fbpx

Weekly Economic Update: July 31, 2017

Weekly Economic Update
July 31, 2017
The Markets (as of market close July 28, 2017)
 
Stock indexes were mixed, despite a rise in energy stocks following Saudi Arabia’s promise to cut back oil production. Technology shares fell, which hampered both the Nasdaq and S&P 500. Quarterly earnings reports from large U.S. companies contributed to the Dow’s gains last week. While the Federal Reserve held interest rates at their current levels, it did reveal its intention to reduce its holdings of mortgage-backed securities and Treasuries relatively soon, which could push long-term interest rates higher.
Last Week’s Economic Headlines
  • Slowing inflation was the primary reason the Federal Open Market Committee decided to keep the target range for the federal funds rate at its current 1.00%-1.25% range following last week’s meeting.
  • The initial (advance) estimate of the gross domestic product showed the second-quarter economy grew at a healthy annual rate of 2.6%.
  • Good news for domestic manufacturers as new orders for long-lasting goods increased in June.
  • Following a surge in May, sales of existing homes fell in June but above a year ago.
  • Sales of new single-family homes were only marginally better in June than existing home sales.
  • The trade deficit decreased in June.
  • The Conference Board Consumer Confidence Index® rose in July because consumers expressed growing optimism in the present state of the economy and the short-term outlook.
  • In the week ended July 22, the advance figure for seasonally adjusted initial claims for unemployment increased from the previous week’s revised level.
BWFA Eye on the Week Ahead
Two important economic reports are out this week: personal income and outlays, and the employment situation. The FOMC relies on the price index of the personal income and outlays report as an indicator of inflationary trends. On the employment front, June’s report was mixed – as new hires increased, while wage growth was marginal at best. July’s employment report is not expected to change much.
Making the Most of Medicare
Tuesday, August 1, 2017
11:45 AM – 1:00 PM
Lunch will be provided
 


Only 8 Seats Available!

Presented by:
Townsend Hornor, Jr.
Managing Director,
Wealth Management
Thad Ismart,   

CFP®

  
Senior Financial Planner

Baltimore-Washington Financial Advisors invites you to an informative discussion on the relevant details of Medicare.
Topics to include:
  • How to enroll
  • What are the costs?
  • How to choose the right plan
  • Where to find additional resources
  • How to “shop smart” for Medicare
Come join us as we discuss these issues and more!
Corporate Trust Services
Thursday, August 3, 2017
11:45 AM – 1:00 PM
Lunch will be provided
 


A great follow up to the Alzheimer’s vs. Dementia Seminar!!!

Only 10 Seats Available!

Presented by:
Townsend Hornor, Jr.
Managing Director,
Wealth Management
Steve Elville, Esq.
Principal
Elville and Associates
Baltimore-Washington Financial Advisors and Elville and Associates invite you to an interactive workshop on Corporate Trust Services.
Topics to include:
  • What is a personal trust?
  • What are some reasons to consider appointing a corporate trustee?
  • Why should you be concerned about “successor trustee risk?”
Come join us as we discuss these issues and more!
What You Need to Know About Retirement –  

Before You Retire
 
Tuesday, August 15, 2017
11:45 AM – 1:00 PM
Lunch will be provided
**SOLD OUT**
If you would like to be put on the wait list, please email Eve Kennedy at ekennedy@bwfa.com
 
Presented by:
Townsend Hornor, Jr.
Managing Director,
Wealth Management
Thad Ismart,    

CFP®

   
Senior Financial Planner

Baltimore-Washington Financial Advisors invites you to attend a symposium on implementing and adopting strategies for a successful retirement.
Topics to include:
  • Avoiding the common mistakes
  • Have you saved enough?
  • Creating a vision – where will you live, what will you be doing, who will you live near?
  • Evaluating your retirement savings
  • Social Security
  • Healthcare options/choices
  • Creating a retirement paycheck
  • Tax implications
  • Asset Allocation Strategies for retirement
Come join us as we discuss these issues and more!
In 2015 $15 Billion was stolen from 13.1 Million U.S. Consumers. What will Identity Theft cost you? 

Identity Theft: Are You Protecting Your Most Valuable Asset?
Thursday, August 17, 2017
11:45 AM – 1:00 PM
Lunch will be provided
 


 
Only 8 Seats Available!

Baltimore-Washington Financial Advisors invites you to a discussion on identity theft.
Topics to include:
  • What is identity theft?
  • What are the risks?
  • How does identity theft happen?
  • What to do if your identity has been stolen
  • How to be proactive to prevent identity theft?
Come join us as we discuss these issues and more!
Facebook
Twitter
Pinterest