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Labor Day Festivities
Labor Day weekend is here which means pumpkin spice lattes are just around the corner. But before temperatures start to drop and leaves change their color, we hope you're able to get outside to celebrate this unofficial end of summer weekend.
And here's to a better travel experience than the one portrayed by cartoonist Dave Granlund!
Happy Labor Day from your friends at New Market Wealth Management!
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Though last week's trading volumes were light, the major equity indexes posted gains by week's end. With second quarter earnings reports largely complete, politics continue to drive investor sentiment. Markets were up Tuesday after reports emerged that the White House and Congress were making progress on tax reform, but they fell Wednesday after President Trump threatened to shut down the government if there was no border wall funding.
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> Crude Oil:
The Energy Information Administration (EIA) provides weekly data on petroleum inventories in the US, whether produced here or abroad. Prices fluctuate depending on supply and demand conditions in the world. Since oil is such an important part of the economy, it can also help determine the direction of inflation.
Last week's report supports the slightly improved supply/demand balance of the oil market. Long-term oversupply concerns ---- raised by increased domestic production, growing rig counts and stagnant demand ---- have been dampened by a lengthy series of sizeable weekly inventory drawdowns and, most recently, the first rig count decline in a long time. Crude oil futures rose about 30 cents to around $48.05 per barrel immediately following the release of the EIA report.
> The Federal Reserve:
Speaking to the Jackson Hole conference
last Friday, Janet Yellen did not address monetary policy or current economic conditions. Instead, the Fed Chair used her high-profile podium to give a robust defense of the regulations put in place under the Obama administration in the aftermath of the financial crisis. She remarked that regulation has made the financial system more resilient to shocks and she warned that regulators have to be alert to new booms and busts.
Her position stands in stark contrast to President Donald Trump and Congressional Republicans who believe that the regulatory burden is strangling lending and has hamstrung the economy. Because of that discrepancy, many Fed watchers believe Janet Yellen's time as Fed Chair will come to an end in February when her first term is over.
> T+2:
The settlement period for securities traded on the secondary market in the United States is currently trade date plus three business days, commonly referred to as T+3. After 5 years of planning, the financial services industry will shorten the settlement cycle to trade date plus two business days (T+2) on September 5, 2017. The move will affect equities, corporate bonds, municipal bonds, unit investment trusts, and financial instruments comprised of these security types.
Shortening the time it takes to settle trades from the current three-day cycle, is expected to provide significant benefits to investors and market participants. A shorter settlement time frame will reduce credit, market and liquidity risks, promote financial stability, and align the US with other T+2 settlement markets across the globe.
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STRATEGIC  DISCUSSIONS LUNCHEON, SEPTEMBER 26
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In our ongoing effort to bring you prominent thought leaders sharing insights on topics affecting the capital markets, we continue our
Strategic Discussions series this fall with:
Seeking Cover:
Current Geopolitical Events
and their Potential Impact on Elevated Market Valuations
Our featured speaker is James Hickey, US Army Colonel, Retired, a Senior Military Advisor to the Senate Armed Services Committee and Leader of Operation Red Dawn, the US military effort that captured Saddam Hussein near Tikrit, Iraq in 2003.
Mr. Hickey has a deep understanding of the international landscape, and extensive knowledge of current political and global security issues. His "boots on the ground" experience will offer real insights into the opportunities and pitfalls we face as a nation, and a methodology for evaluating global events.
Tuesday, September 26, 2017 from 12:00-1:30 pm in Costa Mesa, California.
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New Market Wealth Management offers modern investment solutions backed by extensive research and experience serving the needs of wealthy families. Through our strategic partnership with
Cliffwater LLC
, we provide institutional-quality research, investment due diligence and asset allocation tools. We believe this level of experience and unique access to in-depth, sophisticated research are essential for success in today's complex world markets.
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