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February 12 , 2018
Statistic of the Week: 
Life expectancy is looking up, and impacting Social Security. When Social Security was first introduced in 1930, the average life expectancy for a man was 58. For women, that figure was 62. For the average woman turning 65 today, she can expect to live until 86.6 on average. For men turning 65, their average expectancy is 84.3.
Global Perspective: 
The International Monetary Fund surprised analysts with very positive comments about the global economy last week. The report mentioned “notable upside surprises” in both Asia and Europe that have contributed to “the broadest synchronized global growth upsurge since 2010.” 2018 and 2019 growth forecasts were both revised higher to 3.9%.
Market Moving Events: 
Monday: Personal Income and Outlays Tuesday: Consumer Confidence, State of the Union Address Wednesday: ADP Employment Report Thursday: Jobless Claims, Productivity and Cost, ISM Manufacturing Index Friday: Consumer Sentiment, Factory Orders
Commentary: 
The DJIA, S&P 500, and Nasdaq Composite all closed the week at record highs. All three indices notched gains in excess of 2% on the week.1 The Nasdaq was the leader at 2.31%2 and the Dow brought up the rear at 2.09%.3 The S&P 500 had its best day of performance on Friday since March of 2017,4 and closed the week up 2.23%.5 The S&P has risen just under 7.5% so far in 2018,6 which has had a grand total of 18 trading days… The strength in equities has been reflected in fixed income prices. The yields on 10-year Treasuries is now over 2.7% - levels we have not seen since 2014.7 Strong corporate earnings have been the story of the quarter so far, and the trend is expected to continue this week with 120 companies in the S&P reporting.8 Treasury Secretary Mnuchin caused a stir at the World Economic Forum in Davos last week, as he underscored that a weak dollar benefits corporate earnings.9 As the US chides other nations for currency manipulation, President Trump was quick to state that he believed Mnuchin was misinterpreted.10 (We don’t think so). The President will give his first State of the Union Address tomorrow – we believe the economy to be a central theme. A $1.7 trillion infrastructure plan is forecast to be announced.11 Lastly, Wednesday will be Janet Yellen’s final meeting as Fed Chair.12 The Federal Reserve is not expected to make any changes to policy. There is no question that GDP (chart right) will be a topic of conversation. .- 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:

Journal of Financial Planning

Global Perspective:

The Economist

Market Moving Data:

Bloomberg.com

Chart of the Week:

Clearnomics / Haver / Bureau of Economic Analysis

Commentary:

1.Bloomberg
2.Bloomberg
3.Bloomberg
4.CNBC
5.Bloomberg
6.Bloomberg
7.Bloomberg
8.CNBC
9. Barron’s
10.Newsweek.com
11. Barron’s
12. Barron’s
 
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