Heritage Financial Advisory

Welcome to the Heritage Market Minute for Monday August 9th! Markets kick off the week on a mixed note as the jobs report from last Friday came in well above expectations. Earnings season for Q2 is starting to wind down and the results have been strong. August tends to be a seasonally weak month, but that doesn't mean it's time to run for the exits. Join Mike Desepoli as he discusses.

Welcome to the Heritage Market Minute for Monday August 2nd! Markets are looking to start the month of August on a positive note, as the S&P500 looks to build on a streak of 6 consecutive months of gains. Earnings reports continue to roll in, and we will get an update on the labor markets later this week. The delta variant continues to dominate the news, but the markets seem unbothered for now. Join Mike Desepoli as he discusses. 

The major markets returned to its record setting ways as the domestic markets closed higher once again last week. The Nasdaq, Dow Jones, S&P 500, and even the MSCI World Index saw new all-time highs by the end of the week. This left the Emerging Market index as the notable exception sitting in negative territory for the week and almost flat on the year.

The turnabout was surprising given how the week began. The S&P 500 closed with a loss over 1.5% on Monday. This marked the largest daily loss since May. However, the turnabout was quick with every other day last week closing higher.

The gains were fairly consistent as only Utilities and Energy closed lower. Communication Services led the pack with the gain of three and a quarter percent. This was followed closely by Consumer Discretionary and Information Technology.

But the gains were not limited to the equity markets. Bonds managed to add to the positive performance with gains in the Bloomberg Barclays US Aggregate Bond Index. This takes the Year-to-Date return to a slight loss of three quarters of a percent.

In Economic News, Thursday’s Weekly Initial Jobless Claims rose unexpectedly to 419,000 after testing a post-pandemic era low of 368,000 the prior week. Digging deeper, we see that according to the Department of Labor, the Total Continued Claimed Filed for UI Benefits in All Programs dropped by over 1.26 million as of July 3rd. 

This week, the markets will be looking at a number of housing related reports early in the week followed by the midweek FOMC Meeting which will conclude with a Press conference by Fed Chair Jerome Powell. Finally, the week will end with the release of the Core Inflation report   and the University of Michigan Consumer Sentiment Index.

Welcome to the Heritage Market Minute for Monday July 26th! Markets are higher to start the week as they shake off the Delta variant fears that plagued the market last week. This is a big week for earnings season as many large market components will report their 2nd quarter results. Tune in to here Mike's take on the action this week. Have a great day!

Welcome to the Heritage Market Outlook for the 3rd quarter of 2021. We hope this email finds you enjoying yourself this summer. As part of our process, we are back with another quarterly update to bring you up to speed on our view of the markets, the economy, strategic changes we are making, and our outlook for Q3.

Welcome to the Heritage Market Outlook for the 3rd quarter of 2021. We hope this email finds you enjoying yourself this summer. As part of our process, we are back with another quarterly update to bring you up to speed on our view of the markets, the economy, strategic changes we are making, and our outlook for Q3.

Welcome to the Heritage Market Minute for Monday July 19th! Markets are sharply lower as investors are spooked that the delta variant will throw off the economic recovery. A market correction is healthy and very normal after the big rally of the last 2 months, Mike discusses this and more in the market minute.

Welcome to the Heritage Market Minute for Monday July 12th! Markets kick off the week at all time highs after making fresh records in Friday's market session. Virgin Galactic completed a successful launch into space this weekend as the race for space tourism heats up. Earnings season for the 2nd quarter kicks off this week as the big banks will be the first to report. Investor sentiment continues to skew negative as many investors are fearful of the current rally in stocks. Tune in to hear what we think this all means for the market in the weeks and months ahead. 

Welcome to the Heritage Market Minute for Tuesday July 6th! It's a shortened trading week but no shortage of market movers. This mornings service sector reading came in a little weak, but it's not time to sound the alarm just yet. Travel trends continue to pick up as Americans feel more comfortable getting back into the swing of things. Later this week, Richard Branson and Jeff Bezos (separately) will become the first civilians to travel into space as the race for private space travel heats up. Have a great day!

Welcome to the Heritage Market Pulse for Friday July 2nd! The big news of the day is the June jobs report which showed an increase of 850,000 jobs versus expectations of 706,000. Markets are closed on Monday in observance of 4th of July. Have a great weekend!