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Compass Financial Advisors

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 The yield on the benchmark U.S. 10-year Treasury note topped 2.8% last week, a four-year high, after the jobs report was released on Friday, ending a week that saw a selloff in the bond market. The report showed average hourly earnings for private-sector workers rose 2.9% in January over a year earlier while the unemployment rate held at 4.1%. The growth in wages, which was the strongest year-over-year gain since 2009, stoked higher expectations for inflation and prompted the selloff in U.S. government bonds on Friday.

Bob Carey, Chief Market Strategist at First Trust Advisors L.P., discusses the latest developments in the market and takes a look ahead. 

 The S&P 500 had a -3.82% return last week, the worst weekly return since January 2016. While equity returns were poor last week, the index still has a gain of over 3.4% for the year. Despite strong payroll and wage growth numbers, equity markets fell as some earnings announcements disappointed and the odds of a Fed rate hike grew. Earnings season was in full swing last week with 118 components of the S&P 500 announcing quarterly results. Apple Inc. saw its shares slide over 6% after the company announced lukewarm iPhone X sales.

 The yield on the benchmark U.S. 10-year Treasury note topped 2.8% last week, a four-year high, after the jobs report was released on Friday, ending a week that saw a selloff in the bond market. The report showed average hourly earnings for private-sector workers rose 2.9% in January over a year earlier while the unemployment rate held at 4.1%. The growth in wages, which was the strongest year-over-year gain since 2009, stoked higher expectations for inflation and prompted the selloff in U.S. government bonds on Friday.

 View from the Observation Deck  

Bob Carey, Chief Market Strategist at First Trust Advisors L.P., discusses the latest developments in the market and takes a look ahead. 

 The S&P is off to a strong start in 2018 as the index has returned over 7.5% since the beginning of the new year. Information technology companies, such as large caps Microsoft Corp and Alphabet Inc, have been driving the market. These two companies along with Facebook Inc will be closely watched next week as all three will release quarterly results. Since the beginning of earnings season, 117 companies have reported and 91 have beat analyst estimates. Next week 109 names in the S&P 500 are slated to report.

 Last Tuesday, President Donald Trump signed legislation to end the government shutdown. The three-week funding agreement allows time for continued talks surrounding key topics such as immigration. As expected, the Bank of Japan maintained its target rate around zero as inflation remains sluggish. The European Central Bank also left monetary policy unchanged and plans to leave rates untouched past the end of the asset-purchase program, which is expected to end in September. On Friday, yields rose despite fourth quarter GDP being reported at 2.6%, below the consensus estimate of 3.0%.

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Securities offered through Harbour Investments, Inc.,
member FINRA/SIPC. http://www.finra.org/
http://www.sipc.org/about-sipc

Investment Advisory Services offered through
Compass Financial Advisors, LLC,
a registered Advisor. 
Compass Financial Advisors, LLC &
Harbour Investments, Inc.
are separate entities.

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