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Here at Chadmere Capital Inurance and Financial Services, we are adhering to state and local guidelines in order to protect both the health and safety of clients and staff. Keeping our clients and staff safe is our highest priority and we’re taking all appropriate measures to ensure a safe environment. Should you prefer to not meet face-to-face, we are continuing to serve our clients through virtual settings such as Zoom or phone calls.

We look forward to continuing to help individuals and families achieve their ideal retirements.

Chademere Capital Insurance and Financial Services
(803) 242-1050


Weekly Market Commentary

Market Recap week ending 9/6/2019

-Darren Leavitt, CFA

Last week, the markets had their second consecutive weekly advance.  More constructive headlines on trade negotiations between the US and China helped market sentiment.  During the week China announced that trade negotiations would resume in Washington in early October.  Additionally, Hong Kong officials announced that they would no longer pursue the controversial extradition law- this was viewed as a positive by investors as it likely takes one of the potential obstacles off the negotiation table.  Another geopolitical event that influenced markets last week was the move by the UK Parliament to block a no-deal Brexit.  The move put a strong bid into Sterling and also strengthened the Euro relative to the US Dollar.

The S&P 500 trade 1.85% higher on the week while the Dow increased 1.65%, the NASDAQ added 1.63%, and the Russell 2000 gained 0.69%.

Treasuries had a volatile week induced by a mixed bag of economic reports.  Early in the week, ISM manufacturing data came in below expectations at 49.1% versus consensus of 51.3%.  A reading under 50 signals contraction and adds to the concern on global growth.  The Fed Beige Book released on Wednesday indicated that economic activity from all of the districts showed expansion at a modest pace.  ADP employment figures were announced on Thursday and came in at a robust 195k versus the consensus estimate of 150k.  Additionally, ISM Non- Manufacturing came in at 56.4% above the 54% consensus estimate.  The better than expected number showed a nice increase within new orders.  Finally, Friday’s Employment Situation Report was mixed.  Nonfarm Payrolls came in at 130k versus expectations of 171k and Nonfarm Private Payrolls data also missed the mark coming in at 96k versus consensus estimates of 145k.  The unemployment rate held steady at 3.7%, and wages increased 3.2%.   For the week the 2-year yield gained two basis points to close at 1.52%, and the 10-year bond yield added four basis points to close at 1.55%.

Oil had a positive week closing higher by 2.5% at $56.45 a barrel.  Gold lost $14 to close at $1515 an Oz.  There were no changes to our models last week.

The information in this Market Commentary is for general informational and educational purposes only. Unless otherwise stated, all information and opinion contained in these materials were produced by Foundations Investment Advisers, LLC (“FIA”) and other publicly available sources believed to be accurate and reliable.  No representations are made by FIA or its affiliates as to the informational accuracy or completeness.  All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation. No party, including but not limited to, FIA and its affiliates, assumes liability for any loss or damage resulting from errors or omissions or reliance on or use of this material.

The views and opinions expressed are those of the authors do not necessarily reflect the official policy or position of FIA or its affiliates.  Information presented is believed to be current, but may change at any time and without notice.  It should not be viewed as personalized investment advice. All expressions of opinion reflect the judgment of the authors on the date of publication and may change in response to market conditions. Due to rapidly changing market conditions and the complexity of investment decisions, supplemental information and other sources may be required to make informed investment decisions based on your individual investment objectives and suitability specifications. You should consult with a professional advisor before implementing any strategies discussed. Content should not be viewed as an offer to buy or sell any of the securities mentioned or as legal or tax advice. You should always consult an attorney or tax professional regarding your specific legal or tax situation. Investment advisory services are offered through Foundations Investment Advisors, LLC, an SEC registered investment adviser.

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