Bellevue Perspectives

Monday Minute

  • The People’s Republic of China celebrated its 70th anniversary last week, just as the protests in Hong Kong escalate.  This summer, China’s economic growth slowed to an almost 30 year low thanks to the trade war, swine flu epidemic, and unrest in Hong Kong.
  • Tuesday of last week the Institute of Supply Management (ISM) reported the purchasing managers’ index (PMI) for September fell below the contraction level for the second straight month.  The reading of 47.8 last month was the lowest level since June of 2009, but still a ways off of recessionary levels.  The manufacturing sector represents roughly 11% of the U.S. Economy.  Markets sold off, but rebounded Friday as unemployment fell to a 50 year low of 3.5%.
  • Charles Schwab announced last week that it is cutting its trading commissions to zero on all ETF, stock, and option trades.  I’m sure Schwab didn’t specifically have HighTower Bellevue clients in mind when the decision was made, but we’ll take it!

HighTower Bellevue is registered with Hightower Securities, LLC, member FINRA and SIPC, and with Hightower Advisors, LLC, a registered investment advisor with the SEC. Securities are offered through Hightower Securities, LLC; advisory services are offered through Hightower Advisors, LLC.

This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.

All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and Hightower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.

This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of Hightower Advisors, LLC, or any of its affiliates.