Last week was one of polar opposites. Midweek offered positive events with the large-cap benchmarks nearing their all-time highs, and the small-cap Russell 2000 (which is more US centric) responded slightly better by establishing a record finish on Wednesday.
Then, at the end of the week, major market indexes experienced a sharp decline motivated mostly by overseas events and a global outage of Bloomberg terminals (one of the most widely used sources for financial information).
From an economic perspective here in the US, we are seeing signs of industrial production slowing, but employment, housing, and consumer confidence continue to move in the right direction. As of right now, there are no actionable economic signals, but we will continue to monitor the situation to detect if any early warning signs emerge.
To learn more about how we evaluate the trends and risks associated with the market, take a look at today’s market commentary video here.
