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Weekly Market Review

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MCF Capital Markets Update - August 15th, 2019

Tuesday’s rally was the result of a partial Trump reprieve, announcing that some Chinese products targeted in the latest round of tariffs would be excluded or delayed until December 15. Negotiators from both sides agreed to talk in two weeks.[1] The positive news quickly lost steam Wednesday due to a slew of economic data. The market selloff Wednesday was primarily a reaction to concerns of slowing global growth.

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MCF Weekly Capital Market Review - August 12th, 2019

Trade war tensions continued to take a toll on markets last week with equities finishing in the red, even more so for international equities. Gold continued its climb, breaking the $1,500-mark last week for a 1-year return of over 23% and reaching a 6-year high.

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MCF Weekly Capital Market Review - August 5th, 2019

As largely anticipated, on Wednesday the Fed cited muted inflation pressures and global developments (weaker global growth and bubbling trade disputes) as reasons to cut interest rates 0.25%.[1] The rest of the release paints a pretty rosy picture of the US economy with strong labor markets and moderate economic growth. So why cut rates? Under Greenspan, The Fed responded similarly in 1995-1996 and in 1998, with what now is known as an “insurance” cut.[2] An insurance cut is used as a cushion to protect the economy against potential weakness, rather than the traditional view of responding to real economic weakness.

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MCF Weekly Capital Market Review - July 29th, 2019

Mostly positive earnings reports buoyed markets the past two weeks. Most tech giants were positive, with beats from Microsoft, Alphabet, Facebook, and Twitter. Notable misses for the past two weeks included Amazon, Netflix, and Boeing. Heavy earnings releases continue for the next two weeks before tapering off. For the week, major US equities were positive although international equities were down.

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MCF Weekly Capital Market Review - July 23rd, 2019

Earnings season has begun in earnest and positive surprises are outweighing the negative surprises so far. Despite the mostly positive beats, US equity markets were down over 1% for the week. Forward earnings estimates came down earlier this year, tempering expectations of corporate growth and arousing suspicion of a slowing economy. This year has also faced growing uncertainty surrounding geo-political events and central banking policies. Positive earnings would be a partial salve against these negative developments.

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