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dmlmenterprises
Sep 10, 2022
In Fund Management
U.S. stocks tumbled Friday, with the Dow Jones Industrial Average closing down more than 1000 points for its worst daily percentage drop since May, after Federal Reserve Chair Jerome Powell said the central bank will continue its battle against inflation “until the job is done” of getting the cost of living back to its 2% target. - Marketwatch MAJOR ECONOMIC NEWS UPDATES Ahead of Powell’s remarks, a batch of fresh economic data was released, including a reading on the Fed’s preferred inflation gauge, the personal-consumption-expenditures index. Headline PCE dropped 0.1% for July and to 6.3% from 6.8% annually. Core PCE, which excludes food and energy prices and is closely watched by Fed policy makers, rose 0.1% on a one-month basis but decelerated by a slightly bigger-than-expected amount to a 4.6% year-over-year rate, from 4.8%. Personal incomes climbed 0.2% in July, while consumer spending rose 0.1%, below forecast. The U.S. trade in goods deficit sank 9.7% in July, while inventories rose. As Powell spoke, investors also received an update from the University of Michigan’s survey of consumer sentiment, which showed that consumers’ outlook on the economy improved in August, while medium- and long-term inflation expectations continued to moderate. - Marketwatch.com BOURNE CAPITAL MANAGEMENT GAINS 1.28% RETURNS LAST WEEK Our portfolio, which is focused on the S&P 500, has celebrated gains of 1.28% gains last week. Although the month completes on Wednesday of this week, so far we are up 4.74% on the month. Our minimum goal is always a stable 5% gain per month which would allow us to accomplish 60% returns on the year. We have been very successful with these conservative targets utilizing our aggressive approach. Some monthly returns are higher than the average, this month is looking good to end right at our average. So even with a 4% decline on friday on the S&P 500, we were able to gain 1.01% in our portfolios to close out the week. That means the majority of our week's returns were gained on the worse day the market has had since June 13th! Check out who took biggest losses on Friday: Feel free to contact us for more information, spreadsheets and access to our live trading room. Enjoy your weekend.
S&P 500 DROPS 3.4% AND FINISHED WITH ITS BIGGEST PERCENTAGE DECLINE SINCE JUNE 13TH! content media
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dmlmenterprises
Sep 10, 2022
In Fund Management
Stocks rose across the board Friday, with the S&P 500 booking a fourth straight weekly gain. The Dow Jones Industrial Average DJIA, +1.2 7% advanced more than 420 points, or 1.3%, on Friday and the Nasdaq Composite COMP, +2.09% rose 2.1%. The S&P 500 attempted to complete the retracement in Thursday’s session, when it traded as high as 4,257.91, but gave up gains to end at 4,207.27. - Marketwatch MAJOR ECONOMIC NEWS UPDATES Inflation slowed in July, according to Department of Labor data released on Wednesday. The consumer price index rose 8.5% in July from a year ago. That was lower than both the 8.7% increase in prices forecast by economists and the 9.1% reading in June. With markets likely to be volatile for some time as the effect of interest-rate hikes and inflation works its way through the system, bet on two things: The Fed will continue to be aggressive, and profits will decelerate. Speculative names may be tempting following any dose of good news, but investors will be better off sticking with defensive sectors that offer stable growth, such as consumer staples, utilities, and healthcare. Those sectors may also see volatility, but demand won’t dwindle dramatically in a downturn. -Marketwatch BOURNE CAPITAL MANAGEMENT GAINS 3.4% RETURNS THIS WEEK Our portfolio, which is focused on the S&P 500, has celebrated gains of 3.4% on the week. Which puts us on pace to beat our average of 5% on the month. While most individual investors have to deal with volatility and -10.20% returns on the year, our limited partners and investors are thriving and on pace to meet monthly/quarterly/yearly returns. We appreciate your support. Feel free to contact us for more information, spreadsheets and access to our live trading room. Enjoy your weekend.
FOURTH STRAIGHT WEEK OF GAINS FOR THE STOCK MARKET! content media
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