Weekly Market Snapshot – August 26th, 2019
Created by: Sam Tenney
- Major Market Indices Dow Jones (-2.4%) and S&P 500 (-2.6%) fell on Friday, August 23rd upon news of Chinese plans to leverage tariffs on $75 Billion of US imports. ¹
- US Purchasing Managers Index hit 10-year lows this week dropping to 49.9. Numbers below 50 represent a contractionary environment for country-wide manufacturer purchasing.²
- In Jerome Powell’s speech on “Challenges for Monetary Policy” during the Jackson Hole symposium on August 23rd, he said that “Trade policy uncertainty may pose challenges in the Fed’s framework” and that the “Fed will respond as necessary to promote stability” in regard to interest rate policy.³
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