June 18, 2019
WEEKLY ECONOMIC UPDATE
THE WEEK ON WALL STREET

The market seemed to put its recent preoccupation with trade issues aside, with attention shifting to this week's Federal Reserve monetary policy meeting. Traders in futures markets now believe the Fed will make a rate cut in July, so its June policy statement will be of great interest.3
oil prices ROLLCOASTER 
 
Attacks on vessels in the Strait of Hormuz, the busy oil shipping channel, helped to push the price of West Texas Intermediate crude 2.2% higher Thursday, just a day after a 4% fall. Even so, WTI crude lost 2.7% in five days, closing Friday at $52.51 on the New York Mercantile Exchange.
Investors wondered at mid-week if tensions in the Persian Gulf region would soon impact oil output and transport. Looking beyond the short term, however, the International Energy Agency reduced its 2020 projection for global oil demand.4  
Households bought more in may
 
Retail sales rose 0.5% last month, according to the Department of Commerce. Across the year ending in May, they advanced 3.2%. The previously announced 0.2% April retreat was revised into a 0.3% gain.
These numbers affirm strong household spending this spring. Consumer spending accounts for more than two-thirds of the nation's gross domestic product.5
what's ahead

In terms of news, Wednesday offers what may prove to be the biggest economic event of the week: a Federal Reserve policy statement and press conference.
THE WEEK AHEAD: KEY ECONOMIC DATA
 
Wednesday: The Federal Reserve concludes a 2-day policy meeting, with Fed chair Jerome Powell addressing the media afterward.
Friday: The National Association of Realtors releases data on May existing home sales.
Source: Econoday / MarketWatch Calendar, June 14, 2019
The Econoday and MarketWatch economic calendars list upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
THE WEEK AHEAD: COMPANIES REPORTING EARNINGS

Tuesday: Jabil (JBL)
Wednesday: Kraft Heinz (KHC), Oracle (ORCL)
Thursday: Kroger (KR), Red Hat (RHT), Darden Restaurants (DRI)
Friday: CarMax (KMX)
Source: Zacks.com, June 14, 2019
Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Any investment should be consistent with your objectives, time frame, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
Phil Guerrero, CFP®
President
Wealth Advisor

Terry Maziarka
Client Service Manager

847.550.6100
WEEKLY QUOTE
 
"It's hard to beat a person who never gives up."
BABE RUTH
WEEKLY TIP

Some people take out personal loans to pay off high-interest credit card debts. For some, this is a worthwhile financial move - but it has potential drawbacks. It can feel like exchanging one debt for another, and the conditions or behaviors that created the original credit card debt may remain.
WEEKLY RIDDLE
 
What is the worst vegetable to have on a ship?
LAST WEEK'S RIDDLE
 
What is taken before you can get it?
 
ANSWER: Your picture.