September 25, 2020

    The S&P 500 index declined about 1% this week, after starting off lower on Monday, due to increasing international Covid cases and concerns over renewed shutdowns. Gold fell over 4%, in part due to a strengthening U.S. dollar. Existing home sales and new home sales for August were better than expected. Weekly jobless claims were very similar to last week, but the 4-week moving average continues to fall. Next week we look forward to the monthly jobs report and several manufacturing data points to close out the third quarter. This week we were quoted in an online article: https://www.bankrate.com/investing/growth-investing-vs-value-investing/. To learn more about our financial planning, including our subscription service, please call (937) 435-2742.

    Ryan P. Johnson CFA, CFP®
    Director of Portfolio Management and Research

    Commentary Disclosures


     

    September 18, 2020

    The S&P 500 index declined slightly this week. The Value style, which is skewed towards stocks with lower valuations, higher dividends, and a relatively low weighting in Technology stocks, outperformed the Growth style for the third week in a row. Growth has strongly outperformed Value this year, but this is a possible emerging change in leadership that we are watching. This week the Federal Reserve noted it does not see inflation topping 2% through at least 2023, signaling very low short-term interest rates for years to come. Retail sales increased in the month of August but at a slower pace than expected, weekly jobless claims improved from last week, consumer sentiment was better than expected, and a leading economic indicators index had a positive reading for the fourth month in a row. Mortgage rates remain near record lows, below 3%, but loans to refinance will be impacted by a new 0.5% fee from the Federal Housing Finance Agency as soon as December 1. To learn more about our financial planning, including our subscription service, please call (937) 435-2742.

    Ryan P. Johnson CFA, CFP®
    Director of Portfolio Management and Research

    Commentary Disclosures