Weekly Market Snapshot – November 18, 2019
Created by: Sam Tenney
- All major indices, including Dow Jones Industrial, S&P 500, and NASDAQ hit new all-time highs November 15th, 2019 with an optimistic outlook on trade war progress, and a 0.3% rebound in retail sales data. However, industrial production continued to slide in October at -1.5% year over year growth.¹
- Federal Reserve Chairman, Jerome Powell, stated on November 14th, 2019 that he believes the Federal Reserve has acted appropriately to sustain the current cycle for another 2 years, but GDP Growth for Q4 2019 has been revised down to 0.3%.²
- WeWork has posted a $1.25 billion operating loss for the quarter. Softbank plans to bring 2 billion in corporate bonds for WeWork to market to solve their deficit. This could signal a reversal in sentiment towards “cash burning” growth startups.³
Please note by using any of the links provided for your convenience, you will be leaving Fidelis Wealth Advisors website. The hyperlinks are to websites and servers maintained by third parties. We do not control, evaluate, endorse, or guarantee content found in those sites. Your use of such sites is at your own risk.
This blog is general communication being provided for informational purposes only. This information is in no way a solicitation or offer to sell securities or investment advisory services. It is educational in nature and not to be taken as advice or a recommendation for any specific investment product or investment strategy. This does not contain sufficient information to support an investment decision. Any investment or investment strategy mentioned may not be suitable for all investors or in their best interest. Statistical information, quotes, charts, references to articles or any other quoted statement or statements regarding market or other financial information is obtained from sources which we believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. All rights are reserved. No part of this blog including text, graphics, et al, may be reproduced or copied in any format, electronic, print, et al, without written consent from Fidelis Wealth Advisors, LLC. Fidelis Wealth Advisors does not provide legal or tax advice. Please be advised to consult with your investment advisor, attorney or tax professional before making any investment decisions.