(678) 971-1337

Access Your Account Online
☰ Menu
Market Updates

Morning Commentary

May 9th, 2019

wealth management group near me - DJWMG Logo IMG

Headline news:

U.S. markets are set to open lower once again on fears of the U.S.- China trade dispute. European markets were off half a percent, and Asian markets were off 1.8%. There is growing doubt that new U.S. tariffs can be avoided which is sending investors into safe-haven bonds. The Vice Premier of China will be in Washington today to try and hammer out a trade deal.

Markets:

The S&P 500 sold off late in the day on Wednesday and is now at a support level of 2873.33. The 50-day moving average should now potentially be important support at 2858.46. Traders will be watching this level closely, and any break could bring in more selling on heavy volume. The RSI index is also moving lower and is now below the important 50 level. So, we will remain short cautious going forward.

Economy:

The producer price index, PPI, increased 0.2% in April and year-over-year it now up 2.2%. Weekly jobless claims totaled 228,000 which was below the prior reading of 230,000. All signs that the U.S. still has a healthy 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

Wealth Management Firms Near Me - Bull and Bear Graph IMG 5
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.

 

 

Securities offered through Raymond James Financial Services, In., Member FINRA/SIPC.  Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Dominguez & Jones Wealth Management Group is not a registered broker/dealer, and is independent of Raymond James Financial Services. Raymond James financial advisors may only conduct business with residents of the states and/or jurisdications for which they are propertly registered.  Therefore, a response to a request for information may be delayed.  Please note that not all of the investments and services mentioned are available in every state.  Investors outside of the United States are subject to securities and tax regulations within their application jurisdications that are not addressed on this site.  Contact your local Raymond James office for information and availability. Links are being provided for information purposes only.  Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors.  Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.
Click Here to view the Raymond James Corporate Privacy Notice.