
August 13, 2018 Weekly Economic Update
In this week’s recap: core inflation reaches a 10-year peak, oil’s losing streak continues, earnings impress, and Wall Street indices have a mixed week.
In this week’s recap: core inflation reaches a 10-year peak, oil’s losing streak continues, earnings impress, and Wall Street indices have a mixed week.
The Equity Trend Model posted a return of 2.60% in July. Despite the solid return, the Equity Trend Model underperformed the S&P 500 Total Return Index which posted a return for the month of 3.72%.
In this week’s recap: stocks continue their win streak despite a mediocre jobs report and dips for the ISM indices; household spending and confidence rise.
The Institute for Supply Management announced this milestone as it revealed a 58.6 May reading for its non-manufacturing purchasing manager index.
Net job growth surprised to the upside in May: companies added 223,000 more workers than they laid off or fired. At 3.8%, the unemployment rate is now where the Federal Reserve thought it would be at the end of 2018, and it is also at its lowest level since April 2000.