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Bob Carey
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  US Stock Markets Ended August 24, 2018
Posted Under: Weekly Market Commentary

 
Equites climbed through the week to exceed the previous high set in January for the S&P 500. An expanding economy coupled with rising earnings pushed the index up to return over 12% since the early February low. In Jackson Hole, WY, the Federal Reserve Chairman signaled the Fed has no intention to raise interest rates at a faster pace as employment and inflation data remain within their target range. The nine-year bull market has seen plenty of swings of late as global growth, currencies, commodities, and geopolitical risks all weigh on investors' conscious. Traditional safety trades, bonds and gold, have seen elevated interest as 10-year yields have dropped from over 3% to 2.8%. Gold saw an uptick from its mid-August low to close over $1,200 an ounce for the first time in two weeks. Political spectacle in the form of a guilty plea and a conviction shed light on some of the dark operations of President Trump's life prior to the Presidency. The potential for a power shift in Washington after the November mid-term elections will shape the market's outlook in the coming months. At the center of that power is the administration's policy on trade with China. Talks in the Capital last week moved away from a compromise and shifted the conversation to new tariffs on over $200 billion in annual imports from China. The President has already championed new restrictions on inbound investment from China last week. Investors will be looking to Washington for answers as President Trump continues to drive sentiment. Looking ahead, GDP, pending home sales, and personal income reports fill up the calendar for an eventful economic release week.
Posted on Monday, August 27, 2018 @ 8:26 AM • Post Link Share: 
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These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
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