Inflation is in the Eye of the Beholder

Inflation is in the Eye of the Beholder

This week, the U.S. Bureau of Labor and Statistics (BLS) released their monthly measurement of inflation: Consumer Price Index (CPI), annualized 2.7 percent, was down 0.2 percent from the month prior.

The Fear of an Inverted Yield Curve

The Fear of an Inverted Yield Curve

Brad Houle, CFA, provides context for inverted yield curve concerns.

Waning Days of Summer

Waning Days of Summer

As kids prepare to go back to school and families make plans for that last long weekend of summer vacation, investors enjoyed new highs for blue-chip stocks this week. Despite the ongoing uncertainty of trade policy, stocks continue to ascend a wall of worry, having digested another quarter of robust earnings growth in part the result of faster U.S. economic growth.

Jones Quoted in Portland Business Journal Article

Jones Quoted in Portland Business Journal Article

Peter Jones, CFA, shares insights on Ferguson Wellman’s strategy for clients, Global Sustainable Investing.

The Long Run

The Long Run

Earlier this week, The Eagles’ Greatest Hits surpassed Michael Jackson’s Thriller as the best-selling album of all time. I would argue that “greatest hits” albums should be excluded, but that’s neither here nor there. Also, this month, the S&P 500 set the record for the longest streak without a 20 percent decline, or bull market. This trend started in March of 2009 and has lasted over 3500 days. The previous feat was the 1990s bull market which finally ended with the burst of the Internet Bubble in 2001.

Tariff and Turkey Talk

Tariff and Turkey Talk

A currency crisis in Turkey and continued trade uncertainty resulted in a volatile week for equities. International stocks, specifically emerging markets, started selling off. U.S. commodities were also weak. This was offset by positive news on the China trade front.

Main Street Over Wall Street?

Main Street Over Wall Street?

The current economic expansion has been punctuated by record profits for large corporations, and slow job and wage growth for U.S. consumers.

Ferguson Wellman Article in Portland Business Journal

Ferguson Wellman Article in Portland Business Journal

Matt Kish, banking and finance reporter for Portland Business Journal, spent some time with us in recent weeks to learn more about our fourth ownership transition process that began the end of 2017. We also had the opportunity to share with Matt that Ralph Cole, CFA, joined our board of directors this year. On June 30, Mark Kralj became director emeritus and we are delighted that he will continue to be involved with our firm for the next year until his retirement.

Shake-Ups

Shake-Ups

News broke this week that the Trump administration would consider bypassing congressional legislation to change the capital gains taxes rules to index for inflation. The current strategy that is being floated is to use the Treasury department and IRS rather than traditional legislation to redefine capital gains to include only returns in excess of inflation.

What Matters for Stocks

What Matters for Stocks

If you break the stock market down into its most basic elements only two things matter: earnings of companies and what investors are willing to pay for a dollar of earnings. This week, earnings season for the second quarter of 2018 was in full swing and investors are digesting the news.

Shifting into Gear

Shifting into Gear

Markets were inundated with a barrage of political, economic and stock-specific news this week, challenging investors to stay on top of it all.

Path to Productivity

Path to Productivity

Since the Tax Cuts and Jobs Act was signed into law on December 22, 2017, pundits and economists have continued to debate if companies would increase their capital expenditures due to the 100-percent-expensing provision in the new tax code.

2018 Market Letter Q3

2018 Market Letter Q3

2018 Market Letter Q3

Good News on the Jobs Front

Good News on the Jobs Front

Expectations and events often explain market movement. With earnings season underway next week, every earnings report will be judged on whether those expectations were exceeded, met or missed. Perhaps the most important aspect is if future growth outlook meets expectations.

Stressed Out

Stressed Out

Over the last month, financials and industrials have been the two worst performing sectors in the S&P 500. While the industrials sector can be explained due to the strengthening U.S. dollar and trade rhetoric, financials have been more perplexing.

Short Stories

Short Stories

Trade concerns weighed on stocks this week resulting in a 1 percent decline for the S&P 500, and the Dow Jones Industrial Average falling close to 2 percent. Large-cap industrial stocks have taken the brunt of the pain due to their exposure to export markets, as well as increasing steel and aluminum costs due to recent tariffs.

Cole Joins Ferguson Wellman’s Board of Directors

Cole Joins Ferguson Wellman’s Board of Directors

Ralph Cole, CFA, is Ferguson Wellman’s new director. He joins the current board that includes Dean Dordevic, Steve Holwerda, CFA, George Hosfield, CFA and Jim Rudd.

Action and Reaction

Action and Reaction

With just a couple of weeks left to go in the second quarter, investors wanting for a lack of earnings news found plenty of economic reports and central bank meetings to freshen up their views of the macroeconomy.

Resources Worth Routing: The GDPR Effect on Your Inbox

Resources Worth Routing: The GDPR Effect on Your Inbox

GDPR became law in the European Union on May 25.