psn, zephyr, psn-sma
With expectations for a U.S. recession in 2020 running high, one has to believe that bad economic data is priced into markets. We will continue to get more and more economic data releases that miss big on the downside. However, these misses will not come as a surprise, as most market participants are expecting the worst. Investors will continue to focus more on monetary and fiscal policy when determining their investment strategies rather then economic data that is expected to be very soft. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic industry-news
psn, zephyr, psn-sma
Economic data takes center stage with the Q4 earnings season coming to a close and with most eyes on the warnings for forward earnings, or the lack thereof, in the wake of the uncertain coronavirus. The inflation prints will be widely watched as supply shocks tend to be inflationary, however, expectations are for inflation to remain muted. Additionally, the consumer sentiment readings will be more telling as the data will correspond more closely to the coronavirus outbreak. Finally, don’t be surprised if we see some data misses as we move forward with economic data that captures the same period as the outbreak. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic Industry News
psn, zephyr, psn-sma
The week ahead is full of important economic data points, particularly with the coronavirus wreaking havoc on investor’s mindsets. The true impact that the viral outbreak will have on the economy will not be known for a few months, but we will start to see some signs with the upcoming February manufacturing data and jobs report. Solid data next week will help slow the equity sell-off. However, if the data misses' expectations, the sell-off could steepen. As for earnings releases, I will continue to focus on the forward guidance that the companies provide and the impact the coronavirus will have on their guidance. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic industry-news
psn, zephyr, psn-sma
With the coronavirus expanding to areas outside the China mainland, concerns regarding the ramifications on the global economy continue to grow. Starting next week with the consumer confidence prints, we will start to get some economic data that corresponds to the virus outbreak. The consumer has shouldered the economic expansion, and it will be very important for them to continue as the global economy is sure to take a hit due to the coronavirus. Additionally, some Federal Reserve officials will speak during the week ahead, which will be widely watched as markets are expecting the Federal Reserve to cut rates this year in response to the coronavirus. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic Industry News
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A stellar 2019 finished with a bang as the geopolitical risks that dominated headlines and markets for the better part of 2019 diminished during the fourth quarter while economic data remained stable. The S&P 500 index posted a +9.07% return during the quarter as a phase one trade agreement between the U.S. and China provided a boost for global markets and increased investor optimism. Furthermore, the MSCI EAFE index posted an +8.21% return during the quarter as global investors cheered the trade agreement while hoping the easing trade tensions will provide relief to the soft global economy. Despite a 25-basis point interest rate cut by the Federal Reserve (Fed), the improved investor sentiment hurt Treasuries, as the BofA Merrill Lynch US Treasury index returned -0.89% during the quarter.
Topic Industry News
psn, zephyr, psn-sma
The week ahead is full of housing data, from home builders' confidence to existing home sales. The housing market has recently stabilized, in large part due to a strong labor market and low mortgage rates, however, for the sector to completely rebound, inventory needs to pick up, so the release of housing starts and building permits data should be widely watched. Walmart is the headline earnings release, while providing insight into the consumer after the soft retail sales number last week. Is the consumer still willing to shoulder the economy, or are they losing some momentum? Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic Industry News
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We are excited to introduce Top Guns Model Portfolios to our quarterly Top Guns rankings and commentary. For those of you not familiar with Top Guns… Top Guns is a quarterly ranking of the best of the best Separately Managed Account (SMA) managers in the PSN SMA database, our proprietary SMA database. We rank the managers across various metrics such as return, risk, r-squared, and information ratio to determine the Top Gun award recipients as well as naming Manager of the Decade. These rankings help wealth managers who subscribe to the PSN SMA database more efficiently identify the top managers for consideration in their client portfolios. In turn, this also helps highlight our asset manager participants who are outperforming their relative benchmarks.
