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Market Updates

Morning Commentary

April 2nd, 2019

 

Headline news:

U.S equities are set to take a break this morning with S&P 500 futures down 2.46 at 7:35 a.m. Traders will be looking at economic data releases today for more clues to the future of the U.S. economy. Upbeat U.S. and China manufacturing data released on Monday brought a rally on Wall Street.

Markets:

The S&P 500 moved to a new high for the year yesterday, and it closed at 2867.19. The index has moved higher three days in a row with average volume. We feel the another the buying could potentially slow down, but not enough to end the recent rally. I a pullback into the top end of the recent trading range would be healthy for the index.

Economy:

The World Trade Organization, WTO, reported that world trade shrank by 0.3% in the fourth quarter, and it is likely to grow by 2.6% this year. This data more evidence of a possible slowdown in the U.S. economy later this year. The 3- month 10-year yield curve spread has moved back to positive at .06bps, so we are confident in a strong economy at this time.

 

We are currently bullish.

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

 

 

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.

 

 

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