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Trade and Earnings look like they are moving in the right direction

by Fortem Financial October 28, 2019

Trade commentaries and earnings results provided momentum for a third straight week of gains. The Nasdaq led with a gain of 1.90% followed by the Russell 2000® Index (1.51%), the S&P 500® Index (1.22%) and the Dow Jones Industrial Average (0.70%). With earnings results from approximately 36% of the companies in the S&P 500®, nearly 80% of reporting companies exceeded analysts’ expectations. Companies across many sectors (including Microsoft, Intel, Phillips 66, Boston Scientific, An… View More

Corporate earnings are strong and lift markets to near high levels

by Fortem Financial October 21, 2019

Last week the S&P 500® Index (0.54%) posted its second consecutive weekly gain on the strength of corporate earnings. For the week the Russell 2000® Index (1.56%) led the major indices followed by the S&P 500® (0.54%) and the Nasdaq (0.40%) while the Dow Jones Industrial Average fell -0.17%. The Dow lost ground on reports from Johnson & Johnson of a baby powder recall (due to traces of asbestos) and Boeing (on reports the company failed to disclose “concerning” instant message… View More

Positive movement on Trade with Q3 earning heading our way

by Fortem Financial October 14, 2019

The markets closed higher for the week, and ended a three-week losing streak, following Friday’s announcement of a “phase 1” partial trade deal. The White House announced the suspension of tariffs scheduled for this Tuesday on $250 billion worth of Chinese imports; China agreed to purchase between $40 billion and $50 billion of U.S. agricultural goods. For the week, the Nasdaq rose 0.93% followed by the Dow Jones Industrial Average (+0.91%), the Russell 2000® Index (+0.75%), and the S&… View More

Great year so far but the Market is currently treading water waiting for Q3 earnings next week

by Fortem Financial October 7, 2019

Through September, the S&P 500® Index posted a year-to-date gain of 19%, its best performance since 1997; these results, though, mask the modest 2.2% one-year performance. The equity markets reversed course last Tuesday following the release of the September ISM Manufacturing Index; the 47.8 reading, the lowest level in ten years, heightening recessionary fears. On Friday, the equity markets recovered with a “goldilocks” jobs report. The economy added 136,000 jobs in September and unemp… View More

Handicapping the Trade-Related Trump Slump & Tech Sector Focus

by Fortem Financial October 3, 2019

With non-farm payrolls set to be reported on Friday, the headline September data has, thus far, left something to be desired. While this is far from new news, investors have stretched the growth discount in the opening days of the quarter. While we’d bet better than even money this corrective phase continues in coming weeks, we do not anticipate a re-play of the 4Q’18 experience. For one, despite a weaker Sept. U.S. PMI, global activity gauges have actually improved M/M, a far cry from circu… View More

It makes no difference what comes out of Washington they will not derail our great economy…..No matter how hard they try!!!

by Fortem Financial September 30, 2019

Politics overshadowed trade again this week with House Speaker Pelosi’s announcement of a formal impeachment inquiry into President Trump. The equity markets reaction reflects concern that the inquiry might imperil Congress’ approval the USMCA agreement and hold up spending bills. The resulting “risk off” sentiment led to across-the-board weekly declines as the Russell 2000® Index declined 2.52%, followed by Nasdaq (‑2.19%), S&P 500® Index (-1.01%) and Dow Jones Industrial Averag… View More

The Fed, Trade and Oil supplies drove markets last week

by Fortem Financial September 23, 2019

The equity markets, following three consecutive weekly gains, declined last week as concerns relating to trade, Federal Reserve policies and oil supplies weighed on market sentiment. The Russell 2000® Index fell 1.17%; losses for the other indices included the Dow Jones Industrial Average (-1.05%), Nasdaq (‑0.72%) and S&P 500® (-0.51%). The week began with news of drone attacks, purportedly by Iran, on Saudi Arabia’s production facilities; the impact on production, 5.7 million barrels … View More

Trade is still the tail that wags the Dog

by Fortem Financial September 16, 2019

Positive trade-related commentary from the U.S. and China provided momentum as markets rebounded from oversold conditions for many cyclical stocks. The Russell 2000® Index rose 4.85%, its best weekly gain since 2016. The Dow Jones Industrial Average (1.57%), the S&P 500® Index (0.96%) and the Nasdaq (0.91%) were also positive for last week. Some analysts note that a trade deal might provide a greater upside for value stocks over growth stocks; indeed, this week’s gains in the Russell 200… View More

Markets continue to trend up waiting for Q3 Earnings season to start in early October

by Fortem Financial September 9, 2019

Equity markets continued to rally last week as the U.S. and China announced plans to meet again in early October. The S&P 500® Index (1.79%) led the major indices, followed by Nasdaq (1.76%), Dow Jones Industrial Average (1.49%) and the Russell 2000® Index (0.69%). New tariffs went into effect on September 1st; and the markets, in the absence of progress in trade negotiations, reacted negatively. Also, the release of the July ISM Manufacturing Index, which fell below 50 for the first time … View More

Trade and Fed Rate cuts still in question! Deals on both need to be made to move forward

by Fortem Financial September 3, 2019

The equity markets rebounded last week to close the month on a positive note.   The Dow Jones Industrial Average (3.02%) led the major indices, followed by the S&P 500® Index (2.79%), Nasdaq (2.72%) and Russell 2000® Index (2.42%).  Commentary from the U.S. and China seemed to suggest that both sides want to continue trade discussions; the previously scheduled September meeting has not been canceled.  Also, China has not responded to the latest tariff increases from the U.S.; and Chin… View More

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Our policy about obtaining and disclosing non-public personal information may change from time to time. We will provide you notice of any material change to this policy before we implement the change.

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