Topic industry-news
psn, zephyr, psn-sma
Despite the Q4 earnings season slowing down, there remains some big-name companies who are on deck to release earnings this week including: Cisco Systems, Applied Materials, and Nvidia. While it might be a quiet week for earnings, the week ahead is full of important economic data releases, including small-business optimism, inflation, and retail sales. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic industry-news
psn, zephyr, psn-sma
Based on how this week finished, most investors will be focusing on the coronavirus outbreak and its growth. However, the week ahead has some big earnings and economic data releases that are worth monitoring. The manufacturing PMI and ISM manufacturing indexes are top of the list, as the sector has stabilized recently and will be an important sign on the overall health of the economy. The end of the week includes the ever-important jobs report. As for earnings releases, Alphabet, Ford, Disney, and GrubHub are some of the names I will be watching closely. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic industry-news
psn, zephyr, psn-sma
The week ahead includes a full slate of earnings releases from blue chip companies. Despite all the big names that will be announcing Q4 earnings, including market drivers - Apple, Microsoft, Facebook, and Amazon.com - I will be keeping a close eye on FinTwit darling, Beyond Meat. After having an incredible run after going public in 2019, Beyond Meat’s price has been nearly halved. It will be interesting to see what valuations the earnings support. Despite expectations running high that the Federal Reserve will remain on the sidelines, their meeting this coming week will be closely watched for any signals that their monetary policy may change in the near future. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic industry-news
psn, zephyr, psn-sma
The fourth quarter earnings season picks up steam during the upcoming week. As I mentioned above, expectations remain muted for this cycle, however, there are some big names reporting during the upcoming week that should be closely watched. Below are some that I will be focusing on. The upcoming economic data release is light due to the shortened trading week, however, the Markit flash PMIs will be widely watched. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic industry-news
psn, zephyr, psn-sma
Low inflation has been a primary consideration during the Federal Reserve’s monetary easing in 2019, while, the week ahead will give us more insight on the current level of inflation. We will also learn more about the willingness of the U.S. consumer to spend when the retail sales numbers are released on Thursday. Finally, we get our first glimpse at the health of the housing market in 2020, which stabilized in 2019 thanks to lower mortgage rates. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic Industry News
psn, zephyr, psn-sma
The week ahead is full of noteworthy economic data releases. The initial PMIs will be widely watched to see if the manufacturing sector has found a bottom. Additionally, data on the housing sector will grab headlines, as we find out if low mortgage rates will continue to boost the sector. Finally, we will get another look at how the U.S. economy performed during the third quarter when the revised GDP report is released. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic industry-news
psn, zephyr, psn-sma
It is Fed week again! Next week’s Federal Reserve (Fed) meeting and Chairman Jerome Powell’s follow up press conference lacks some anticipation, as expectations are high that the Fed will keep key short-term benchmark rates in a range of 1.5% - 1.75%. With most expecting the Fed to take a pause in cutting rates, attention will be turned to the Fed’s statement and the follow up press conference to try and decipher the Fed’s monetary policy in 2020. As for economic data, the headliners will be the consumer price index and retail sales. Muted inflation was a primary reason why the Fed cut rates in 2019, and expectations are for inflation to remain soft moving forward. With the holiday season in full stride, retail sales will be widely watched and an important indicator on if the strong consumer will continue to shoulder the U.S. economy. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic industry-news
psn, zephyr, psn-sma
Over the past few months the housing market has solidified as low mortgage rates have brought buyers back to the market, however, inventory remains low. The week ahead will provide us with more information regarding the housing market turnaround. Additionally, we will receive the initial flash PMIs on the manufacturing and services sectors. Markets have priced in weak manufacturing numbers, however, if there is a bad miss on the downside, markets could react negatively. We are near the third quarter earnings cycle finish line, which has been better-than-expected to this point. The upcoming week is headlined by retailers, which will be widely watched. The economic expansion has been shouldered by the consumer, and in order for the expansion to continue, the consumer will need to continue to spend. We will find out if these brick-and-mortar retailers have capitalized on the strong consumer, what challenges they face with six less shopping days during the shopping season, and if they provide any insight on consumer spending trends moving forward. Read more from Ryan Nauman's Weekly Recap and subscribe to have it delivered to your inbox each week!
Topic industry-news