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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.
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Market Snapshot – October 21st, 2019

Weekly Market Snapshot – October 21, 2019

Created by: Sam Tenney

On black Friday in 2008 I went to the outlet mall in Castle Rock to score some big holiday deals.  You may remember, in the weeks leading up to the 2008 shopping season Lehman Brothers had gone bankrupt, AIG, GM, and Ford all received or were in the process of requesting a massive bailout from the government and the stock market was fluctuating 500 to 800 points up and down it seemed daily.

To my surprise, the activity at the outlet mall was incredible.  There were cars parked everywhere and there was a line of lights from cars backed up for miles on I-25 to get to the outlets.  I thought to myself, “This doesn’t seem like the type of activity you’d see if the economy is struggling that badly.”  Perhaps I was naive, or maybe more activity was focused on discount retailers given the recent events and shoppers were seeking “deals” anticipating harder times ahead.  Either way, sometimes what we observe and what is happening don’t seem to align.

Consumer confidence can sometimes be misleading.  For example, the chart below takes the University of Michigan Consumer Confidence Index (which measures how individuals feel about their own financial situation) versus the Conference Board’s Consumer Confidence Index (which measures how they feel about the overall economy).  This chart takes the reading from the U of M index minus the Conference Board’s index.  When consumers are concerned about their own situation but feel better about the overall economy the measures diverge and the chart plummets.  The composite indicator typically reaches a low prior to recessions, and it currently is lower than at any other time since 1979. We see this as an additional indicator to stay defensive at this time.

  • Chinese Gross Domestic Product growth has slowed again to 6.0% year over year, the lowest in two decades. This has been impacted by Chinese policy maker efforts to slow down on excessive credit growth.¹
  • Market rates for 2-year treasuries have completely priced in another rate cut at the Federal Reserve Open Committee meeting for October 29th. As of October 18th, the yield curve has flattened on the 3-month to 10-year marks and is less than a 10 basis-point spread on the 3-month to 2-year.²
  • The S&P finished the week at 0.55% growth, with the Dow slightly trailing at 0.30% growth. High trade expectations and earnings led early gains, but were cut short end of week by Boeing and Johnson & Johnson legal troubles.³

SOURCES

1.  https://www.bloomberg.com/news/articles/2019-10-18/china-economic-growth…

2.  https://www.ft.com/content/06954916-f083-11e9-ad1e-4367d8281195

3. https://www.marketwatch.com/story/stock-index-futures-struggle-for-direc…

4.  weekly_market_recap 10-14.pdf

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.

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Brandon Waite

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Brandon is new to the wealth management business, however, he brings many skills useful to the profession because of his prior experience. Brandon has worked in the accounting world auditing hedge funds, venture capital firms, and low-income housing organizations. Assessing business risk and financial GAAP accounting has been his primary focus. He is passionate about the world of finance and helping individuals accomplish their financial dreams.

Brandon graduated from Brigham Young University- Idaho with a bachelor’s degree in accounting. Additionally, he holds two professional designations, Certified Public Accountant (CPA) and Certified Fraud Examiner (CFE).

 

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He lives in Castle Rock with his wife Emily, and their three daughters. Most of his free time consists of taking his daughters to the park, enjoying all types of sports, and watching movies.

Bailey Marudas-Jones

Bailey Marudas-Jones joined Fidelis Wealth Advisors in 2024, where she supports the back office by managing client onboarding and ensuring compliance. She also helps alleviate the team’s workload by handling various administrative tasks and processes. With a deep commitment to efficiency and excellence, Bailey is excited to contribute to the team’s success and help clients navigate their financial journeys at Fidelis Wealth Advisors.
Bailey grew up in Littleton, Colorado, where she still lives. In her free time, she enjoys watching old movies, reading, and learning to sew. She also loves spending time with her family and friends

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Karley Winder

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Before joining the firm in 2022, Karley ran several local businesses, selling products in the Castle Rock area and online. Her passion for business inspired her to earn a degree in Financial Management from the University of Colorado Denver. At Fidelis, she has specialized in 401(k) plans and has also developed expertise in client-facing roles as a paraplanner. She holds a Series 65 license and plans to earn her Certified Financial Planner® designation. She is committed to providing a valuable experience that brings clients peace of mind.

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Karley is a Colorado native and grew up here in Castle Rock. She enjoys riding her horse, Dante, hiking and mountain biking the beautiful state of Colorado, and playing electric guitar.

Rilee Erickson

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Rilee began working in the financial services industry in 2017 as an associate specializing in property and casualty insurance, as well as life insurance.  Since joining Fidelis Wealth Advisors she has taken on a paraplanner roll, providing life insurance support, as well as client and operations support. She also hopes to obtain her own Certified Financial Planner® designation in the years to come. Rilee’s passion in the industry is helping people protect their family and their future.

