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October 16 , 2017
Statistic of the Week: 
Short covering in the oil markets was credited with pushing the commodity 10% higher on Thursday, the biggest single-day percentage rise since 2009. Crude finished the week 12% higher, closing at $45.27.
Global Perspective: 
China’s “Black Monday” (August 24th), ended with the Shanghai equity markets falling 8.5%. The drop, while significant, was not as statistically rare as the much smaller declines seen the same day in the London, Tokyo, and New York exchanges.
Market Moving Events: 
Tuesday: Vehicle Sales, ISM Manufacturing Index, Construction Spending Wednesday: Petroleum Status Report, Factory Orders, Beige Book Thursday: Jobless Claims, International Trade, ISM Non-Manufacturing Index Friday: Employment Situation
Commentary: 
Turbulence took hold of the markets last week, as multiple asset classes saw significant price fluctuations. Equities, fixed income, and commodity markets all see-sawed as investors digested multiple data points and changes in sentiment. At its low on Tuesday, the S&P 500 was off more than 12% from the peak it set in May – the first drop the index experienced of 10% or more since 2011.1 Rallying hard for the rest of the week, the S&P closed up 0.95% on the week.2 Year to date, the S&P 500 has lost 2.07%, while the DJIA has contracted over 5%.3 Volatility was not contained in the equity markets. The 10-year Treasury dipped below 2% on Monday, but finished the week yielding 2.18%.4 Anyone trying to time the market in such choppy conditions faced an uphill battle. The dip we are experiencing in the S&P 500 is one of eight occurrences that have exceeded 5% since the market bottomed in March of 2009.5 During these periods, the market took an average of 28 days to bottom and 30 days to recover.6 The rally we were experiencing before the onset of the correction was the third longest in the past fifty years.7 Of the past 35 years, 19 have contained intra-year declines of 10% - with only two years printing an ending performance figure worse than -5%.8 Few of the factors that have contributed to the decline have been resolved; volatility is likely to persist. But, we are far from a situation where panic is warranted. - 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: 
1.Bloomberg
2.Bloomberg
3.Bloomberg
4.Bloomberg
5.Goldman Sachs Asset Management
6.Goldman Sachs Asset Management
7.JP Morgan Asset Management
8.JP Morgan Asset Management

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