Equity Market Review WILLIAM RIEGEL, HEAD OF EQUITY INVESTMENTS Article Highlights: U.S. stocks moved higher in the fourth quarter, capping the best year
More informationIMPRESSIVE EARNINGS SEASON
LPL RESEARCH WEEKLY MARKET COMMENTARY May 14 2018 IMPRESSIVE EARNINGS SEASON John Lynch Chief Investment Strategist, LPL Financial Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial KEY TAKEAWAYS
More informationDanske Bank March 1 ST 2016 Economic Update,
Monthly update: Tuesday 1 March 2016 Danske Bank Chief Economist, Twitter: angela_mcgowan Local job and investment announcements during January 2016: The NI economy suffered a significant blow during the
More informationAsset Allocation Model March Update
The month of February was marked by a sell-off in global equity markets and a sudden increase in market volatility with the CBOE Volatility Index reaching its highest level since August 2015. The rout
More informationINVESTMENT OUTLOOK JUNE 2018 MACRO-ECONOMICS. Developed and Emerging Markets
INVESTMENT OUTLOOK JUNE 2018 MACRO-ECONOMICS Developed and Emerging Markets Trade tariffs and protectionist themes have dominated global markets throughout the year and risks have further heightened through
More informationSavings Rate Lowest In A Decade, Credit Card Balances Soar
Savings Rate Lowest In A Decade, Credit Card Balances Soar January 24, 2018 by Gary Halbert of Halbert Wealth Management 1. US National Savings Rate Falls to 2.9%, Decade Low 2. Median Savings Rates by
More informationFOURTH QUARTER EARNINGS SEASON
LPL RESEARCH WEEKLY MARKET COMMENTARY KEY TAKEAWAYS We expect a solid fourth quarter earnings season and believe a 14 16% year-over-year increase in S&P 5 earnings is achievable. Economic surprises, strong
More informationWeekly Economic Review April 18, 2014
Weekly Economic Review April 18, 2014 Both the labor market and growth have stabilized, albeit at low levels, which has bolstered the confidence of Americans in their own individual personal finances and
More informationEditor: Thomas Nilsson. The Week Ahead Key Events Jul, 2017
Editor: Thomas Nilsson The Week Ahead Key Events 10 16 Jul, 2017 European Sovereign Rating Reviews Recent rating reviews Upcoming rating reviews Source: Bloomberg Monday 10, 08.00 NOR: CPI (Jun) SEB Cons.
More informationCORRECTION PERSPECTIVES
LPL RESEARCH WEEKLY MARKET COMMENTARY February 12 2018 CORRECTION PERSPECTIVES John Lynch Chief Investment Strategist, LPL Financial KEY TAKEAWAYS A perfect storm of investor worries collided over the
More informationGlobal PMI. Global economy suffers loss of momentum in March. April 10 th IHS Markit. All Rights Reserved.
Global PMI Global economy suffers loss of momentum in March April 10 th 2018 2 Global economy suffers marked loss of growth momentum Global economic growth slowed sharply to the weakest for over a year
More informationCLICK TO EDIT MASTER TITLE STYLE Market Perspective
Market Perspective Bull Market Intact as Healthy Reset Continues May 9, 2018 Investment and Insurance Products: Are not FDIC or any other Government Agency Insured Are not Bank Guaranteed May Lose Value
More informationBy John Praveen, Chief Investment Strategist of Prudential International Investments Advisers, LLC.*
By John Praveen, Chief Investment Strategist of Prudential International Investments Advisers, LLC.* For Market Commentary Interviews Contact: Lisa Villareal, 973-367-2503/lisa.villareal@prudential.com
More informationAthena Wealth Management. March 2017 Investment Research Report
Athena Wealth Management March 2017 Investment Research Report Summary The Trump rally began to run out of fuel in March. But the MSCI emerging market index still recorded a growth of 2.35%, performed
More informationIndicators of a recovering economy Building permits through the roof
Indicators of a recovering economy The resale and new home market continues to improve nationwide. The National Association of Realtors reported that previously-owned homes sold at an annual pace of 4.92
More informationSEPTEMBER EMPLOYMENT REPORT REVIEW
LPL RESEARCH WEEKLY ECONOMIC COMMENTARY October 2 2017 OCTOBER PREVIEW BEWARE THE VOLATILITY? John Lynch Chief Investment Strategist, LPL Financial Ryan Detrick, CMT Senior Market Strategist, LPL Financial
More informationProvided to you by Lee McLain
Provided to you by Lee McLain Lee McLain First Federal Bank of Kansas City 816.728.7700 lee.mclain@ffbkc.com NMLS:680316 Contents Weekly Review: week of September 24, 2018 Economic Calendar week of October
More informationEurozone. Economic Watch FEBRUARY 2017
Eurozone Economic Watch FEBRUARY 2017 EUROZONE WATCH FEBRUARY 2017 Eurozone: A slight upward revision to our GDP growth projections The recovery proceeded at a steady and solid pace in, resulting in an
More informationfile:///c:/users/cathy/appdata/local/microsoft/windows/temporary Int...
