Month: August 2019

We have lowered our projections for U.S. gross domestic product (GDP), the 10-year U.S. Treasury yield, and operating earnings for the S&P 500 Index in 2019, as we noted in the August 19 Weekly Market Commentary: Tweaking Forecasts, and introduced our preliminary 2020 forecasts.

We have maintained our S&P 500 Index year-end fair value target of 3,000 despite our lowered economic and earnings growth forecasts amid trade uncertainty.

Recession fears from the yield curve inversion offset the boost from the tariff delay.

Stocks endured significant volatility last week but showed some resilience Wednesday, August 7.

Investors endured another volatile five-day stretch as the combination of trade uncertainty, plunging global bond yields, and conflicting messages between the United States and global economies further pressured stock prices.

Gross domestic product (GDP) increased 2.1% in the second quarter, bolstered by consumer spending’s 2.9% contribution to growth.

Last week’s stock market slide begs the question whether this August will fit its historical pattern of seasonal weakness.

The Fed cut interest rates for the first time in 10 years

The Fed cut interest rates even though the economy is still growing, albeit slowly.