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May 15 , 2017
Statistic of the Week: 
Who are the individuals starting new businesses in the US? 37% of new companies have at least one owner that is an immigrant; and in the entrepreneur community, 27% are immigrants. In these new firms, 26% of employees are first generation immigrants.
Global Perspective: 
We have not talked about Greece in a while… While the nation is by no means out of its economic and fiscal troubles, it did have a primary budget surplus (excluding debt repayment) of 4.2% of GDP in 2016. It was the first instance of this happening in over 20 years. This data was confirmed by the European Commission.
Market Moving Events: 
Monday: PMI Manufacturing, ISM Manufacturing, Construction Spending Tuesday: Vehicle Sales Wednesday: PMI Service Index, ISM Non-Manufacturing Thursday: Jobless Claims, Factory Orders, Productivity Friday: Employment Situation
Commentary: 
The result of the French elections last weekend set a positive tone for the markets that followed through most of the week. The markets had an upward bias, with the S&P 500 moving up 1.53% and the DJIA rallying 1.91%.1 The S&P 500 is within striking distance of record highs – valuations it has not seen since early March. While the DJIA lost ground in March, it rebounded 1.3% in April, and the S&P 500 has logged six monthly gains in a row.2 With all of the strength in the equity markets, it comes as no surprise that the fixed income markets witnessed some selling pressure. The yield on the 10-year Treasury moved up to 2.29%.3 The world waited with anticipation for the tax package from the Trump administration and received a lot of rhetoric and very limited details. Markets, which were elated on a string of positive earnings figures, took little notice. We believe it will be difficult for any substantive details to be put to paper until there is further clarity on the future of healthcare reform. Also, the administration recently announced that we can expect to see an infrastructure plan in the next few weeks;4 we are hopeful that plan has more substance than the tax plan. US GDP (chart right) came in under analyst expectations for the first quarter,5 but there was a notable uptick in investment which should bode positive for future growth.6 This week there will be a continued focus on corporate earnings and performance of the service sectors. - 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

 Harvard Business Review

 

Global Perspective:

 The Economist

 

Market Moving Data:

Bloomberg.com

 

Chart of the Week:

Haver Analytics / Bureau of Economic Analysis

 

Commentary:

1.Bloomberg
2.John Hancock Asset Management
3.Bloomberg
4.CNBC
5.Goldman Sachs Asset Management
6.JP Morgan Asset Management
 
Contact Information: 

Phone: 609.671.9100

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Fax: 609.671.9199

 

www.VenturaWealth.com

 

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