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October 16 , 2017
Statistic of the Week: 
There’s little question that the North Korean economy is in shambles. Despite growing at 3.7% in 2016, it is valued at $28.5 billion. South Korea’s economy comes in at $1.34 trillion by comparison. Per capita income is a meager $1,180, 1/22nd the amount of neighboring South Korea.
Global Perspective: 
This week we will see the twice-a-decade reorganization of the communist party in China. The 19th Party Congress will select 200 people to form the Central Committee to run the country for the next 5-year term. From those 200, a Standing Committee of 7-9 people will be selected to approve all major decisions on a weekly basis.
Market Moving Events: 
Monday: Treasury Budget Tuesday: Import Export Prices, Industrial Production, Housing Market Index Wednesday: Beige Book, Housing Starts Thursday: Jobless Claims, Leading Indicators, Philly Fed Business Outlook Friday: Existing Home Sales
Commentary: 
Domestic equity indices once again found themselves in record territory last week, with the DJIA rising 0.43% and the S&P 500 increasing 0.15%.1 The NASDAQ rallied as well, increasing 0.24%.2 International markets put in stronger gains, with developed markets up 1.63%3 and emerging markets rallying 2.08%.4 Despite the strength in the equity markets, yields fell in the US Treasury market. The 10-year Treasury closed Friday with a yield of 2.28%.5 Retail sales (chart right) seem to be picking up at the onset of the holiday shopping season. Up 4.1% year over year, September’s gain was the largest single month increase since March of 2015.6 Consumer Sentiment, which had fallen slightly in September, bounced back in October to a 13-year high.7 Married together, these figures point to a healthy domestic consumer that appears un-phased by any geopolitical or domestic policy wrangling. This week, there are a series of key economic releases that have the ability to move markets. Jobless claims, coupled with both housing figures, should provide insight into the durability of strong consumer confidence numbers. Additionally, there are several key earnings releases just ahead that investors will be watching carefully. With equities across the globe logging strong gains so far this year, it will be critical for earnings to keep pace to quell concerns over a speculative “bubble.” - Dan McElwee, CFP®
Chart of the Week: 
About Ventura Wealth Management: 
Ventura Wealth Management is an independent Registered Investment Advisor (RIA). Unparalleled service, objective advice, and comprehensive planning act as the central pillars of our client experience. We are dedicated to building long-term client relationships through diligent management, custom portfolios, client education, and ongoing financial review
Sources: 

Statistic of the Week:

The Kiplinger Letter

Global Perspective:

 Bloomberg Businessweek

Market Moving Data:

Bloomberg.com

Chart of the Week:

Haver Analytics / Census Bureau

Commentary:

1.Bloomberg
2.Bloomberg
3.Bloomberg
4.Bloomberg
5.Bloomberg
6.Goldman Sachs Asset Management
7.Goldman Sachs Asset Management
 
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