Home

The rally in U.S. equities stalled last week. After six straight weeks of gains, the S&P 500^® Index slipped 0.3 percent, hardly cause for worry, and rather more indicative of some fatigue in the absence of market moving news. There was nothing much new on the trade front, although it is worth noting that another round of tariffs is scheduled for December 15, creating an unofficial deadline for getting a phase one deal done. On the other hand, the economic data was generally positive, just not enough to elicit much reaction. Perhaps the most encouraging reports were the flash Purchasing Managers' Indices (PMIs), which were stronger than anticipated for both manufacturing and services. The housing data was mostly in-line with estimates, while consumer sentiment was steady. Disappointingly, the index of leading economic indicators fell for the third straight month in October, for the first time since early 2016.

U.S. equities made it six straight weeks of higher prices in a rally that has now produced a gain of 8 percent and established one new high after another. The S&P 500 is now higher on the year by 24.5 percent. Should it end the year at its present level, it would be the best yearly performance for the index since a 30 percent gain in 2013.

Minneapolis – November 14, 2019 – Today Ameriprise Financial, Inc. (NYSE: AMP) announced that First American Financial, a team of experienced financial advisors, has joined its franchise channel in Marlton, N.J. from LPL Financial. Advisors Bill Eldridge and Don Delmonte, CFP^® lead the team, which also includes client service associates Denise Cherry, Lyn McCracken, and Sandy Foresta. The team manages approximately $158 million in assets and joined Ameriprise from LPL Financial. Regional vice president Tom North and franchise field vice president Scott Cohen support the team.