China Announces More Tariffs
In This Issue
The Week on Wall Street
Traders assumed that the week's biggest news event would be Federal Reserve Chairman Jerome Powell's speech at the annual Jackson Hole banking conference. Instead, China seized the headlines by announcing new tariffs on U.S. goods.
Domestic stocks ended up lower for the week. The Nasdaq Composite fell 1.83%; the S&P 500, 1.44%; the Dow Jones Industrial Average, 0.99%. International stocks posted a weekly gain: the MSCI EAFE benchmark rose 0.96%.[1][2]

Beijing Plans New Tariffs
Friday morning, China's finance ministry stated it would levy import taxes of 5-10% on an additional $75 billion of American imports. One set of tariffs is slated to start September 1, targeting U.S. crops, meats, and seafood. A second set, effective December 15, will put tariffs on U.S.-made cars and car parts. In total, these taxes are scheduled for more than 5,000 American products.

Friday evening, the White House announced two rounds of 5% increases on existing U.S. tariffs on Chinese goods, to be successively implemented on September 1 and October 1.[3][4]

Powell Reflects at Jackson Hole
Friday, Jerome Powell delivered an address on monetary policy at the Kansas City Fed's annual Jackson Hole symposium. He noted that the global economy currently presented a "complex, turbulent picture," and added that the Fed was "carefully watching developments" and would "act as appropriate."

Investors wonder if the central bank will consider another rate cut at its September meeting. Comments from other Fed officials at Jackson Hole did not indicate a consensus on that matter.[5] 

Leading Indicators Rise
The Conference Board, the business research group known for its monthly Consumer Confidence Index, also publishes a monthly Leading Economic Indicator (LEI) Index. The Conference Board LEI provides a forward-looking analysis of the health of the business cycle, looking at ten factors ranging from consumer expectations to stock prices to construction activity.

In July, the LEI rose 0.5%, following 0.1% descents in May and June. This sudden increase offers optimism at a time when investors are wondering about the momentum of the economy.[6] 

Final Thought
Bond prices have risen around the world, leading to lower bond yields. In some instances, yields have turned negative. While the yield on the 10-year Treasury has also declined, it is still above 1.5%, notably exceeding the yields of similar-duration bonds in France, Germany, Spain, and the United Kingdom.[7]

Tuesday: The Conference Board's July Consumer Confidence Index.
Thursday: The Bureau of Economic Analysis presents the second estimate of second-quarter economic growth, and the National Association of Realtors publishes new data on pending home sales.
Friday: July consumer spending data from the Department of Commerce, and July's final University of Michigan Consumer Sentiment Index (a gauge of consumer confidence levels).
Source: Econoday / MarketWatch Calendar, August 23, 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.
Tuesday: Autodesk (ADSK)
Thursday: Abercrombie & Fitch (ABF), Best Buy (BBS), Lululemon Athletica (LULU)
Source: Zacks, August 23, 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.

"The pessimist sees difficulty in every opportunity. The optimist sees opportunity in every difficulty."

- Winston Churchill
DIY Pesto
[2 cups]

  • 2 cups (or more) of fresh basil leaves
  • 2 Tbsp. of pine nuts
  • 2 cloves of garlic
  • ½ cup olive oil
  • ¾ cup parmesan cheese, grated 

Pesto is the perfect summer dish because it doesn't require turning on a hot oven or stove, it can be enjoyed on its own or added to pastas and pizzas, and it's a great way to use that basil you might have been growing this summer. 
  1. Remove the stems from the basil leaves.
  2. Combine the basil, pine nuts, and garlic in a food processor and process until finely minced.
  3. As the food processor continues to mix, slowly add in the oil until smooth.
  4. Add the cheese and process to combine.
  5. Enjoy!
Recipe adapted from New York Times Cooking[8]

The Scale Isn't Everything: More Comprehensive Ways to Measure Your Health

We live in a world driven by data, and if you're trying to lose a few extra pounds, you might turn to the scale to watch those numbers drop. But the scale doesn't tell the full story. Neither do stats like BMI (body mass index) because these calculations don't consider muscle mass, water weight, or other fluctuations.

Luckily, there are many other ways to measure your health. Put the scale away for a little while, and try these techniques to focus on your overall health rather than just a number:
  • Keep a journal and track your healthy habits, such as working out or eating veggies with every meal. Celebrate these small victories!
  • Take progress photos and compare them throughout your journey. Take your photos in the same pose, wearing the same outfit, at the same time every week (preferably in the morning before you've had breakfast).
  • Check in on other parts of your health, such as your energy levels, skin, tummy health, and more. Developing a healthy routine does so much more for your body than just lower the number on the scale. 
These are just a few of the ways you can check in with yourself on your fitness and wellness journey without the scale.

Tip adapted from Daily Burn [11]
Supporting Environmentally Friendly Companies

Our purchases are our vote, which is why many people choose to support environmentally conscious companies to share the green love. Here is a list of some of the biggest companies in the world that are choosing to be green in 2019:
  • IKEA - The Swedish furniture manufacturer is taking steps to be environmentally friendly in multiple ways, including sourcing nearly half their wood from sustainable foresters, all their cotton from Better Cotton farms, and having solar panels powering their stores.
  • Allergan - Allergan is the parent company of many cosmetic brands, including Botox. They've taken great strides to reduce water and energy consumption, waste, and emissions. In 2016, they won the EPA's Energy STAR award for the 5th time.
  • Seventh Generation - Seventh Generation creates environmentally friendly household cleaners and other products. Not only has Seventh Generation done their part, but they've also pressured other brands to do the same. 


Tip adapted from Virgin[12]

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Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

Diversification does not guarantee profit nor is it guaranteed to protect assets.

International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors.

The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.

The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the NASDAQ. The DJIA was invented by Charles Dow back in 1896.

The Nasdaq Composite is an index of the common stocks and similar securities listed on the NASDAQ stock market and is considered a broad indicator of the performance of stocks of technology companies and growth companies.

The MSCI EAFE Index was created by Morgan Stanley Capital International (MSCI) that serves as a benchmark of the performance in major international equity markets as represented by 21 major MSCI indices from Europe, Australia, and Southeast Asia.

The 10-year Treasury Note represents debt owed by the United States Treasury to the public. Since the U.S. Government is seen as a risk-free borrower, investors use the 10-year Treasury Note as a benchmark for the long-term bond market.

Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

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