• Honkamp Krueger HK-Logo
  • HK Financial ServicesHKFS-Logo
  • HKFS RetirementHKRS-Logo
  • HK Alliance HKA-Logo

Overview:  The week started with news of an attack on a Saudi oil production facility, which initially sent oil prices 15% higher at the start of the week. The strike knocked out about half of Saudi Arabian crude production, disrupting global supply and escalating tensions in the Middle East. Oil prices stabilized, ending the week up about 6%. Stocks around the globe finished the week marginally lower, with the major indices down about 0.5%. Yields on the U.S. 10-year Treasury ended 0.10% lower at 1.75%, as the Fed cut rates on Wednesday to a range of 1.75%-2.00%, seeking to stimulate growth. U.S. economic data continued solid, as U.S. industrial production jumped +0.6% in August. U.S. economic data has beaten expectations recently. To wit, the Bloomberg Economic Surprise Index reached an 11-month high after existing home sales, and jobless claims each surpassed expectations. This week will be chock full of data. Investors will get reports on consumer spending, personal income, inflation data, and GDP, expecting to be 2.0% for the second quarter.

Sources: Goldman Sachs Asset Management, Bloomberg
Week Ending 09/20/19

This communication is for informational purposes only. It is not intended as investment advice or an offer or solicitation for the purchase or sale of any financial instrument.

Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. 8982402.