by Rob Richardson, CFA® – Market Snapshot
- The Federal rate hike occurred as expected – policy makers appeared more aggressive, increasing odds of two more hikes this year.
–JP Morgan Chase estimates, even with 5 rate hikes through 2019, financial conditions should not impact economic growth and market.
- US/North Korea Summit had little impact and little output. ¹
- Headline inflation was 2.8% year over year (y/y) – highest since 2011. ²
- Markets Dow Jones Industrial Average, Standard & Poor’s 400 & 500, NASDAQ, and Russell 2000 are all positive for the year.²
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Rob Richardson, CFA® works with Fidelis Wealth as institutional asset management and research. Most recently he covered hedge funds for Intermountain Healthcare’s Pension and Corporate Investment portfolios. Prior to that he worked as a Research Analyst for The Broe Group, researching private equity and venture capital opportunities, and Stifel Financial as an Equity Research Associate covering Applied Technology stocks. Rob is also a CFA Charterholder and a graduate of Lockheed Martin’s Finance Leadership Development Program.
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