1 of 5 9/25/17, 8:57 AM A Publication of the National Association of Manufacturers September 25, 2017 As expected, the Federal Reserve opted to not raise short-term interest rates at its September 19 20
More informationGlobal PMI. Global economic growth kicks higher at start of fourth quarter but outlook darkens. November 14 th 2016
Global PMI Global economic growth kicks higher at start of fourth quarter but outlook darkens November 14 th 2016 2 Global PMI at 11-month high in October Global economic growth kicked higher at the start
More informationFinancial Market Outlook: Stocks Rebounding from July Correction, Further Gains Likely. Bond Yields Range Bound
For Market Commentary Interviews Contact: Lisa Villareal, 973-367-2503/lisa.villareal@prudential.com Financial Market Outlook & Strategy: Stocks Rebounding from July Correction, Further Gains Likely. Bond
More informationANOTHER TOUGH WEEK COMMENTARY REASSURANCE KEY TAKEAWAYS LPL RESEARCH WEEKLY MARKET. October
LPL RESEARCH WEEKLY MARKET COMMENTARY October 29 2018 ANOTHER TOUGH WEEK John Lynch Chief Investment Strategist, LPL Financial Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial Ryan Detrick, CMT
More information2018 ECONOMIC OUTLOOK
LPL RESEARCH WEEKLY ECONOMIC COMMENTARY December 4 207 208 ECONOMIC OUTLOOK EXPECT BETTER GROWTH WORLDWIDE John Lynch Chief Investment Strategist, LPL Financial Barry Gilbert, PhD, CFA Asset Allocation
More informationMonthly Outlook. June Summary
Monthly Outlook June 2015 Summary Yields of US Treasuries (USTs) rallied in May, with the 2-year and 10-year yields up 4 and 9 basis points (bps) respectively as compared to end-april levels. During the
More informationin the province due to differences in their economic makeup or base. External macro factors play an
Summary dependent on mining and resources but face a weak outlook for metal Ontario s economic performance markets, where growth will remain is not shared equally in all regions low and possibly negative.
More informationReal GDP Growth Rebounds 4.0% in 2Q14
Economic Analysis Real GDP Growth Rebounds 4.% in 2Q14 Kim Fraser Chase The advance estimate for 2Q14 GDP growth was slightly higher than expected, coming in at 4.% on a QoQ seasonally-adjusted annualized
More informationINVESTMENT STRATEGY. Volatility Returns. us.cibc.com/private-wealth
INVESTMENT FINANCIAL STRARTEGY MARKETS VOLATILITY MONITOR RETURNS INVESTMENT STRATEGY Volatility Returns 1 The S&P 500 has dropped over six consecutive trading sessions and is now 7% below the all-time
More informationWeekly Economic Commentary
LPL FINANCIAL RESEARCH Weekly Economic Commentary August 13, 212 China Has Already Landed Softly John Canally, CFA Economist LPL Financial Please see the LPL Financial Research Weekly Calendar on page
More informationZacks Earning Trends
January 8, 2016 Zacks Earning Trends Sheraz Mian SMian@Zacks.com China & the Q4 Earnings Season The ramp up of the Q4 earnings season in the coming days will put the spotlight on the weak state of corporate
More informationCORPORATE BEIGE BOOK:
LPL RESEARCH WEEKLY MARKET COMMENTARY August 29 2016 CORPORATE BEIGE BOOK: OFFERS FEW SIGNS OF IMPROVEMENT Burt White Chief Investment Officer, LPL Financial Jeffrey Buchbinder, CFA Market Strategist,
More informationOUT OF THE WOODS? COMMENTARY STRONG FUNDAMENTALS KEY TAKEAWAYS LPL RESEARCH WEEKLY MARKET. February
LPL RESEARCH WEEKLY MARKET COMMENTARY February 20 2018 OUT OF THE WOODS? John Lynch Chief Investment Strategist, LPL Financial Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial KEY TAKEAWAYS Stocks
More informationQuarterly Market Review: April - June 2018 The Markets (as of market close June 30, 2018)
