2 Big Weeks of Corporate Earnings
73 S&P 500 companies have reported 3rd quarter earnings with 84% beating consensus expectations. This week we’ll hear from 125 S&P 500 companies, with 46 on Thursday. Amazon reports on Thursday which will give us an indication of how consumers are spending. The week following is actually the week the largest number of companies report, so the next 2 weeks will provide a lot of information to digest.
My guess is we’ll see the consumer is continuing to spend aggressively, perhaps not the increasing percentages we’ve been used to. As I’ve stated so many times before, just go out to dinner on Friday or Saturday nights. You’ll not see any hesitation of money being transferred from consumer’s wallets to businesses!!
Consumers Continue to Drive the Economy/Markets?
Can the Consumer continue to drive our current expansion longer than most people expect? I wish I knew the answer for certain as there are now many variables happening at the same time that can impact the result. If Brexit goes fairly smoothly, the trade situation doesn’t worsen and nothing unexpected comes out of the closet, I’m thinking yes, the consumer can continue to move this expansion further into record territory!
Interest rates are low around the world, most central banks are easing monetary policy, and consumers certainly enjoy consumption. This bodes well for at least the shorter time period until we get some other answers.
Markets Last Week
Markets were mostly higher last week with only the Dow Jones Index finishing down (.13%). The S&P 500 rose .55%, the NASDAQ .4% and the Russell 2000 led the way, rising 1.57%.
Over the pond the EAFE Index and the Emerging Market Stock Indexes both rose over 1%.
Bonds ended the week flat with the yield on the US 10 Year Treasury standing at 1.75%
Has the Market already priced in a rate cut at the upcoming Federal Reserve Meeting on October 30th?
Could not be a Prouder Dad!
On Saturday night I had the absolute pleasure to attend a charitable event hosted by my daughter, Vanessa. Vanessa has an extreme passion for working with the homeless and has dedicated much of her time and life to this incredible cause. When she gave her talk, everyone could feel her deep care and passion. Yes, I had to fight to hold the tears from being so proud! One of the things I respect most is when someone truly has a passion for what they do. When this happens, they truly make a difference in other people’s lives and Vanessa is living proof.
Vanessa shares this incredible charitable quality with her mom.
Vanessa had the pleasure to be interviewed by the Courier Post. The article of her charitable work and her event was published on the front page of last Saturday’s Courier Post. Here is a link to the article if you’d like read more on her efforts: Photos Show Lives, Tell Stories of of Homeless People in Camden and Philadelphia
The event was held at the Camden Fireworks. Vanessa helped raise over $2800 that will benefit 3 local charities that support the homeless. Attendees were able to view over 100 photos and stories of the homeless that reside in Camden. As I was reading many of their stories I could not help but to change my perspective and increase my level of compassion for the homeless.
It is an amazing feeling to watch and realize your kid has matured, is an adult, and is genuinely making a difference in the world! Way to Go Vanessa!!
Question of the Week…
Nursing Home Costs are something that all of us want to avoid. Based on the most recent data what is the average annual cost of a Nursing Home stay in New Jersey?
- No Cost to Stay
Answer to last week’s question…!
The United States has more Fitness Centers (Gyms) than any other country. The last reported data was for 2017. In 2017, how many Fitness Centers (Gyms) existed in the US?
The correct answer is #1 – 38,477. I certainly hope that the fitness expansion continues!