Message from Jon
At present, the markets seem poised to remain in a positive trend. The FED has made it clear that they are not opposed to cutting interest rates, and the tensions on trade seem to have relaxed.1 Short of Presidential spats with the Democrats on Capitol Hill, we seem to have hit a quiet period of time in terms of headwinds, tensions, and landmines that have to be navigated.2
We are entering into the second half of the year where the days are shorter, and the setting of the sun seems to be approaching sooner. The VIX at this writing is around a 12, showing little concern for risk at present.3 At the risk of sounding too Pollyannaish at the moment, the markets seem to be hitting their stride or second wind, but for how long is anyone's guess in our opinion.
I do think that whenever the general population is expressing interest in investing in the markets it's normally a sign that we are nearing an end of a rally, not the beginning of one.
We have gotten to talk with Devin twice in 5 weeks with as many letters exchanged between us. His "flight" group began with 60 is now down to 48. He misses mom's cooking and listening to music the most, and according to him, they are all humming their favorite songs, but none of them can remember the lyrics! As soon as he gets some liberty on base, he is going to kill a SUBWAY footlong sandwich. Ah, the things you end up missing the most when you are separated from home and what matters most.
Till we speak again-stay cool and enjoy your week!
S&P 500 Tops 3,000
WEEKLY UPDATE - JULY 15, 2019
The Week on Wall Street
Friday, the S&P 500 settled above 3,000 for the first time, after rising 0.78% for the week. The Dow Jones Industrial Average chalked up a milestone of its own: the blue chips ended the week above 27,000, gaining 1.52% on the way. Additionally, the Nasdaq Composite wrapped up the week 1.01% higher. The MSCI EAFE index, a gauge of overseas developed markets, fell 0.65%.
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