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December 4 , 2017
Statistic of the Week: 
The SEC approved the implementation of a new rule as part of the Dodd-Frank regulations. The rule requires publicly traded companies to release executive compensation as compared to median employee pay. 5% of foreign staff may be excluded from the calculation.
Global Perspective: 
The British government sold a 5.4% position in the Royal Bank of Scotland. The government, which is still the majority shareholder, had a loss on the transaction. This was the British government’s first sale of shares since it made the emergency purchase in 2008.
Market Moving Events: 
Tuesday: Productivity and Costs Wednesday: JOLTS, Treasury Budget Thursday: Jobless Claims, Retail Sales, Import Export Prices, Business Inventories Friday: Producer Price Index, Industrial Production, Consumer Sentiment
Commentary: 
As the DJIA fell for six days in a row (the longest consecutive down-streak since August 2011),1 its performance weighed on the investor psyche. The Dow’s 1.74% drop last week pushed the index firmly into the red for 2015.2 The S&P 500 faired somewhat better, closing the week down 1.18%, and still has (meager) positive performance on the year.3 With volatility in the equity markets remaining elevated, fixed income markets responded with rising prices and falling yields. The 10-year Treasury closed the week yielding 2.18%.4 Friday’s employment figure, a steady gain of 215,000 jobs for July,5 had investors concerned that a rate hike from the Federal Reserve may occur at the September meeting. The unemployment rate remained unchanged at 5.3%, and wages rose 2.1% year-over-year.6 If the current rate of job growth continues, the unemployment rate will likely drop below 5% in late 2015 or the first months of 2016.7 The lack of positive momentum in 2015 in the investment markets reflects the “good news is bad news and bad news is bad news” mindset that investors have adopted. Earnings have been lackluster, commodities are in a serious slump, and market swings are marked. On the flip side, the domestic consumer shows spending strength and developed economies appear on track for growth. The tug-of-war is likely to continue through the summer doldrums. - 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.CNBC
2.Bloomberg
3.Bloomberg
4.Bloomberg
5.Bureau of Labor Statistics
6.Bureau of Labor Statistics
7. The New York Times

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