I hope you had a good weekend!
The stock market had a strong week, finishing up almost 3%.
In fact, this week turned out to be the strongest week for the S&P 500 (index) since November of last year. Consumer sentiment rose to its highest level of 2019 beating expectations. In our view, this is providing a strong narrative for the US spender.
Next week we’ll be watching the US Federal Reserve’s interest rate policy.
Many investors are expecting interest rates to stay put, which in our view would be pro-growth.
See you next week!
The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. The information provided does not take into account the specific objectives, financial situation or particular needs of any specific person. Diversification does not ensure a profit or protect against a loss in a declining market. There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income. Forecasts or projections of investment outcomes in investment plans are estimates only, based upon numerous assumptions about future capital markets returns and economic factors. As estimates, they are imprecise and hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Investing entails risk including the possible loss of principal and there is no assurance that the investment will provide positive performance over any period of time.
The stock market is in reference to the S&P 500 Index. The S&P 500 index’s performance was in reference to Bloomberg terminal’s ticker SPX Index for the time period of 3/11/2019 – 3/15/2019. This figure provided is an approximation of total return with dividend reinvestment gathered from the function within Bloomberg’s terminal. An index is unmanaged, does not reflect management or trading fees, and one cannot invest directly in an index. This week’s S&P 500 performance being the strongest since November is in reference to the Bloomberg article, “Tech Spurs U.S. Stock Market to Best Week Since November: Markets Wrap” by Jeremy Herron and Vildana Hajric. Consumer sentiment reaching the highest level this year is in reference to the Bloomberg article, “U.S. Consumer Sentiment Exceeds Forecasts on Income Optimism” by Carylann Edwards. The statement of other investors expecting interest rates to stay put was a statement of opinion.