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Monthly Market Update: 
Recap of October 2019

Thanks for tuning in, I’m Eric Powell with RightPlan Financial and this is your monthly market update.

 

With news of a possible China trade deal that seemed to fall apart as of now, talks of impeachment, global recession, and multiple disappointing IPO’s, the market still squeezed out a positive result in October.

 

The S&P 500 was up 2.17%, the Dow up .59%, the Nasdaq up 3.71%. International and emerging markets were up for the month as well and bonds barely stayed positive.

 

October brought third quarter company earnings in the spot light with over 70% of the companies that have been reported beating analyst expectations. The Federal Reserve also lowered the fed fund rate by 25 basis points. The Fed noted a slowing global economy, trade concerns and low inflation as key points in lowering rate.

 

The GDP has been another recent focus. The GDP measures the total market value of all US goods and services produced. When the number goes up, the economy is growing by producing more goods and services and when the number goes down, the economy is slowing down with less output. The expected third quarter GDP was 1.6%, but the real number was 1.9%. It is always good when the projected number is beaten out by the real number.

Always remember to keep a long-term view of the markets and stick to your financial plan. If you have any questions, please feel free to reach out.