Weekly Market Snapshot – August 12th, 2019
Created by: Sam Tenney
- On Monday, August 5th, major US indices closed the day with the largest drop of the year, Dow (-2.9%) and S&P (-3.0%).¹
- Also on August 5th, The US Treasury released an official statement after market close acknowledging the Chinese were manipulating their currency for international trade benefits.¹
- As of August 12th, 90% of S&P 500 companies have reported second quarter earnings, showing revenue growth currently at 4.1% and earnings per share are slightly down at -0.7%. ²
- German industrial production growth hit new 10-year lows, driven largely by a slowdown in German auto-production. This is a sign of continuing economic slowdown; German second quarter GDP results will be released August 14th, which may confirm economic trends.³
- Euro Area bond yields dropped into negative territory across the entire yield curve as of August 7th, 2019. Expectations of future growth and inflation are declining across Europe.⁴
3. https://seekingalpha.com/research/48075864-eric-basmajian/ Daily Data Flash: Producer Price Index, August 9 2019.
4. Weekly Market Recap.” Weekly Market Recap – J.P. Morgan Asset Management, JP Morgan Chase, 12 August 2019, am.jpmorgan.com/us/en/asset-management/gim/adv/insights/weekly-market-recap.
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