- The Federal Reserve cut rates another .25% last Wednesday as most of the market expected. Because they signaled a pause in the easing cycle, the markets had a muted response initially, but later rallied after the press conference. https://www.reuters.com/article/us-usa-fed/u-s-fed-cuts-rates-but-signals-pause-in-easing-cycle-idUSKBN1X90D7
- End of the week stocks rallied on another strong jobs report, adding 128,000 jobs in October. With the consumer being a primary driver of the economy, strong employment may lead to continued expansion. Strong Q3 earnings reports are also assisting the move in the equities market. According to FactSet, about 70% of S&P 500 companies posted quarterly results so far and of those reports, 75% have beaten expectations. Companies set a low bar this quarter, but it’s never a bad thing when the numbers are better-than-feared. https://www.bloomberg.com/news/articles/2019-10-31/stocks-in-asia-to-drop-on-trade-war-economic-data-markets-wrap?srnd=premium
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.