W. Edward Newton Jr., CFP (R) | 13850 Ballantyne Corporate Place, Suite 500 | Charlotte, NC 28277 | 704-552-8689

 

Down Week, New China Tariffs, Fed Cuts Rates 1/4 Pt, 164,000 New July Jobs, Wages up 3.2%
for Week Ending 8/2/2019

 

Markets pulled back sharply this week despite a 1/4 point drop in interest rates by the Fed. For the week the Dow lost 707 pts or -2.6%, the S&P fell 94 pts or -3.14%, while the NASDAQ slid 326 pts or -3.92%. More China tariffs sent the markets down Thur as new jobs for July came in at 164,000 & wages increased 3.2% year over year. The new jobs set a record high of 163.4 million in the US labor force while unemployment held at 3.7%. Have a good weekend! Ed

 



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Regards, W. Edward Newton Jr., CFP (R)

Certified Financial Planner

 

 

 

 

W. Edward Newton Jr., CFP | Certified Financial Planner

13850 Ballantyne Corporate Place, Suite 500 Charlotte, North Carolina 28277 Phone: (704) 552-8689 | Email: ed@newtonwealthmanagement.com