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Market Updates

Morning Commentary

April 25th, 2019

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Headline news:

S&P 500 futures were mixed after earnings miss by 3M, and upbeat results by Microsoft. Investors continue to watch the earning results to justify the strong move higher to start the year for U.S. markets. The GDP report will also come out on Friday which will also be closely watched.

Markets:

The S&P 500 marginally down yesterday on lower than average volume. This amounts to a sideways day as investors await earnings results and economic data to be reported. The RSI index is still overbought which could make it hard for the index to test the all-time closing high at 2939.86.

Economy:

Durable Goods Orders for March came in higher at 2.7% showing that there is still strong demand for U.S. goods. Americans filing for unemployment benefits came in at a lower number of 192k. Both reports help build the case for a continued strong economy.

We are currently long term bullish with short term caution.

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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