The Commerce Department announced this morning that the first quarter slowdown was less than originally thought. The Department stated the Gross Domestic Product (GDP), which is the broadest measure of goods and services produced in the U.S., expanded at a 0.8% annual rate in the first quarter. This is higher than the estimate announced last month of 0.5% but was lower than the average economist expectation of a 0.9% reading. Today’s report also offered the first official estimate of corporate profits for the first quarter (which includes non-publicly traded companies). After-tax profits are estimated to have risen at a 1.9% rate from the fourth quarter after seeing two straight quarterly decreases. Continue reading
Monthly Archives: May 2016
The Federal Open Market Committee (FOMC) released its meeting minutes on Wednesday and were more “hawkish” than expected. Hawkish statements lean towards rate hikes whereas dovish statements are more accommodative and against rate hikes. The committee noted that international risks have decreased and that, if the economy continues to improve, a June rate hike remains on the table. This was a bit of a shock the market, which saw the Dow drop 180 points before recovering and finishing the day nearly flat. Continue reading
We are nearing the end of earnings season, as 87% of companies in the S&P 500 have reported their quarterly earnings. Of those, 71% have reported earnings above the average analyst estimate while 53% have reported revenues higher than the average analyst estimate. To date, the blended earnings for the S&P 500 have declined 7.1% year-over-year. As expected, the energy sector is the biggest “contributor” to this decline. Earnings have declined 107% for the overall energy sector as aggregate earnings swung to a loss of $932 million (vs. a positive $12.9 billion in earnings last year). Excluding the energy sector, the S&P 500 earnings would have been a -1.9% vs. the current 7.1% decline. Continue reading
Please join us in welcoming TINA WOLK-HEFNER to the Paradigm Financial Advisors team in the newly created position as CLIENT SERVICE COORDINATOR.
Jackie will be training Tina over the next few weeks prior to her official retirement date of May 13th. Tina will be responsible for Jackie’s previous responsibilities of setting appointments and coordinating all the scheduling for the PFA Wealth Management team. She will also expand her role into working on client service functions such as completing new account paperwork, processing periodic distributions, account transfers, assisting clients in accessing their accounts online. Continue reading
As of this morning, 62% of companies in the S&P 500 have reported their quarterly earnings. Of those, 74% have reported earnings above the mean analyst estimate while 55% have reported revenues in excess of the average analyst estimate. Below are some highlights from corporate earnings releases this week: Continue reading