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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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John Van Sant began his career in wealth management in 2005 and has spent more than 20 years in leadership roles focused on operational excellence, strategic growth, and advisor support. Prior to joining Fidelis, John served as President and CFO at Cascade Financial Management and as OSJ Principal with LPL and Apollon Financial.

As COO and CCO at Fidelis, John draws on deep industry experience and a passion for building advisor-focused platforms, systems, and processes that help deliver an
exceptional client experience. He currently holds Series 7, 24, 28, and 65 licenses.

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John holds a bachelor’s degree in international business from Johnson & Wales University. A proud husband and father of two daughters, he is an avid golfer, dedicated “Dance Dad,” and enjoys beach days in Mount Pleasant, South Carolina, where he now resides after many years in Colorado.

Karley Fidani, CPFA®

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Before joining Fidelis Wealth Advisors in 2022, Karley ran several local businesses, selling products both in the Castle Rock area and online. Her passion for entrepreneurship and finance led her to earn a degree in Financial Management from the University of Colorado Denver.

At Fidelis, Karley has specialized in assisting small business clients with their employer 401(k) plans. She has also taken on client-facing roles as advisor and paraplanner. Karley holds her Series 65 license and is a NAPA Certified Plan Fiduciary Advisor (CPFA®). She plans to pursue the Certified Financial Planner® designation in the near future.

Karley is passionate about building relationships with clients and is dedicated to providing a thoughtful, valuable experience that brings them peace of mind.

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A Colorado native, Karley grew up in Castle Rock. She enjoys spending her free time riding her horse, Dante, hiking and mountain biking with her husband, 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.

Tina Jessick

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Tina first began her accounting career in 2019 as an Intern at an accounting firm in Wichita, KS. She started working at Fidelis Wealth Advisors as an Administrative Assistant spring of 2025. Tina hopes to assist in helping clients achieve their financial goals long-term and looks forward to making a difference at Fidelis Wealth Advisors.

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Tina is currently attending Wichita State University in pursuit of two degrees in Finance and Accounting. She is a Kansas native, growing up in city known as the “Air Capital of the World”. She now resides in Castle Rock, Colorado with her husband and three kids. When she’s not running after her kids, she enjoys hiking, crafting, pottery, dance and baking.

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