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WaterFront News & Events
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Change is upon us. On the bright side of things, kids are going back to school and football season is just around the corner. It really feels like the world is changing in front of our eyes when you see what is going on in the news. This month we had two more mass shootings in less than 24 hours. Both of these stemming from hate for others. Is this really the world we are living in today? The better question is how do we fix such problems? Other big changes came in the markets. In just 5 days of trading, the S&P 500 lost 6% of its value at the beginning of this month. What caused this? The first of several reasons was that investors are nervous about an inverted yield curve because this can be one of the leading indicators before a recession. Then we had President Trump announce 10% tariffs on approximately $300 billion in US imports from China that are not already subject to a 25% levy starting Sept 1. Reason behind this decision was that he was frustrated by the slow pace of trade talks and that China has failed to purchase large quantities of US agricultural produces and halt the shipment of fentanyl to the US. He also accused China of currency manipulation. The last reason was that Vladimir Putin announced on Monday that due to the US leaving the Intermediate Nuclear Forces (INF) treaty with Russia, they would engage in a full scale effort to develop similar missiles if they found any evidence we were producing any land based missiles. We have been continually telling you in these newsletters for the last two years that volatility is here and we believe it will continue to be this way for a while. On the more positive side of things, the consumer is doing well and the consumer is 70% of our economy. We don't see a recession if the consumer can stay strong. With that being said, tariffs could hinder the consumer which is why we are keeping a close eye on this tariff situation.
Articles
We bring you First Trust Portfolio's Chief Economist Brian Westbury's thoughts in regards to the latest Fed Funds rate cut in our first article.
One question that we always get is "Will Social Security be around when I retire?". This month Phil Orlando, Chief Equity Strategist for Federated Funds, hits on that topic and breaks the issue down for us all.
Interesting facts
Whole Foods has enjoyed a pricing revolution since Amazon purchased the chain of grocery stores. Right before Amazon acquired the grocer in August of 2017, a cart of 106 items cost $404.08. Today the cost is $394.45, or a price cut of 2.4%.
- Bloomberg, June 13, 2019
Your dishwasher has more brain power than the computer that flew the Apollo astronauts to the Moon.
-FastCompany, June 12, 2019
Americans have received some 126 million doses of measles vaccine in the past dozen years. During that time, 284 people filed claims that they thought they were harmed by those vaccines- about half of those claims were dismissed.
-The New York Times, June 18, 2019
After five years of cannabis legalization, Colorado’s Department of Revenue said it has collected $1.02 billion in taxes on $6.5 billion of sold product.
-The Denver Post, June 12, 2019
It’s a myth that millennials don’t drive. Car ownership for Americans under the age of 35 is 82.6%.
-Barron's, May 3, 2019
WeWork lost $219,000 every hour of every day in the first quarter of 2019. The office-space manager is hemorrhaging cash, racking up a $3 billion deficit since 2019. Nonetheless, it is being valued at $47 billion ahead of its public debut later this year.
-Business Insider, July 3, 2019
Events
WaterFront's Ladies' Night! - Thursday, October 3rd, 2019 6:00-8:00pm
WaterFront Offices
This is an amazing night! Please plan to join us for shopping, drinks, and socializing. With close to 40 vendors, this event will provide you
an opportunity to spend time with your friends, and get ahead on some holiday shopping. Door prizes will also be given away!
Please RSVP to Savannah, savannah@waterfrontadvisors.com
Thank you!
Your WaterFront Team
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