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March 20 , 2017
Statistic of the Week: 
WTI crude oil prices closed on Friday at $53.54 per barrel. With three weeks of price increases, industry analysts note that gains in US output are being matched by cuts in Russian supply. Russia is the largest non-OPEC member to coordinate cuts with OPEC to help increase the price of the commodity.
Global Perspective: 
France’s Marine Le Pen laid out her plans should she become president of France in the May election. A “return to monetary sovereignty,” (read: no euro) is a key piece of her platform. Other components of her platform include revoking central bank independence and printing money to finance industry, welfare, and repay debt. Pollsters are saying her victory is unlikely.
Market Moving Events: 
Monday: Pending Home Sales Tuesday: International Trade, Consumer Credit Wednesday: Petroleum Status Report Thursday: Jobless Claims, Wholesale Trade Friday: Import Export Prices, Consumer Sentiment
Commentary: 
Markets were relatively flat on the week as the DJIA fell 0.09% while the S&P 500 ticked up 0.16%.1 Even though it ended the week in the black, the S&P 500 suffered a four day losing streak, which was the longest consecutive slump since November.2 The Dow, now about 20,000, was able to hold onto the threshold, which some investors are starting to deem “important.”3 As January was the third consecutive positive month for the major domestic indices,4 it should be noted growth in these barometers seems to be slowing. The NASDAQ, which had felt some post-election pressure continues to show strong relative performance, rallying 4.3% for the month.5 (In comparison, the DJIA rose only 0.5% in January).6 The Trump administration signaled that it favored a weaker dollar last week, which caused the US Dollar index to weaken slightly.7 Since the election, the dollar had risen around 6%. The Federal Reserve made no changes to policy from their meeting last Wednesday, which was in line with market expectations. Job growth (chart right) continues to be strong, and was above analyst expectations for the month of January. Wage growth, however, appears to be slowing.8 The week ahead is relatively light on economic data. Earnings season is starting to wrap up, and investors will likely increase scrutiny of the progress of the administration’s “100 Day” strategy. - 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:

Goldman Sachs Asset Management

 

Global Perspective:

Bloomberg.com

 

Market Moving Data:

Bloomberg.com

 

Chart of the Week:

Haver Analytics / Bureau of Labor Statistics

Commentary:

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