In this week’s recap: the Dow crests 28,000; more hints
emerge that the U.S. and China could be heading toward a new trade pact; retail
sales rise.
Weekly Economic Update
THE WEEK
ON WALL STREET
Stock
benchmarks were little changed for much of last week, but a rally occurred
Friday after news broke that the U.S. and China could be closing in on the
first phase of a new trade pact.
At
Friday’s close, the Dow Jones Industrial Average crossed the 28,000 level. The
Dow rose 1.17% for the week, outgaining the S&P 500 (which advanced 0.89%)
and the Nasdaq Composite (which added 0.77%). The MSCI EAFE index, representing
developed overseas stock markets, fell 0.77%.1,2
Will
There Be a Trade Breakthrough?
Friday,
Secretary of Commerce Wilbur Ross told the media that “in all likelihood,” a
phase-one trade deal between China and the U.S. would presently happen, stating
that the talks were “down to the last details.” Thursday evening, White House
economic adviser Larry Kudlow expressed similar optimism, noting that
negotiations were “coming down to the short strokes.”
That
said, the Wall Street Journal reported last week that President Trump is
not yet committed to signing a phase-one trade deal. Secretary Ross noted that
such an agreement would be “relatively limited in scope.”3,4
Consumers
Boost Their Buying
Retail
sales advanced 0.3% in October, according to the Department of Commerce. That
matched the gain forecast by economists polled by MarketWatch. This was a
comeback after a September decline.5
T I P O F
T H E W E E K
Do you have a life insurance policy outside of work? Do you know who its beneficiary is? From time to time, you want to periodically review your beneficiary decisions, to make sure you still agree with them.
THE WEEK
AHEAD: KEY ECONOMIC DATA
Thursday: The National Association
of Realtors presents data on October existing home sales.
Friday: The University of
Michigan publishes its final Consumer Sentiment Index for November (an assessment
of consumer confidence).
Source:
Econoday, November 15, 2019
The Econoday economic calendar lists upcoming U.S. economic data
releases (including key economic indicators), Federal Reserve policy meetings,
and speaking engagements of Federal Reserve officials. The content is developed
from sources believed to be providing accurate information. The forecasts or
forward-looking statements are based on assumptions and may not materialize.
The forecasts also are subject to revision.
THE WEEK
AHEAD: COMPANIES REPORTING EARNINGS
Tuesday: Home Depot (HD),
Medtronic (MDT), TJX Companies (TJX)
Wednesday: Lowe’s (LOW), Target
(TGT)
Thursday: Intuit (INTU), Ross
Stores (ROST)
Source:
Zacks.com, November 15, 2019
Companies
mentioned are for informational purposes only. It should not be considered a
solicitation for the purchase or sale of the securities. Any investment should
be consistent with your objectives, time frame, and risk tolerance. The return
and principal value of investments will fluctuate as market conditions change.
When sold, investments may be worth more or less than their original cost.
Companies may reschedule when they report earnings without notice.
Q U O T E O F T H E W E E K
“Every next level of
your life will demand a different you.”
Leonardo DiCaprio
T H E W E E K L Y
R I D D L E
I give light by night,
but not by day. Wicked I am, but not evil in any way. I mostly wax,
but always wane. Except when I'm out, I stay the same.
What am I?
LAST WEEK’S
RIDDLE: I float when I am born, lay down when I am alive, and run when I am
dead. What am I?
ANSWER: Snow.
Troy L Thompson, CFP may be
reached at 515-432-5421 or troy@thompsonfinancialinc.com
www.thompsonfinancialinc.com
www.thompsonfinancialinc.com
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Troy Thompson, CFP
DBA Thompson Financial and Hanson Asset Strategies
Securities offered through FIRST HEARTLAND CAPITAL, INC.
Member FINRA & SIPC.
Thompson Financial is not affiliated with FIRST HEARTLAND
CAPITAL, INC.
This material was prepared by MarketingPro, Inc., and does
not necessarily represent the views of the presenting party, nor their
affiliates. The information herein has been derived from sources believed to be
accurate. Please note - investing involves risk, and past performance is no
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Additional risks are associated with international investing, such as currency
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1 - wsj.com/market-data
[11/15/19]
2 - quotes.wsj.com/index/XX/990300/historical-prices [11/15/19]
3 - bloomberg.com/news/articles/2019-11-15/kudlow-says-phase-one-china-deal-down-to-the-short-strokes-k2zgbx0k
[11/15/19]
4 - foxbusiness.com/politics/u-s-china-trade-deal-near-but-trump-not-signing-yet
[11/15/19]
5 - marketwatch.com/story/us-retail-sales-rebound-in-october-but-a-small-group-of-stores-reap-most-of-the-gains-2019-11-15
[11/15/19]
CHART CITATIONS:
quotes.wsj.com/index/XX/990300/historical-prices
[11/15/19]
quotes.wsj.com/index/SPX/historical-prices
[11/15/19]
treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield
[11/15/19]
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