Weekly Market Snapshot – September 2, 2019
Created by: Sam Tenney
- Federal Reserve Chicago’s Purchasing Managers Index (PMI) rose a drastic 6% in August’s PMI report from 44.4 to 50.4. Consumer sentiment for the area dropped 2.2% to 89.8, Consumer sentiment has a lagging effect on consumption numbers, meaning that consumer sales are likely to decrease in the future, but current Chicago PMI suggest an immediate increase in consumption.¹
- Employment numbers year over year have been revised by the Bureau of Labor statistics, the revision is about 501,000 less jobs created then initially reported by the Bureau, a -0.3% overall decrease.²
- Seattle home prices fell to -1.32% on average year over year. Regional housing prices are generally cyclical indicators of how we expect real estate to perform. ³
- The Argentina government has been rated “selectively default” by Standard and Poor’s rating agency after failing to sell short-term bonds to investors. This is the second time the government has been declared default since the turn of the millennium.¹
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.