We had a beautiful weekend across much of Michigan! Father’s Day is this Sunday. If you and pops are golfers, get those tee times booked quick!
Markets were higher last week after a better than expected May jobs report and ahead of talks between the US and China. Both countries are holding trade discussions today in London after President Trump and President Xi had a phone call last week. We get some key inflation data this week with CPI Wednesday and PPI on Thursday. From a momentum standpoint, I think any developments out of London could cause a knee jerk reaction in the markets. The Federal Reserve interest rate meeting takes place next week and while traders are not anticipating a change, any clues as to the path forward will be heavily scrutinized. I think we will see a lot of back and forth in the market until we begin receiving Q2 earnings figures next month. Between now and then I see any trims in this market as a buying opportunity. Please continue to reach out with your questions/comments.
Attached, please find this week’s Market Strategy Radar Screen Report from John Stoltzfus, Chief Investment Strategist of Oppenheimer Asset Management. A look at our S&P 500 price target and possible adjustments, are among the topics.
Have a great week and Happy Father’s Day to all the dads out there!