Most of the U.S. markets had a solid Q3.
The sixth FOMC Fed meeting of the year took place last Tuesday and Wednesday. As expected the Fed raised their interest rate up ¼ point; now at +2.0%.
Fed Chair Jerome Powell said the high levels of consumer and business confidence was “a particularly bright moment for the economy”.
The final read on Q2’s GDP remained at +4.2% growth. The 5-month average is +3.1% (a really good thing).
Durable goods orders were up +4.5% in August, blowing away the consensus of +2.2%. The July number was revised upward from -1.7% up to -1.2%.
The economic focus of the week: It will come on Friday morning when the latest jobs and unemployment numbers are revealed. Expectations are for 180,000 new jobs, and the unemployment rate is expected to drop a tick from 3.9% down to 3.8%.
Indicator focus: September’s ISM manufacturing index (Mon); ADP’s September employment report (Wed); August’s factory orders (Thu); and September’s jobs and unemployment numbers (Fri).
Hope you have a great week.
P.S. Please feel free to forward this commentary to family, friends, or colleagues. If you would like us to add them to the list, please reply to this e-mail with their e-mail address and we will ask for their permission to be added.
Securities offered through Securities America, Inc., member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc. Parker Wealth Management and Securities America not affiliated.
* The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. Yahoo! Finance, the Wall Street Journal, Investor’s Business Daily and Barron’s are several of the sources used for financial information.
* Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Consult your financial professional before making any investment decision. You cannot invest directly in an index. Past performance does not guarantee future results. No strategy can assure a profit or protect against a loss. Investments in the securities markets involve risk, such as loss of your principal.