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Ironwood Recap – Week of October 7th, 2019

This was the first positive week in the stock market in several weeks.   The S+P logged just over a half a percent gain and the Dow Jones gained almost 1%.  The bond market fell as the yield on the 10 year treasury rose by almost a quarter percent to 1.75%

Most of the economic news that came in this week was in line with expectations, doing little to move the market.  The big news was the lower than expected core inflation rate.  This paves the way for more Fed rate cuts if things slow.  The market has begun to price in another rate cut soon.  Additionally we got a positive surprise with consumer confidence being much higher than expected, and hopes of a China deal.

Next week we get some retail sales data as well as housing starts.  More importantly, earnings season kicks off in earnest with about 170 companies reporting earnings next week, giving us a better view of corporate profitability over the last three months and also giving guidance on future profits.