Quarterly Market Review: April - June 2018 The Markets (as of market close June 30, 2018) The second quarter of the year can be called a lot of things, but boring isn't one of them. The potential for a
More informationINVESTMENT OUTLOOK. August 2017
INVESTMENT OUTLOOK August 2017 INVESTMENT OUTLOOK AUGUST 2017 MACRO-ECONOMICS AND CURRENCIES Developed and Emerging Markets A series of comments from major central banks during the month, reminded investors
More informationTHE STOCK MARKET S FINAL FOUR FACTORS
LPL RESEARCH WEEKLY MARKET COMMENTARY ch 27 2017 THE STOCK MARKET S FINAL FOUR FACTORS Burt White Chief Investment Officer, LPL Financial Jeffrey Buchbinder, CFA ket Strategist, LPL Financial The NCAA
More informationSTRONG WEEK AHEAD OF BIG WEEKEND
LPL RESEARCH WEEKLY MARKET COMMENTARY December 3 2018 STRONG WEEK AHEAD OF BIG WEEKEND John Lynch Chief Investment Strategist, LPL Financial Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial KEY
More informationGrowth to accelerate. A quarterly analysis of trends in the Irish economy
Produced by the Economic Research Unit July 2014 A quarterly analysis of trends in the Irish economy Growth to accelerate Strong start to 2014 Recovery becoming more broad-based GDP growth revised up for
More informationGlobal PMI. Global economy buoyed by rising US strength. June 12 th IHS Markit. All Rights Reserved.
Global PMI Global economy buoyed by rising US strength June 12 th 2018 2 Global PMI rises but also brings signs of slower future growth At 54.0 in May, the headline JPMorgan Global Composite PMI, compiled
More informationNavigating the New Environment
Navigating the New Environment May 12, 2018 by Liz Ann Sonders, Jeffrey Kleintop & Brad Sorensen of Charles Schwab Key Points U.S. stock indexes have rebounded from their correction lows, although remain
More informationRecap of 2017 Markets and Economy
Welcome to 2018! As always, our primary goal this year is to continue our tradition of helping clients achieve their personal financial goals. To make that process more efficient, please review the 2018
More informationASEAN Insights: Regional trends
ASEAN Insights: Regional trends March 2017 1. Global trends GLOBAL ECONOMY SHOWS RESILIENCE AND RESURGENCE WITH STRONG BUSINESS SENTIMENT, ACCELERATION IN TRADE MOMENTUM The global economy continued its
More informationHong Kong/China Market
Hong Kong/China Market Technical Strategy The EUR depreciated against the USD after a short-lived rebound in late Sep18 Indices Latest Chg. Pts HSI 24,994-255 HSI Future 25,133 237 DJIA 24,985 401 S&P
More informationHong Kong & Mainland China News Feb-2013
Hong Kong & Mainland China News Feb-2013 Company legislation gazetted Wednesday, January 30, 2013 The first batch of subsidiary legislation for the new Companies Ordinance's implementation will be gazetted
More informationA SLOWER FIRST QUARTER A
Title: Advocacy Investing Portfolio Strategies, Issue 66 By: Karim Pakravan, Ph.D. Copyright: Marc J. Lane Investment Management, Inc. Date: March 17, 2015 A SLOWER FIRST QUARTER A wow payrolls report
More informationWEEKLY MARKET COMMENTARY
WEEKLY MARKET COMMENTARY Update on Risks and Opportunities in the Financial Markets October 2016 Weekly Market Commentary Week of October 10, 2016 HIGHLIGHTS We believe the earnings recession may have
More informationAs Good as it Gets Title of Goldman Sachs Research Paper, November 15, 2017
2017 Review and 2018 Outlook As Good as it Gets Title of Goldman Sachs Research Paper, November 15, 2017 2017 was a remarkable year in many ways. Despite a myriad of reasons to worry about potential pitfalls,
More information2014: Started with a Deep Hole, Ending with a Whimper Growth Received an Upgrade But Some Payback is in the Cards
