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October 16 , 2017
Statistic of the Week: 
On the whole, household income is on the rise in the US. In 2016, median household income grew for the second year in a row, up to $59,039. The poverty rate dipped to 12.7%; however, over the past decade the poorest 20% of Americans have actually seen their income decline by an average $430.
Global Perspective: 
Any reader of this publication is well aware that autonomous vehicles are on their way to roads across the globe. The Trump administration released its guidance for driverless vehicles titled “Vision for Safety 2.0.” The publication touts the benefits of “driverless technology” and argues for as little regulation as possible in the space.
Market Moving Events: 
Monday: Housing Market Index Tuesday: Housing Starts Wednesday: Existing Home Sales, FOMC Meeting Minutes, FOMC Forecasts Thursday: Jobless Claims, Philly Fed Outlook, Leading Indicators Friday: Purchasing Managers Index Composite
Commentary: 
Last week was strong in the equity markets, as both the DJIA and S&P 500 logged some of their best performance on a weekly basis in the past year.1 The DJIA rose 2.19% and the S&P increased 1.63%.2 The NASDAQ which has been this year’s performance leader, was the laggard, up only 1.41%.3 International markets marched higher as well, but not with the same pep. The MSCI EAFE rallied 0.56%, while emerging markets were up just over 1%.4 The rally in equities did have an impact on the fixed income markets. The 10-year Treasury yield backed up to close on Friday with a yield of 2.20%, from 2.06% the week before.5 The economic news cycle is picking up this week, with most of the attention fixed on Wednesday’s Federal Reserve decision. The Federal Funds rate is expected to remain steady between 1% and 1.25%.6 Policy makers are not expected to make any other changes at this meeting, however the statement will be parsed to glint more insight into the Fed’s thought process around the concept of shrinking its balance sheet. With inflation inching up to a 1.9% annualized rate7 (right around the Fed’s target of 2%), it is likely that they will have the economic data as cover to implement policy as they see fit. As earnings season is predominantly behind us, and the US political scene has quieted, we believe that volatility has the potential to remain low as long as we don’t encounter any negative surprises. - 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 Economist

Global Perspective:

 The Economist

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. Barron’s
7. Barron’s
 
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