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October 16 , 2017
Statistic of the Week: 
The National Retail Federation projects holiday season spending growth of 3.7%, yet it no longer focuses on spending on Black Friday as a barometer with American consumers now shopping for the holidays over a longer period and taking advantage of both retail locations and online promotions.
Global Perspective: 
World leaders are meeting this week in Paris to discuss climate change at the COP21. The goal of the conference is to get 150 countries to agree on legally binding reductions of greenhouse gases in an attempt to hold average global temperatures to less than 2 degrees Celsius above pre-industrial averages.
Market Moving Events: 
Monday: Chicago PMI, Pending Home Sales, Dallas Fed Manufacturing Tuesday: Vehicle Sales, PMI Manufacturing, ISM Manufacturing, Construction Spending Wednesday: ADP Employment Thursday: Jobless Claims, Factory Orders Friday: Employment Situation, International Trade
Commentary: 
With expectations rising as the holiday shopping season sets in, investment markets were relatively calm last week. Equities were mostly flat, with the S&P 500 closing up 0.08% and the DJIA down -0.10%.1 Year-to-date performance figures for the two major American indices show minor gains.2 In fixed income, the yield on the 10-year Treasury fell slightly, finishing the week yielding 2.22%.3 The most notable market action came in the form of a sharp selloff in the Shanghai composite – falling 5.3%4 on news that Chinese central government regulators were evaluating numerous securities firms.5 A selloff in China precipitated the volatility American and European markets experienced over the summer; so far, global markets have shrugged off what appears to be internal regulatory issues in the world’s second largest economy. Absent any major geopolitical events, it is likely that the remainder of the year will focus on holiday spending and corporate growth projections for 2016. The fundamentals for a relatively healthy US consumer are still in place. Personal income picked up 0.4% in October6 and the personal savings rate has improved.7 Oil prices seem to have stabilized, with West Texas Intermediate contracts trading around $41.70 a barrel.8 A healthy domestic consumer should help fortify the US economy, as consumption makes up about 70% of total GDP. Historically, we are entering a seasonally strong period for the markets - we will see if the markets are feeling merry and bright through the end of 2015.
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 New York Times

Global Perspective:

The Economist

Market Moving Data:

Bloomberg.com, Stratfor.com

Chart of the Week:

Haver Analytics / Bureau of Economic Analysis

 

Commentary:

1.Bloomberg
2.Bloomberg
3.Bloomberg
4.Bloomberg
5.Business Insider
6.Bureau of Economic Analysis
7.Bureau of Economic Analysis
8.Goldman Sachs Asset Management

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