2014: Started with a Deep Hole, Ending with a Whimper The year 2014 will be remembered for its roller-coaster pattern of economic growth. The unusually cold winter weather helped put growth in deep negative
More informationZacks Earning Trends
June 4, 2015 Zacks Earning Trends Sheraz Mian SMian@Zacks.com Looking Ahead to the Q2 Earnings Season With only a few earnings reports still to come, the Q1 earnings season is essentially over. The focus
More informationFinancial Market Outlook & Strategy: Stocks Bottoming On Track to Recovery. Near-term Risks
For Market Commentary Interviews Contact: Lisa Villareal, 973-367-2503/lisa.villareal@prudential.com Financial Market Outlook & Strategy: Stocks Bottoming On Track to Recovery. Near-term Risks John Praveen
More informationEARNINGS UPDATE: RAISING THE BAR
LPL RESEARCH WEEKLY MARKET COMMENTARY May 15 2017 EARNINGS UPDATE: RAISING THE BAR Burt White Chief Investment Officer, LPL Financial Jeffrey Buchbinder, CFA Market Strategist, LPL Financial KEY TAKEAWAYS
More informationQ Commentary & SERVICES GROUP, INC. EALTH - # -
Q1 2015 Commentary Overview As expected, 2015 started out with an increase in volatility across all asset classes. Global stocks experienced many large intraday moves, interest rates tested historic lows,
More informationForeign Exchange Rates. Key Global Indices. Straits Times 3, % 5.50%
Review for week ending 5 Sep 2014 Equities U.S. equities were midly higher for the week, despite a weaker than expected US labour repot. The Dow Jones Industrial Average, S&P 500 and Nasdaq gained 0.23%,
More informationMay PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook & Strategy
PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook & Strategy May 2016 Stocks under Shadow of Brexit Risk & Weak Earnings but likely to Grind Higher with Central Bank Put. Bonds
More informationMarket Bulletin. China: Still sneezing hard. January 20, 2016 MARKET INSIGHTS. In brief
MARKET INSIGHTS Market Bulletin January 20, 2016 China: Still sneezing hard In brief Slower 4Q15 GDP growth and soft December data add to concerns about China s economic health. On a more encouraging note,
More information- Stocks and credit sensitive bonds sold off in the fourth quarter of 2018 capping off the worst December since 1931.
Fourth Quarter 2018 Market Newsletter Summary. - Stocks and credit sensitive bonds sold off in the fourth quarter of 2018 capping off the worst December since 1931. - The US economy is moderating but is
More informationGlobal Investment Outlook & Strategy
PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook & Strategy February 2017 Global Stock Market Rally likely to Continue with Solid Q4 Earnings & Stronger 2017 Earnings, ECB
More informationInvestment. Insights. Emerging Markets. Invesco Global Equity. A 2012 outlook
Investment Insights Invesco Global Equity Emerging Markets A 2012 outlook Ingrid Baker Portfolio Manager Invesco Global Equity Many investors have watched from the sidelines as emerging market equities
More information[ ] WEEKLY CHANGES AGAINST THE USD
January 15, 2018 [ ] MACRO & MARKETS COMMENTARY» The European central bank (ECB) has indicated it should revisit its communication stance in early 2018, according to the ECB s minutes of December meeting
More informationBOND MODEL COMMENTARY FOR APRIL 9, 2007
BOND MODEL COMMENTARY FOR APRIL 9, 2007 Charts and technical commentary by David Chapman Union Securities Ltd, 33 Yonge Street, Suite 901, Toronto, Ontario, M5E 1G4 fax (416) 604-0533, (416) 604-0557,
More informationEditor: Felix Ewert. The Week Ahead Key Events 2 8 Oct, 2017
Editor: Felix Ewert The Week Ahead Key Events 2 8 Oct, 2017 Monday 2, 08.30 SWE: PMI Manufacturing (Sep) Index SEB Cons. Prev. PMI 60.5 -- 54.7 Manufacturing PMI showed an unexpectedly large fall in August.
