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Market Updates

Morning Commentary

April 12th, 2019

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Headline news:

Futures are moving higher after good a earnings report from JP Morgan got earnings season off to a good start. Signs of a stabilizing Chinese economy helped cool fears of a global slowdown.  Asian and European markets were all higher.

Markets:

The S&P 500 has formed a tight trading range of 2867.14-2895.95, and as of 8:49 p.m. the index is set to open 19.80 points higher at 2911.60. This would be a breakout to a new high for the year and could bring in more buying.  A close above the old high could possibly be bullish for all U.S. markets. The RSI index is currently not overbought which is also possibly bullish for stocks.

Economy:

On Thursday the U.S. jobless claims report fell to a 49-year low at 196,000. This data shows strength in the labor market and could cool fears of a slowdown later in the year. Later today the U.S. import and export prices will be reported, and the Consumer sentiment number will also be released.

We are currently long term bullish and short term bullish.

John N. Lilly III
Accredited Portfolio Management Advisor℠
Accredited Asset Management Specialist℠
Portfolio Manager, RJ
Partner, DJWMG
Dominguez & Jones Wealth Management Group

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The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum Oscillator that measures the speed and changes of price movements.

The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S stock market. Past performance may not be indicative of future results. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investors’ results will vary. Opinions expressed are those of the author John N. Lilly III, and not necessarily those of Raymond James. “There is no guarantee that these statements, onions or forecast provided herein will prove to be correct. “ The information contained was received from sources believed to be reliable, but accuracy is not guaranteed. Investing always involves risk and you may incur a profit or loss. No investment strategy can guarantee success. The charts and/or tables presented herein are for illustrative purposes only and should not be considered as the sole basis for your investment decision. International investing involves special risks, including currency fluctuations, different financial accounting standards, and possible political and economic volatility. Investing in emerging markets can be riskier than investing in well-established foreign markets.

 

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