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The Newsletter

Succinct Summary:  Q3 earnings season kicked off in earnest this past week with several banks reporting. Most companies noted that the US consumer is doing very well. Consequently, the US economy has a solid grounding, despite the slowed down global growth. The surprise move to zero brokerage commissions was unexpected by some. The impact has been accelerated flows into ETFs and brokers adjusting to the reduced revenues by trying to cut costs to maintain margins.

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The Newsletter

Succinct Summary:  The global economy appears sluggish with pockets of bright spots like consumer spending. Some are worried that Europe might be headed for a recession and others are concerned that we are near the top of the cycle. All in all, the economy keeps trudging forward at a slackening pace.   

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The Newsletter

Succinct Summary:  It’s been a slow week in earnings. The main highlight was the meeting of central bank governors at Jackson hole where the Fed chair acknowledged that the US economy is characterized by weak growth, weaknesses in manufacturing and stable inflation. Elsewhere, retailers have noted that in-store pick up resonates a lot with consumers. Significantly, CEOs expanded the focus of a company to beyond just serving the shareholders.

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