Weekly Economic Update: October 9, 2017

Weekly Economic Update
October 9, 2017
The Markets (as of market close October 6, 2017)
Equities continued to surge last week as the major benchmark indexes posted notable gains – despite a late Friday downturn. Only the Global Dow failed to increase by at least 1.0%. The labor report’s strong wage gains may have enticed long-term bond investors to sell, pushing prices on 10-year Treasuries lower while inflating yields. The price of crude oil reversed a rising trend over the past few weeks and fell. The price of gold declined as well.
Last Week’s Economic Headlines
  • Hurricanes Harvey and Irma could have had a significant impact on the unemployment rate decline.
  • Hurricane Harvey may have also disrupted shipping along the Gulf Coast, impacting foreign trade in August. A relatively weak dollar has made U.S. goods and services cheaper to buy for foreign consumers, expanding exports. Moderate domestic economic growth has encouraged buyers to shop in less expensive foreign markets, pushing imports higher.
  • Purchasing managers were optimistic about the manufacturing sector in September with reports showing growth in new orders, production, and employment.
  • In the services sector, optimism was reflected in the increase in September non-manufacturing. Non-manufacturing industries reporting growth in September include retail trade; real estate, rental & leasing; finance & insurance; and accommodation & food services.
Eye on the Week Ahead
BWFA continues to stay fully invested in all our models as there are continued signs that selective growth investments will continue to provide our clients with long term returns to meet future needs.
Trading during the Columbus Day week is expected to be slow. From an economic perspective, the first reports of inflationary indicators for September are out next week, including the Consumer Price Index and the Producer Price Index. Price growth has been weak for 2017 and is not expected to have changed much in September.
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 Steve Elville, Esq.
Tuesday, October 31, 2017
11:45 AM – 1:00 PM
Lunch to be provided
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Baltimore Washington Financial Advisors and Elville and Associates, invite you to this interactive workshop on “Elder Law.”
“Elder Law attorneys are not just lawyers, they are counselors.”
At this workshop, you will learn that Elder Law Encompasses many things such as:
  • Planning for individuals and families who do not have taxable estates, but who are primarily concerned about the protection of the assets and addressing disability and long-term care issues
  • Medical Assistance: Medicaid, long-term care planning, asset protection, nursing home and assisted living selection and placement
  • Social Security issues, Veterans’ Benefits, Senior housing issues
  • Powers of Attorney, Advance Medical Directives, wills, trusts and more
Come join us as we discuss these issues and more!