Dow, Nasdaq, S&P 500 Advance
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BI-WEEKLY UPDATE - SEPTEMBER 9, 2019
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The Week on Wall Street
Stocks rose last week, with help from two developments: the announcement of further U.S.-China trade talks as well as August hiring and manufacturing numbers that seemed to bolster the argument for a rate cut by the Federal Reserve.
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Trade Talks Poised to Restart
Trade representatives from the U.S. and China are planning to head back to the negotiating table early next month. This news came Thursday from China's ministry of commerce, which confirmed a verbal agreement among Secretary of the Treasury Steven Mnuchin, U.S. Trade Representative Robert Lighthizer, and Chinese Vice Premier Liu He.
Formal trade discussions between the U.S. and China last happened in July. China has said that it wants punitive U.S. tariffs on its products removed in the event of a deal.
[4]
Weaker Hiring & Manufacturing Data
Payrolls expanded with just 130,000 net new jobs in August, according to the Department of Labor; 25,000 were temp jobs linked to the federal government's 2020 Census. The main jobless rate stayed at 3.7%. The U-6 rate, which measures both unemployment and underemployment, rose 0.2% to 7.2%.
A key gauge of U.S. factory activity, the Institute for Supply Management's manufacturing purchasing manager index, fell to 49.1 in August. A number below 50 indicates factory sector contraction. Some investors took these hiring and manufacturing reports as hints of a slowing economy, one which the Federal Reserve could potentially try to stimulate with an interest rate cut.
[5][6]
What's Ahead
August inflation data arrives this week, and if looks especially mild, it may amount to another suggestion that the Fed should ease. The European Central Bank concludes a meeting on Thursday, and Fed officials will certainly pay attention to its latest policy statement.
[7]
THE WEEK AHEAD: KEY ECONOMIC DATA
Thursday: A new Consumer Price Index, tracking both monthly and yearly inflation.
Friday: The August retail sales report from the Census Bureau.
Source: Econoday / MarketWatch Calendar, September 6, 2019
The Econoday and MarketWatch economic calendars list upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
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September 2: Office Closed
Our office, and the stock market, will be closed on Labor Day.
October 19: Client Event
This fall's semi-annual client breakfast seminar will focus on cyber security. More information to follow.
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Scott's Alaskan Adventure
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Last month, Scott traveled to Alaska for a camping and hiking trip. Below are some of the pictures from that adventure. However, he warns that these photos do little justice to the natural beauty of the Alaskan wilderness.
Please continue to share your travel stories and pictures with us. We are thoroughly enjoying learning about your adventures.
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Next edition, look for notes from Bob on his recent trip to the Telluride Film Festival and Monument Valley. You will not believe some of the celebrities he saw!
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"Education is the key to unlocking the world, a passport to freedom."
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Oprah Winfrey
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- 12 eggs
- Topping of choice, including bacon, cheddar, tomatoes, spinach, mozzarella, mushrooms, etc.
- Salt and pepper, to taste
Directions:
Whether you're sending the children or grandchildren out the door for school or are in need of a healthy, quick breakfast for yourself, these easy breakfast muffins will quickly become your secret weapon. Plus, you can cook them in the beginning of the week and store them for about four days in the fridge.
- Preheat the oven to 350° F and spray a 12-cup muffin tin with nonstick spray.
- Whisk the eggs and fill each muffin cup about halfway full.
- Add in your desired toppings.
- Bake for 20 minutes.
Recipe adapted from Cafe Delites[8]
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The Benefits of Brain Training
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We know how important it is to exercise our bodies, but exercising our brains is just as important. When we continue to learn, our brains are better for it. Here are just a few benefits of "brain training," or exercising your brain:
- Improved executive functions
- Improved working memory
- Improved processing speed
- Preserved cognitive health
- Fewer problems in daily function
- Better control over our mental processing abilities
There are lots of fun ways to exercise your brain. One common way is to continue to learn new things. Attend a pottery, painting, or foreign language class in your neighborhood, or check for any discounts on community college courses. Another great way to exercise your brain is to socialize with others, spend time in nature, and practice mind puzzles, such as crosswords, Sudoku, or a game in a brain training app.
Tip adapted from American Psychological Association[11]
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Share the Wealth of Knowledge!
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[4] www.cbsnews.com/news/u-s-china-trade-talks-scheduled-for-october-beijing-says-2019-09-05/
[5] www.bloomberg.com/news/articles/2019-09-06/u-s-payrolls-rise-130-000-boosted-by-25-000-for-census-count
[6] tradingeconomics.com/united-states/business-confidence
[7] www.cnbc.com/2019/09/06/stocks-look-to-reclaim-their-all-time-highs-in-the-week-ahead.html
[8] cafedelites.com/breakfast-egg-muffins-3-ways/
[11] www.apa.org/monitor/2014/10/mind-games
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