More informationWells Fargo Target Date CITs E3
All information is as of 12-31-17 unless otherwise indicated. Overview General fund information Fund sponsor and manager: Wells Fargo Bank, N.A. Fund advisor: Wells Capital Management Inc. Portfolio manager:
More informationEurozone. EY Eurozone Forecast March 2014
Eurozone EY Eurozone Forecast March 214 Austria Belgium Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Outlook for Estonia
More informationKEY ECONOMIC AND MARKET INDICATORS
KEY ECONOMIC INDICATORS Latest Report Current Report Previous Report 2017 ECONOMIC GROWTH GDP Q4 2.9% 2.5% 2.3% EMPLOYMENT Non-farm Payrolls (000s) Mar 103 326 2,173 Private Payrolls (000s) Mar 102 320
More informationMarket Bulletin. 1Q18 earnings update: A tailwind from taxes. April 27, In brief. Volatility shows up to the party
Market Bulletin April 27, 2018 1Q18 earnings update: A tailwind from taxes In brief Volatility returned in the first quarter of 2018 as markets struggled to find their footing amidst concerns of inflation,
More informationFIRST QUARTER EARNINGS PREVIEW
LPL RESEARCH WEEKLY MARKET COMMENTARY KEY TAKEAWAYS The new tax law, solid economic growth globally, robust manufacturing activity, and a weak U.S. dollar set up another potentially strong earnings season.
More informationTracking the Growth Catalysts in Emerging Markets
Tracking the Growth Catalysts in Emerging Markets September 14, 2016 by Nick Niziolek of Calamos Investments The following is an excerpt of remarks made on August 30, 2016. The majority of the improved
More informationInsights from Northern Trust
Insights from Northern Trust Commentary from David Murdock, Western Region Managing Director April 12, 2010 The Streak Continues Last week, everyone anxiously watched as the Duke Blue Devils overtook underdog
More informationEARNINGS SEASON BEGINS
LPL RESEARCH WEEKLY ECONOMIC COMMENTARY April 3 2017 APRIL PREVIEW Matthew E. Peterson Chief Wealth Strategist, LPL Financial Ryan Detrick, CMT Senior Market Strategist, LPL Financial KEY TAKEAWAYS April
More informationAnother Strong Jobs Report, But Economy Remains Weak
Another Strong Jobs Report, But Economy Remains Weak August 9, 2016 by Gary D. Halbert of Halbert Wealth Management IN THIS ISSUE: 1. July Jobs Report Stronger Than Expected, 2 Month in a Row 2. The Real
More information[ ] WEEKLY CHANGES AGAINST THE USD
January 22, 2018 [ ] MACRO & MARKETS COMMENTARY» The U.S economy and inflation expanded at a Modest to Moderate pace during December 2017, while wages continued to push higher according to the Federal
More informationGlobal Equity Strategy Report
Global Investment Strategy Global Equity Strategy Report April 26, 2017 Stuart Freeman, CFA Co-Head of Global Equity Strategy Scott Wren Senior Global Equity Strategist Analysis and outlook for the equity
More informationChapter 2. Environment. We know. Knowing Our. Environment. Allows Us to Successfully Advance Our Strategy. Our Operational
Germán Salazar Castro, International and Treasury Vice-president and work team Our Operational Environment Knowing Our Environment Allows Us to Successfully Advance Our Strategy Chapter 2 We know Our Operational
More informationOctober 2016 Market Update
Market Update (10/2016) Allianz Investment Management LLC October 2016 Market Update Key Points The lack of further easing measures from both the Bank of Japan and the European Central Bank are causing
More informationConsensus Forecast for 2013
Consensus Forecast for 2013 William Strauss Senior Economist and Economic Advisor Review of past performance 1 The growth in real GDP was in-line with expectations quarterly forecasts made at last year
More informationEarnings Recession? April 8, 2015 by Burt White of LPL Financial
Earnings Recession? April 8, 2015 by Burt White of LPL Financial Earnings season kicks off this week (April 6 10) with Alcoa set to report first quarter 2015 earnings on Wednesday, April 8. This earnings
More informationIMPROVED ECONOMIC PROSPECTS IN 2013 SUPPORT RETURN TO EQUITIES
News Bank of America Merrill Lynch Financial Centre 2 King Edward Street London EC1A 1HQ For further media information contact: Sara-Louise Boyes, Senior Vice President Media Relations EMEA Merrill Lynch
More informationMarket/Index 2017 Close Prior Week As of 12/14 Weekly Change YTD Change DJIA % -2.50%
MARKET WEEK: DECEMBER 17, 2018 The Markets (as of market close December 14, 2018) A market correction refers to a decline in a stock or index of at least 10% following a temporary high price. After last
More informationGlobal Economic Review January 2016
M Global Economic Review January 2016 UNITED STATES Gross domestic product US real gross domestic product grew 0.7% in the fourth quarter, decelerating from +2.0% in the third quarter. Federal Reserve
More information