Market Week: June 7, 2017

Nominal measures are the (global) story today Here’s an update on three of today’s consensus views that we continue to disagree with: 1) “U.S. soft economic data is not matching the hard data.” Missing the point: U.S. real growth is stable, nominal turned up, helping earnings. Nominal also matters for confidence (e.g. Biz Roundtable) & the level is still high. Soft & hard economic data still closer in Europe, increasing the odds of a U.S. economic reconnect. Inventory rebui… View More

OPEC Agrees to extend production cuts and Oil prices drop on the news???? Stock market is still showing signs of strength based on strong earnings and revenues after the first quarter earnings wrap up….

Markets rallied last week; Technology stocks continued to lead the way, with the NASDAQ outpacing all other indices for the week as well as year-to-date. The notable exception, though, was the Energy sector which declined despite an extension of OPEC’s production freeze agreement (more on this below). Political headlines have mostly followed President Trump on his first overseas trip to Saudi Arabia, Israel, the Vatican, Belgium and Italy. The momentary reprieve from the domestic spotlight all… View More

Political events finally affect the market, with the biggest one day drop in more than eight month. Is this a sign that market volatility will actually pick up or just more of the same old same old???

Markets were volatile last week as political events continued to dominate headlines. On Wednesday, revelations related to President Trump’s dismissal of FBI Director James Comey unnerved investors; the 373-point drop in the Dow Jones Industrial Average was the Index’s largest decline in more than eight months. Markets recovered a portion of Wednesday’s sell-off on Thursday and Friday and markets are up today as economic data provided some reassurance of favorable business conditions. Joble… View More

What does Director Comey have to do with the market?

With some of the news coming out about about Director Comey and the impact it is having on our political environment (and market), we wanted to share a research piece we read. In answer to the question we placed at the head of this email, there is no direct connection between Director Comey and the markets. Earnings have been strong, economic data has been good, and we believe fundamentals will continue to do well. However, there are some legitimate concerns over the news coming out and whether … View More

Political circus overshadows some good news for the economy…Big retailers still under pressure but Consumers are still strong……

Stocks were mixed-to-down last week as political events dominated headlines. The firing of FBI Director James Comey might have impeded the administration’s tax reform and infrastructure agendas; so far, though, the market’s non-reaction may actually accelerate policymaking timelines as the administration looks ahead. Friday’s announcement of certain trade agreements with China highlighted progress on discussions that began following the President’s meeting last month with Chinese Preside… View More

Recent Posts


Fortem Financial Group, LLC, has adopted this policy with recognition that protecting the privacy and security of the non-public personal information we obtain about our customers is an important responsibility.

All financial companies choose how they share your non-public personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your non-public personal information. Even when you are no longer our customer, we will only share your non-public personal information as described in this notice. So, please read this notice carefully to understand what we do.

The types of non-public personal information we collect and share depend on the product or service you have with us. This information can include items such as your Social Security number and income, your account balances and transaction history, and your investment experience and account transactions.

We collect your non-public personal information in a variety of ways. For example, we obtain your non-public personal information when you open an account or give us your income information, tell us about your portfolio or deposit money, or enter into an investment advisory contract. We also collect your non-public personal information from other companies. For example, from the custodians who hold your account assets.

All financial companies need to share customer’s non-public personal information to run their everyday business. Below, we describe the reasons we can share your non-public personal information and whether you can limit this sharing.

We share your non-public personal information for our everyday business purposes such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, report to credit bureaus, to protect the confidentiality or security of your records, or as permitted by law. We may also share your non-public personal information for our own firm’s marketing purposes; so that we can offer our products and services to you.

Federal law gives you the right to limit only sharing non-public personal information about your credit worthiness for our affiliates’ everyday business purposes; sharing non-public personal information about you with our affiliates to market to you; and sharing non-public personal information with non-affiliates to market to you.

We don’t share non-public personal information about your creditworthiness with our affiliates for their everyday business purposes. We don’t share your non-public personal information with our affiliates to market to you. We don’t share your non-public personal information with non-affiliates to market to you. We also don’t share your non-public personal information for joint marketing with other financial companies. State laws and individual companies may give you additional rights to limit sharing.

We share non-public personal information with our parent company affiliate, Focus Financial Partners, Inc, for its internal and external auditing purposes. We also share your non-public personal information with a non-affiliate for the purpose of aggregating it and providing summary information based on this data to our parent company, Focus Financial Partners, Inc.

To protect your non-public personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.

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.

If you have questions please call us at 760-206-8500 or go to our website at


Fortem Financial Group, LLC ("Fortem Financial" or the "Firm") is a federally registered investment adviser with offices in California and Arizona. Fortem Financial and its representatives are in compliance with the current registration and notice filing requirements imposed upon federally registered investment advisers by those states in which Fortem Financial maintains clients. Fortem Financial may only transact business in those states in which it is notice filed, or qualifies for an exemption or exclusion from notice filing requirements.

This website is limited to the dissemination of general information regarding the Firm's investment advisory services offered to U.S. residents residing in states where providing such information is not prohibited by applicable law. Accordingly, the publication of Fortem Financial' website on the Internet should not be construed by any consumer and/or prospective client as a solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment, tax or legal advice. Furthermore, the information resulting from the use of any tools or other information on this website should not be construed, in any manner whatsoever, as the receipt of, or a substitute for, personalized individual advice from Fortem Financial. Any subsequent direct communication from Fortem Financial with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. Fortem Financial does not make any representations as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to this website or incorporated herein, and takes no responsibility therefore. All such information is provided for convenience purposes only and all users thereof should be guided accordingly.

All statements and opinions included on this website are subject to change as economic and market conditions dictate, and do not necessarily represent the views of Fortem Financial or any of their respective affiliates. Past performance may not be indicative of future results and there can be no assurance that any views, outlooks, projections or forward-looking statements will come to pass. Investing involves risk, including the potential loss of principal, and the profitability of any particular investment strategy or product cannot be guaranteed.

Any rating referenced herein may not be representative of any one client's experience. Further, the Firm's receipt of any rating is not indicative of the Firm's future performance. The Charles E. Merrill Circle of Excellence award is granted by Merrill Lynch for outstanding client service and satisfaction. The award is granted based on annual criteria established by Merrill Lynch for its top decile advisors. The Barron's Top 1,200 Financial Advisors rating of the top financial advisors in the United States is based on data provided by participating firms. The following factors are included in the rankings: assets under management, revenue produced for the firm, regulatory record, quality of practice and philanthropic work. Investment performance is not an explicit component. The Palm Springs Life's "40 Under 40" Rising Young Professionals to Watch in the Coachella Valley is based upon nominations from the local business community and selected by the staff of Palm Springs Life.

For information pertaining to the registration status of Fortem Financial, please refer to the Investment Adviser Public Disclosure website, operated by the U.S. Securities and Exchange Commission, at, which contains the most recent versions of the Firm's Form ADV disclosure documents.