Weekly Update: As we enter this holiday week, I recommend that we all pause and think about what we are thankful for. We are all fortunate to live in this great country. McQueen Financial Advisors will be closed Thursday for Thanksgiving and closed on Friday so we can all go shopping. Financial people love deals. It appears that everyone on our email list put an order in on their new
Enthusiasm in the markets.
Weekly Update: Good morning and happy Monday! Enthusiasm was rampant in the stock market last week, as we reached a new record high. Also, Saudi Arabia’s state-owned energy company Aramco is having an IPO. The company is valued at $1.7 trillion, or a little below the goal of $2 trillion. On the obscure side of things, I (unfortunately) saw my first presidential campaign ad on television for the 2020 election.
Houses & Auto.
Weekly Update: Good morning and happy Monday! Winter is here in the great north. We have a full-blown winter advisory and snow is blanketing our parking lot this morning. And it is only November 11th. No one likes to go on home tours in the snow, so it is no surprise that home sales are down, although the snow is not to blame this time. Existing home sales have remained
Weekly Update: Good morning and happy Monday! Economic news was in vogue last week. The FOMC decided to lower the Federal Funds rate by 0.25% to a range of 1.50% to 1.75%, and we feel they are done lowering rates until well into the first quarter of next year. Additionally, Gross Domestic Product (GDP) for the third quarter of 2019 was announced this last week, coming in at 1.90%, which
Weekly Update: Good morning and happy Monday! After a week of mixed messages, both economically and politically, we are looking forward to a “quiet“ week. Although, with the geopolitical world in a bit of turmoil and continued political action with impeachment I doubt that it will be a quiet week. The fires in California along with the related power outages may start to add concern to the consumer spending strength.
Weekly Update: Good morning and happy Monday! The bond and stock markets are closed today in observance of Columbus Day. The unrest in the repo market has led the Federal Reserve to announce that it is going to buy U.S. Treasuries to stabilize the market. The Fed plans on buying 60 billion dollars in U.S. Treasuries a month, starting in mid-October and continuing at least through the second quarter of
Weekly Update: Good morning and happy Monday! Economic reports continued to be mixed. On the positive side, the unemployment rate has hit an all-new low of 3.5%. There is a record number of Americans employed, which relates directly to the combination of Baby Boomers still working and Millennials entering the workforce. There is also a slowing in manufacturing, with the PMI index declining 1.3 percentage points to 47.8 percent. Interest
Weekly Update: Good morning and happy Monday! The economic focus of the week has been the unrest in the repo market. The New York Federal Reserve has stepped in and injected liquidity. The rationalization for this lack of liquidity includes corporate tax payments, debt issuance, and lack of participation in the markets. The Fed has pledged to keep funding markets until at least October 10th. The other news blanketing the
Consumers strength index.
Weekly Update: Good morning and happy Monday! It is a great Monday, as the Detroit Lions are undefeated for the year. 2 wins, 1 tie, and 0 losses. Not the 3-loss start I imagined they would have at this point. My surprise with the Lions reminds me of my surprise on the consumers continued strength. During this economic uncertainty (on TV), the consumer (watching Netflix) is not watching Broadcast TV
Weekly Update: Good morning! Uncertainty is in full swing, on this Monday morning. We are seeing the videos of fires and billowing black smoke over the desert. The hit to the oil infostructure in Saudi Arabia is significant. And, the USA is a net oil exporter. So, the changes in oil production will cause increases in pricing, but they will not disrupt our supply. Other issues boiling up this weekend