Winthrop Partners Weekly Update 10-1-18
Rising interest rates and ramped-up trade wars put a damper on stocks last week. While not unanticipated, the Fed raised the federal funds target rate 25 basis points and intimated that another hike is likely for December. On the trade front, the United States imposed tariffs of 10% on $200 billion worth of Chinese goods, prompting the Chinese government to threaten tariffs on $60 billion of U.S. imports. As was the case the prior week, the benchmark indexes listed here ended last week with mixed returns. The tech-heavy Nasdaq posted solid gains while the remaining indexes suffered losses, led by the Dow and Global Dow, each of which fell more than 1.0%. Read More…Winthrop Partners Weekly Update 10-1-18
Thomas Saunders is the Managing Partner of Winthrop Partners. Prior to founding Winthrop Partners, Tom was Senior Vice President at what is now JP Morgan. His career includes senior and executive roles at Brown Brothers Harriman and First Niagara Bank, a top 25 Bank. Click here to contact Thomas Saunders about your investment and planning requirements.