Awards may not be indicative of one client’s experience or of the Firm’s future performance. Rankings published by magazines and others are generally based on information prepared and/or submitted by the recognized advisor. The labor Department also said unemployment dropped to 3.6 percent, beating analysts' expectations of 3.8 percent and the lowest rate since 1969.īrian Amidei, along with Partners Joseph Romano and Brett D'Orlando have also been named *2014, 2015, 2016, 2017, 2018 Five Star Wealth Managers!Īwards and recognitions by unaffiliated rating services, companies, and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Fortem is engaged, or continues to be engaged, to provide investment advisory services nor should they be construed as a current or past endorsement of Fortem or its representatives by any of its clients. Read Story Stocks higher on big April jobs report, falling unemployment Torsten Slok of Deutsche Bank, Germany's biggest lender, says clients around the globe were worried. INVESTORS STARTED the year brooding about the risk of an American recession. Today the US president tweeted his plans to introduce greater tariffs on Chinese goods, despite recently suggesting that trade negotiations were going well. Read Story Trump says he'll hike tariffs on China as the trade war t. Disposable personal income (DPI) increased $0.6 billion, (less than 0.1 percent) and personal consumption expenditure. Personal Income and Outlays, March 2019 Personal income increased $11.4 billion (0.1 percent) in March according to estimates released today by the Bureau of Economic Analysis. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.ġ. Source: Pacific Global Investment Management CompanyĬhart reflects price changes, not total return. The market bias remains positive despite occasional pullbacks.
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This snapshot is consistent with other corporate commentaries which support an improving view of global economies.Īs the end of earnings season nears, the markets will likely focus on the progress of U.S. Oil service companies also report greater demand and an optimistic outlook. The company commented that customers expect that shipping demand will grow during 2019. A container leasing company experienced seasonal weakness yet still reported utilization in the mid-90% range. Individual company results include weather-related factors which caused a railroad company to slightly miss earnings expectations while reporting broad-based demand across all sectors. The inflation debate will likely continue over time, officials may need to modify historical assumptions about inflation.Ĭorporate earnings continue to exceed analyst expectations overall, with results from 76% of companies in the S&P 500® Index reporting, earnings have declined by -0.8% compared to estimates of -4.8%. Increased productivity also enables companies to improve sales revenues without offsetting employment expenses. Productivity improvements are key objectives for many companies gains here are especially important given the low unemployment rates. Other economic data were mixed notably, productivity rose 2.4% year-over-year, the highest increase since 2010. Many companies have been aggressive in developing training programs to fill specialized jobs. Unemployment fell 0.2% to 3.6%, the lowest rate since December 1969. For the week, the Russell 2000® Index led the indices (1.40%) followed by the Nasdaq (0.22%), S&P 500® Index (0.20%) the Dow Jones Industrial Average trailed with a slight (-0.14%) decline.įriday’s release of the April jobs report provided a positive surprise the economy gained 263,000 new jobs versus expectations for 181,000-190,000. The market’s selloff on Wednesday reflected its disappointment and yet, the markets recovered by Friday.
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However, in announcing no change to interest rates, Chairman Powell stated that the factors contributing to low inflation were “transitory” and there was no need to consider raising or lowering interest rates. White House officials and some economists argue that the Fed should support continued economic expansion by lowering interest rates indeed, in the lead up to the Fed’s meeting on Wednesday, many investors anticipated a rate cut. The latest inflation reading (specifically, the PCE Core rate) fell to an annual rate of only 1.6% despite overall strength in the economy. The persistently low rate of inflation is feeding a debate on the Federal Reserve’s monetary policy.