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October 16 , 2017
Statistic of the Week: 
Hurricane Harvey is devastating the Texas coast, with both human and economic tolls. Some areas of the states are expected to see 50” of rain. Texas is the second largest economy in the United States. When viewed as a stand-alone, it is the world’s 10th largest economy.
Global Perspective: 
After a well-publicized meeting of the European Central Bank, the euro has put in strong gains. It has rallied hard against the dollar, and placed an eight-year high against the pound. There is some residual concern that the currency’s appreciation could harm the business outlook for the euro zone.
Market Moving Events: 
Monday: International Trade Tuesday: Case Shiller Home Price Index, Consumer Confidence Wednesday: GDP Thursday: Jobless Claims, Personal Income and Outlays, Pending Home Sales Friday: Employment Situation, ISM Manufacturing Index, Consumer Sentiment
Commentary: 
With relatively few political distractions last week, the equity markets were able to rally without interference – posting their first positive weekly move in three. All three major US equity indices were up 0.71% to 0.80%.1 The DJIA was the weakest of the three, while the NASDAQ put in the most significant gain.2 And while equity markets were trending higher both in the US and abroad, fixed income also rallied. The yield on the 10-year Treasury dipped to 2.17%.3 Whereas it is nice to see the US equity markets performing well this year, the real story has been the synchronized expansion that the globe has been demonstrating. Arguably, since the recession, the US has been the economic and market leader, pulling the rest of the world along with its less-than-robust-but-we-will-take-it-over-no-growth growth. Several indicators are highlighting the trend that most of the world is currently growing together. Favorable monetary policy, strong labor markets, and good business and consumer sentiment, are all contributing.4 Each of the 45 countries that the OECD monitors are showing expansion in 2017, and 33 are posting a higher growth rate than they experienced last year.5 In the week ahead, we will gain critical insights into the consumer psyche, with both Consumer Sentiment and Confidence numbers being reported. While there was less political theater last week, it will be curious to see if the past month’s drama is beginning to weigh on sentiment figures. - 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:

Bloomberg.com, CNBC

Global Perspective:

 The Economist

Market Moving Data:

Bloomberg.com

Chart of the Week:

Haver Analytics / National Association of Realtors

Commentary:

1.Bloomberg
2.Bloomberg
3.Bloomberg
4.Goldman Sachs Asset Management
5.JP Morgan Asset Management
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