Weekly Financial Update - March 1, 2019
March 4, 2019
The S&P 500 traded in a narrow range last week as investors had a lot of news to digest including several notable earnings reports, ongoing trade discussions between the U.S. and China, Federal Reserve Chairman Powell’s semi-annual congressional testimony about monetary policy, a pharmaceutical industry congressional hearing on drug prices, and mixed economic data.
U.S. economic growth slowed to an annualized rate of 2.6% in the final quarter of 2018 following two quarters of growth above 3.0%. This was better than economists’ consensus estimate of 2.2%.
According to the Citi Economic Surprise Index for the United States, economic data reports have not been this disappointing relative to economists’ expectations since August 2017.
Learn more in our Weekly Financial Update.