Weekly Market Snapshot – September 9, 2019
Created by: Sam Tenney
- Non-farm payroll growth has fallen to 8-year lows of 1.56%, while not contractionary this signals a slowing of growth in private employment, which could show further weakness given sufficient economic shocks.¹
- Expectations of a 25-basis point cut at the September 17-18, Federal Reserve meeting has been 95% priced into bonds, if it goes through this will be the second rate cut by the Fed this year.²
- With only about a dozen S&P 500 Index companies left to report, second quarter 2019 earnings are tracking down 0.4% year over year, although they are above June 30, 2019, estimates (-2.7%) . Forward earnings estimates have fallen 1.8% since June 30 amid tariffs, slower global growth, and a strong dollar.³
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