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Northeast Equity Research, NE Equity, Ken Nagy, Ken Nagy CFA, asset manager, Chartered Financial Analyst, Boston Security Analysts Society, Retirement Solutions, College Funding, Tax Planning, Insurance, Foundations, Cash Flow Solutions, asset management, asset growth, financial goals, 401K Rollover, IRA Rollover, Retirement Income Solutions, Asset Management, Portfolio, Investment, preserve and grow your assets, Foundation investing, money managers on the north shore, money managers, Peabody MA

The Quarter in Brief

The third quarter of 2018 shall be remembered as a great one for stocks. The Dow Industrials, Nasdaq Composite, and S&P 500 all rose more than 7% in three months as bullish investors maintained their confidence in the face of some momentous news developments. Consistently strong economic indicators and impressive corporate profits helped motivate the summer rally. While the prospect of a global trade war did not ruffle Wall Street, investors in other regions shouldered more worry about the imposition of tariffs. Meanwhile, the Federal Reserve continued raising interest rates, the housing market cooled, and wage growth improved.

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Northeast Equity Research, NE Equity, Ken Nagy, Ken Nagy CFA, asset manager, Chartered Financial Analyst, Boston Security Analysts Society, Retirement Solutions, College Funding, Tax Planning, Insurance, Foundations, Cash Flow Solutions, asset management, asset growth, financial goals, 401K Rollover, IRA Rollover, Retirement Income Solutions, Asset Management, Portfolio, Investment, preserve and grow your assets, Foundation investing, money managers on the north shore, money managers, Peabody MA

The Fed Moves

Federal Reserve officials decided on another quarter-point interest rate hike. The September 26 decision took the federal funds rate to a target range of 2.00-2.25%. Notably, the latest Federal Open Market Committee statement removed the word “accommodative,” symbolically shutting the door on the easy money era. In the press conference after that news release, though, Fed chairman Jerome Powell referred to the new funds rate level as “accommodative.” This was the central bank’s third rate move of 2018, and one more is widely expected in December. The FOMC now projects 3.1% growth for the economy in 2019, as opposed to the prior forecast of 2.8%.

* Source This material was prepared by MarketingPro, Inc. To be included in our Weekly Economic Update fill out information on the Contact US page.

Northeast Equity Research, NE Equity, Ken Nagy, Ken Nagy CFA, asset manager, Chartered Financial Analyst, Boston Security Analysts Society, Retirement Solutions, College Funding, Tax Planning, Insurance, Foundations, Cash Flow Solutions, asset management, asset growth, financial goals, 401K Rollover, IRA Rollover, Retirement Income Solutions, Asset Management, Portfolio, Investment, preserve and grow your assets, Foundation investing, money managers on the north shore, money managers, Peabody MA

Third Quarter in the Books

The third quarter of 2018 is now history –Consumers were keenly optimistic this summer. The Conference Board’s monthly consumer confidence index shows excellent readings of 127.9, 134.7, and 138.4 for July, August, and September, respectively. Those numbers include revisions to the July and August readings. In September, the University of Michigan’s consumer sentiment index settled at 100.1, only the third time in the last 14 years it has topped 100.

* Source This material was prepared by MarketingPro, Inc. To be included in our Weekly Economic Update fill out information on the Contact US page.