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June 19 , 2017
Statistic of the Week: 
76% of Millennials are getting their financial advice online, and 53% of this age group think of their future daily (beating out 40% of Baby Boomers). 26% of the Millennials expect to retire at 64, with 34% saying they’d like to retire earlier. However, only 55% have begun saving for retirement…
Global Perspective: 
The first light-rail system in sub-Saharan Africa opened in Ethiopia’s capital, Addis Ababa. Both financing, and the expertise to build the project, were provided by the Chinese.
Market Moving Events: 
Monday: Personal Income and Outlays, Pending Home Sales, Dallas Fed Manufacturing Index Tuesday: Case-Shiller HPI, Consumer Confidence Wednesday: Chicago PMI Thursday: Jobless Claims, ISM Manufacturing Friday: Employment Situation, Factory Orders
Commentary: 
Despite the Federal Reserve being on “hold” by delaying the inevitable rise in interest rates, equity markets remain volatile with a downward bias. With Janet Yellen and many of her colleagues indicating that the Fed may still raise rates by the end of the year,1 market action is swayed by a level of pervasive uncertainty. Fed governors such as William Dudley maintain that the US economy is strong enough for a rate hike,2 yet other governors and international financial institutions like the IMF and World Bank are concerned about the impact of US policy changes on global financial markets. The Federal Reserve’s next meeting is slated for the end of October. There have been not-so-subtle hints that a change in policy may occur as a result of that meeting.3 Equity markets are going through the process of digesting central bank action and a marked slowdown in China (moreover, the global ramifications of the world’s second largest economy slowing). Still, the fundamentals of the American economy appears to be relatively healthy. It is important at times like these, when we are experiencing higher than normal volatility, to recall that the stock market and economy do not a move in lockstep. Home prices, personal income, and personal consumption all point to a consumer in the US willing to spend. But, just because equity corrections exceeding 15% absent a formal economic recession are rare, does not negate the need for investors to be prudent in the weeks ahead. - 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
Contact Information: 

Commentary:

1. The Wall Street Journal
2. The Wall Street Journal
3.CNBC
 
 

Statistic of the Week:

The Journal of Financial Planning

Global Perspective:

The Economist

Market Moving Data:

Bloomberg.com, Stratfor.com

 

Chart of the Week:

Haver Analytics / Bureau of Economic Analysis

 

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