Real Wages—All Employees

After many years of stagnant real wage growth (adjusted for inflation), the U.S. labor market saw improvement in wages paid. This was driven by tight labor market conditions and rising minimum wage levels in various regions of the country.

U.S. & World Equity Indexes; 1/30/19; YTD Return S&P 500; 2,640; 5.30% Dow Jones Industrials; 24,579; 5.40% Nasdaq Composite; 7,028; 5.90% Shanghai Composite (China); 2,594; 4.00% S&P BSE Sensex (India); 35,592; -1.30% Nikkei Stock Avg (Japan); 20,664; 3.20% CAC 40 (France); 4,928; 4.20% DAX (Germany); 11,218; 6.20% FTSE 100 (U.K.); 6,833; 1.60%
Selected Interest Rates; 1/30/19; 12/31/18 15-Year Mortgage; 3.88%; 4.01% 30-Year Mortgage; 4.45%; 4.55% 5-Year Treasury Bond; 45.00%; 2.51% 10-Year Treasury Bond; 2.55%; 2.69% 30-Year Treasury Bond; 3.04%; 3.02%
Key Economic Statistics; Most Recent; Prior Month National Producer Price Index; -0.20%; 0.10% Consumer Price Index; -0.10%; 0.00% Unemployment Rate; 3.90%; 3.70% ISM Manufacturing Index; 54.10; 59.30 ISM Services Index; 57.60; 60.70 Change in Non-Farm Payroll Emp.; 312,000; 155,000 New York State Consumer Price Index - NY, NJ, CT; −0.20%; –0.20% Unemployment Rate; 3.90%; 3.90% NYS Index of Coincident Indicators; 5.80%; 5.80%

CPI—12-Month Change

The rather quiescent inflation data gives the Federal Reserve some perceived discretion to tread lightly in its program to normalize short-term interest rates. The markets continue to anticipate additional rate increases in 2019.

Equity Market Statistics; Most Recent; Prior Month Dow Jones Industrials; 1/30/19; 12/31/18 Dividend Yield; 2.54%; 2.28% Price/Earnings (12 Mth Trailing); 18.89; 20.85 Price/Earnings (Projected); 14.64; 16.10 S&P 500 Index; 1/30/19; 12/31/18 Dividend Yield; 2.23%; 1.99% Price/Earnings (12 Mth Trailing); 22.35; 22.19 Price/Earnings (Projected); 15.55; 16.32

The information herein was obtained from various sources believed to be accurate; however, Forté Capital does not guarantee its accuracy or completeness. This report was prepared for general information purposes only. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities, options, or futures contracts. Forté Capital’s Proprietary Market Risk Barometer is a summary of 30 indicators and is copyrighted by Forté Capital LLC. For further information, visit www.fortecapital.com, send a message to [email protected], or call 866-586-8100 and ask for David W. Henion, CPA, or Larry H. Rabinowitz, CPA/PFS.