Our Thought of the Week: September 11, 2017

Thought of the week:
Economic Impact: In the wake of back to back natural disasters (Hurricanes Harvey and Irma), our thoughts and prayers continue to be first and foremost for the safety of those affected. That said, many are wondering what, if any, impact these storms will have on our economy. In analyzing the four previous natural disasters over the past 15 years, history suggests that we should expect a short term rise in jobless claims in the affected areas. We don’t believe this will spill over into the broad US economy. Rising gas prices may have an impact on the consumer in the short run, however, there are other areas such as insurance claims that could offset this. In short, we believe the economic impact should be short lived. Uncertainty like this demonstrates why proper diversification in portfolios is so essential.

What we’re reading:

Stocks Open Higher as Irma Fears Subside (CNBC)
Get Ready for a Much More Powerful Apple TV (Techcrunch)
Just How Big was the Equifax Breach? (The Atlantic)
Oil Weakens on Demand Fears (Reuters)

Economic Calendar:

Week in review:
• Trade deficit up to -$43.7B
• Jobless claims at +298K
• Nonfarm productivity up 1.5% qtr/qtr
• Factory orders down -3.3% mo/mo

Week ahead:
• CPI & PPI
• Retail sales
• Jobless claims
• Preliminary consumer sentiment

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