Weekly Market Snapshot – June 14, 2019
Created by: Sam Tenney
- Globally the production and service industry fell below threshold levels for the first time since 2012 (threshold 50.0). ¹
- Market breadth continues to support the bull market as advance/decline lines continue to push all-time highs. History tells us that market breadth has peaked 6–12 months ahead of major bear markets. ²
- Fed fund futures show about a 15% chance of a cut at the June meeting and a 75% probability of a cut at the July meeting. The June meeting is scheduled for 6/18/19-6/19/19 and the July meeting will be 7/30/19-7/31/19. ³
Notes: Manufacturing PMI is an equally weighted average of orders, stock, sales, delivery, and supply. Industrial output however is calculated based on a set year, currently 2012, and calculates the total output of manufacturing, mining, drilling, electricity and gas. It also calculates capacity and total possible capacity.
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