November 22 The release of the
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Federal Reserve’s most recent meeting minutes. Its statements will be
This was only the second time since the Great Depression that it had lowered its dividend, and the move brought into question the credibility of the new management team. GE is one of the country’s most widely held stocks, and the only remaining charter member of the Dow Jones Industrial Average. In light of the asset sales and dividend cut, questions are mounting as to whether it will remain in the Dow. In Summary... The major U.S. stock indexes all reached all- time highs in October. Unemployment is at 4.2% – a 16-year low – and median income levels continued to grow. Earnings as led by the “FAANG stocks” (Facebook, Amazon, Apple, Netflix, and Alphabet/Google) were stellar, and tax reform proposals were met with optimism. Home sales and retail transactions were at a two-year high, and consumer confidence jumped to its highest mark since 2000. The global reflation trade remained vibrant. Leadership from financials, technology, and industrials never wavered. Our resilience after the devastating storms was a testament to the vitality of the American spirit, as many of the affected towns restocked their stores and rebuilt their infrastructure.
scanned very carefully for any clues on its interes-rate plans going forward. November 23-24 Markit global preliminary Purchasing Managers Index data for November. This will signal the health of the global economic-growth picture. November 27 – December 8 The Senate is expected to vote on its version of the tax bill. December 8 China releases its trade data. China is viewed as the world’s growth engine, as many of the goods sold around the globe are produced within its borders. The export data in particular are considered a sign of global economic health. December 13 Fed policy decision announcement. The markets will be expecting another 25-basis-point increase to the federal funds rate. December 14 ECB policy decision announcement. The markets will be looking for an update on the growth picture.
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