 

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Rilee graduated from the University of Wyoming with a Bachelor of Science in Agribusiness and Horticulture Science. She is a Wyoming native, growing up on the family cattle ranch in Lander, Wyoming, and now resides in Green River, Wyoming with her husband and two boys. Rilee enjoys spending a lot of time outdoors and exploring the beautiful and rugged Wind River Range.

Skye Fineran

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Skye comes to Fidelis Wealth Advisors as an Administrative Assistant in 2021 and is a recent graduate from West Texas A&M University. There she earned a Bachelor of Business Administration in Management. Skye also completed Amarillo College’s paralegal certification program. Skye enjoys the rewarding feeling of helping clients to achieve their financial goals and looks forward to making a difference at Fidelis Wealth Advisors.

 

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Skye grew up in Tecumseh, Michigan and currently resides in Castle Rock, Colorado with her family. Skye loves art history, playing golf, and spending time with her family and friends.

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Fidelis Wealth Advisors has a strategic partnership with RIA Innovations, a Division of NWAM, LLC. RIA Innovations provides administrative support services for registered investment advisors nationwide. This service is under the direction of Nelly Mubashi, the Chief Operating Officer.

 

NWAM, LLC, dba Northwest Asset Management & RIA Innovations is an SEC registered investment adviser. NWAM, LLC dba Northwest Asset Management & RIA Innovations and Fidelis Wealth Advisors, LLC are not affiliated companies.

Gabriel Jones

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Gabe started with Fidelis Wealth Advisors as an Investment Research Assistant in 2018, and has an intense passion for investment research.


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Gabe is currently in college to obtain his Bachelors in Finance, and enjoys spending time outside of work hiking and reading.

Dawn Folmer

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Dawn Folmer comes to Fidelis Wealth Advisors with a background in the finance industry, having previous experience with a registered investment advisory firm in Denver. Dawn is a recent graduate of Colorado State University Global, earning a Bachelor of Science degree in Organizational Leadership. As a skilled financial planning assistant, she enjoys the rewarding feeling of helping people reach their financial dreams and retirement goals.

 

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Dawn is a Colorado native and resides in Castle Rock with her family, where they enjoy being adventurous and active in the outdoors. Additionally, she is passionate about travel, food, and playing golf.

Jeff Bullock

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Jeff joined Fidelis Wealth Advisors after spending nearly 10 years working at J.P. Morgan Wealth Management in their Private Bank. As Chief Investment Officer, he is responsible for the overall investment strategy, portfolio construction, and market insights for clients.

 

Jeff held various roles during his decade at J.P. Morgan, including working as an investment specialist on their trading desk, where he was responsible for managing and trading investment portfolios for High Net-Worth families and non-profit foundations throughout the Rocky Mountain region. Jeff helped co-manage over $4.0 billion of investment assets and gained broad experience in portfolio construction and investment strategy, as well as in-depth knowledge in a variety of asset classes and markets. In recent years, Jeff was part of the leadership team that trained new advisors and established an expansion office in Utah.

 

Jeff loves helping people with their money-related questions and management. Very simply, his goal is to help others continuously improve their financial situation, regardless of the current condition. His framework centers around sound advice and proper decision-making by engaging in honest discussion and taking a long-term approach.

 

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Jeff holds a B.S. in Accounting from Brigham Young University. He is a native to Colorado and loves playing golf and being outdoors. He lives in Highlands Ranch with his wife Nicole, and their two children.

Lorie C. Jones, MBA, CFP®

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Lorie began working in financial services in 2013 with a Registered Investment Advisory firm in South Denver. She started as a paraplanner and provided technology and operations support before transitioning to a Client Services Manager role with Empower Retirement. There she managed a book of 300+ Core Market plans before joining Fidelis Wealth Advisors.

 

Lorie enjoys the challenges presented by financial planning and is rewarded by helping clients thoroughly understand the complexities of finance so they can be better informed and in control of their planning.

 

In addition to securities licenses, she holds health, life, accident, property, and casualty insurance licenses in the state of Colorado and completed her CERTIFIED FINANCIAL PLANNER™ designation from the CFP® Board of Standards. She is also a member of the Financial Planning Association (FPA).

 

Lorie recently launched the “Fearless Females” podcast, providing a unique space for empowering discussions that inspire women in the financial services industry and beyond. Through insightful interviews and stories, she fosters a community where challenges are met with resilience, amplifying female voices and demonstrating her dedication to fostering inclusivity and fearlessness in finance.

 

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Lorie graduated from Colorado State University with an MBA. She enjoys running and has participated in several marathons and half-marathons around the country. She also enjoys hiking with her family, traveling with her husband David and their five children, and working with the cub scout and boy scout programs, including volunteering with the district.

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