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4400 Post Oak Pkwy #200
Houston, TX 77027
Financial Synergies Wealth Advisors is a fee-only, fiduciary Financial Advisor in Houston, Texas. We specialize in wealth management services, including comprehensive financial planning and investment management.
For more than thirty years we’ve been serving the financial needs of individuals, families, and businesses in Houston, Texas and around the country.
Wealth Management Services include financial planning, retirement planning, investment management, tax planning, insurance planning, estate planning, and company retirement plans.
Find out if we’re a good match for your financial planning and investment management needs. We offer a free, no-obligation consultation to help us get to know each other. We can meet by phone, in-person, or online.
4400 Post Oak Pkwy #200
Houston, TX 77027
Financial Synergies Wealth Advisors is a fee-only, fiduciary Financial Advisor in Houston, Texas. We specialize in wealth management services, including comprehensive financial planning and investment management.
For more than thirty years we’ve been serving the financial needs of individuals, families, and businesses in Houston, Texas and around the country.
Wealth Management Services include financial planning, retirement planning, investment management, tax planning, insurance planning, estate planning, and company retirement plans.
August 18, 2017 Weekly Market Recap
Wall Street had a disappointing week, its second in a row, as investors continued to drag the major U.S. indices from their all-time highs. The Dow, the S&P 500, and the Nasdaq finished with losses of 0.8%, 0.7%, and 0.6%, respectively, while the small-cap Russell 2000 underperformed (-1.2%), dropping to its flat line for the year.
The week’s most notable headlines in chronological order:
Thursday’s session was perhaps the most notable of the week as the S&P 500 registered its second-worst performance of the year. The major indices opened Thursday’s session with modest losses, but moved deeper into negative territory following a rumor that President Trump’s chief economic advisor Gary Cohn plans to resign from his position following the president’s controversial comments regarding last weekend’s events in Charlottesville, VA. The White House later declared that the rumor was “100% false”, but it did little to reverse the market’s downward trend.
Those concerns eased a bit on Friday after President Trump fired White House Chief Strategist Steve Bannon, a decision that was well received by the market. Mr. Bannon was the chief executive of Mr. Trump’s presidential campaign and has been described as a polarizing figure within President Trump’s inner circle. To some, in the absence of Mr. Bannon, the thinking is that the president might dial back his rhetoric a bit, making it easier for the White House to work with Congress in passing the president’s pro-growth agenda.
Following this week’s events, the fed funds futures market now points to the March 2018 FOMC meeting as the most likely time for the next rate-hike announcement with an implied probability of 51.5%. Last week, the market expected the next rate hike to occur in June 2018 with an implied probability of 57.5%.
Source: Briefing Investor
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