Joseph G. Witthohn, CFA
VP of Product Development Emerald Asset Management

Good morning.

Both the Dow and S&P500 are up so far this morning … and while the Dow did not set a new record (the index is still around 300 points short) … the S&P hit a new high in anticipation of a rate cut later this week.

Even among this good news, there is a little concern … as consumer confidence was lower than expected (as there is a bit of angst over future growth prospects) and third quarter GDP estimates presently range from 1.2% (Oxford Economics) to 1.7% (Atlanta Fed and consensus) … numbers which are somewhat sluggish but, fortunately, still positive.

Other countries, by the way, are not as lucky … as the second note below points out some countries (according to Forbes) in danger of falling into recession including: the UK, China, Germany, Hong Kong, Italy … while Oxford Economics is giving a 72% chance that Canada will fall into recession in the next six months … some pretty big players, indeed.

We do have some information on the credit front … as Moody’s Analytics reports that homes with negative equity continue to decline (a good thing) … while Daily Shot … using data from the New York Federal Reserve and Equifax … reports that seriously late auto loans are near the highest level since 2011 (a bad thing). So here, the story is mixed.

Two final stories included today relate to autos and dieting … two favorite topics of mine.

It seems that automatic braking is becoming more commonplace and saving lives … during the day. Nighttime, however, is another matter entirely … so be careful as drunk jaywalkers crossing the street while staring at their iPhones are becoming greater in number. Okay, that was a bad (and failed) attempt at humor but pedestrians are getting killed at an increasing rate … causing some to wonder if American’s love of SUVs or just plain inattentiveness are to blame.

On a final note … and last story below … Good Morning America is making a big deal out of a woman who lost 200 pounds! It took her 2 years!

That’s nothing … I know a woman who got rid of 250 pounds of annoying fat much quicker than that.

She divorced him.

Have a great day,

Joseph G. Witthohn, CFA
Vice President
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905

… as of 11:36 AM today …

Quick Look at the News


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