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Q1 2020 | Capital Markets Outlook
We favor reducing risk as we look for proof that earnings can support asset valuations.
- The Census Bureau reported that for the year 2019, the trade deficit narrowed.
- Construction spending fell 0.2% in December, according to the Census Bureau.
- In its final report for December, the Census Bureau noted that factory orders increased 1.8% and durable goods orders jumped 2.4%.
- The Institute for Supply Management noted that manufacturing expanded in January.
- Initial jobless claims declined by 15,000 to 202,000 in the week ended February 1, 2020, according to the Labor Department.
- The United States added 225,000 jobs and the unemployment rate rose to 3.6% in January from 3.5% in December, the Bureau of Labor Statistics reported.
- As of January 31, 2020, of the 227 S&P 500 Index companies reporting fourth-quarter earnings, 152 beat analysts’ estimates, according to S&P Dow Jones Indices.
- Business sentiment improved among manufacturers in January, according to the Institute for Supply Management.