MWM Weekly Update

The Week of July 8, 2019

MWM Weekly Update

The Week of July 8, 2019

Greetings,                

We have several highlights from last week’s market activity, as well as stories from our community.  As always, we remain committed to helping you navigate the ever-changing investment environment.

The following highlights should not be viewed as a recommendation, nor is this a notification of an impending change in asset allocation.  For more information, please contact your advisor with any questions.

MARKETS & OFFICE CLOSURES: Monday, September 2nd for Labor Day

In the Markets

Last Week
  • Last week, June's labor report was strong enough to likely prompt the Fed to hold interest rates at their current level (and forestall a rate cut). Feeding off the latest labor figures, stocks pushed ahead during the holiday-shortened week. The Nasdaq led the way, gaining close to 2.0%, followed by the large caps of the S&P 500 and the Dow, each of which enjoyed a solid week. The S&P 500 was up 1.7% last week and is now up 19.3% year to date. The Global Dow gained close to 1.0%, despite evidence of a slowing global economy. Pulling up the rear was the Russell 2000, which added over 0.5% in value by last week's end. Despite the performance of stocks, long-term bond yields held steady as prices inched down marginally.
  • On Sunday, Deutsche Bank released its much-anticipated overhaul plan which includes the creation of a bad bank, retreating from equities sales and trading and cutting about 18,000 jobs. The troubled German lender will book charges of 7.4 billion euros through 2022 and won’t pay a dividend this year or next. The board also approved a new management structure and some appointments as it looks to restore investors confidence.
  • Congratulations to the U.S. women's national soccer team who clinched its fourth World Cup title!

Source: Broadridge Financial Solutions

this Week
  • Just four S&P 500 companies report earnings this week, starting with PepsiCo on Tuesday. Delta Air Lines is next on Thursday. Second-quarter earnings season is about to ramp up. Forty-six firms report next week, followed by 91 the week after.
  • Inflationary pressures have been weak for much of the year. This week, both the Consumer Price Index and the Producer Price Index for June are out and will provide a good indication of the direction of consumer prices for the rest of the summer.

Source: Broadridge Financial Solutions

Articles & Education

Buying a Boat? Take a Peek at How the Costs Add Up

Money’s not the only factor to consider before making the purchase – but it’s certainly one of the most important ones.
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A Step-by-Step Guide to Hosting a Family Meeting

Where should you meet? What should you discuss? Who should be there? Consider these suggestions.
- Read More -
Investment Term of the Week

In the News

Last Week
this Week

In the Community

The Rice Museum of Rocks & Minerals

Save the date for an evening with astronaut Story Musgrave on October 26, 2019 at OMSI's Planetarium. A veteran of six space shuttle flights, and the only person to fly all five shuttles, Musgrave has spent almost 1,282 hours on space missions, including nearly 27 hours on space walks. He is most famous for his work to repair the Hubble Space Telescope, and he has insights on space exploration, STEM education, and more.

RJ Institute of Investment Management Consulting (IIMC)

Our Director of Investment Operations, Theresa Bedard, was selected to attend the three-day RJ IIMC Portfolio Management Group program at the Raymond James office in St. Petersburg. This program offers the opportunity to learn about sophisticated investment management consulting topics, such as asset allocation and portfolio construction, from RJ and industry investment experts. Just as important is the opportunity to spend time with other financial advisors, who have a similar commitment and business model, discussing issues our clients face today and best practices in managing those.

Please do not hesitate to call your advisor if you have any questions.
Until we speak again, have a wonderful week.

Thought of the Week


These highlights should not be viewed as a recommendation, nor is this a notification of an impending change in asset allocation. For more information, please contact your advisor with any questions. Opinions expressed in the attached article are those of Judith McGee and are not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice.

The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Any opinions are those of McGee Wealth Management and not necessarily those of Raymond James. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. . Investing involves risk and you may incur a profit or loss regardless of strategy selected.  The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S. stock market. The Dow Jones Industrial Average (DJIA), commonly known as “The Dow” is an index representing 30 stock of companies maintained and reviewed by the editors of the Wall Street Journal. The NASDAQ composite is an unmanaged index of securities traded on the NASDAQ system. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investor's results will vary. Past performance does not guarantee future results. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein. Asset allocation and diversification do not ensure a profit or guarantee against loss. Investing in emerging markets can be riskier than investing in well-established foreign markets. Investing involves risk and investors may incur a profit or a loss. Sector investments are companies engaged in business related to a specific sector. They are subject to fierce competition and their products and services may be subject to rapid obsolescence. There are additional risks associated with investing in an individual sector, including limited diversification. Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any websites's users and/or members.

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