Weekly Market Snapshot – October 7, 2019
Created by: Sam Tenney
- The monthly payrolls number of 136k was lower than the median estimate of 145k but revisions to the prior two months added back 45k jobs. Looking at the employment report from a cyclical standpoint, total employment growth increased to 1.44% year over year, remaining in the cyclical downturn starting in January of 2019.¹
- The Purchasing Manufacturers Index (PMI) fell to 47.8% for September. This is the second month in a row the US manufacturing sector has been in a contractionary environment. This led to a 1.9% drop for the Dow Jones and 1.8% drop for the S&P 500 on Wednesday, October 3rd²
- Many Central Banks met in September, and JP Morgan suggests that the global outlook is trending towards broad based monetary easing. Eurozone PMI fell to 45.7 and Japanese PMI fell to 48.9 for September, further supporting this assessment.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.