November 19, 2019
WHAT’S HAPPENING AROUND HERE
Arab Historic Village transforms into a winter wonderland complete with Santa’s Toy Shop, elves, and Santa himself. Children can sit in Santa’s lap and have their photo taken, decorate a cookie or write a letter to Santa. Children can also take home Reindeer food, made in the old Grist Mill. Live music each night at the Rice Church, located in the village. Each Friday and Saturday, 6-9 pm from November 22nd – December 21st. Cost: $5 per person, $20 for families of 4+. Children 2 and under are free.
HSO presents Beethoven 9 on Friday, November 22nd from 7:30-8:30 pm at the Mark C. Smith Concert Hall. Perhaps the most monumental, groundbreaking work of classical music at the time of its 1824 premiere, Beethoven’s “Choral” Symphony No. 9 continues to thrill audiences with its broad emotional sweep and radiant finale, a setting of Schiller’s “Ode to Joy.” It is paired with the lighthearted, mischievous Symphony No. 9 of Shostakovich.
ECONOMY AND EQUITY MARKETS
Longest Bull Market in History Also the Best
The current record-long market run is also the best performing bull market ever, returning 468% for the S&P 500 as of Nov. 1. The boom that began in March 2009 appears to be maintaining its momentum, as the index sits near its all-time high despite the ongoing trade war between the U.S. and China. The combination of easy monetary policy and lower taxes has provided the market a significant boost through much of 2019.
Fed Chair: Current Expansion Appears Sustainable
Federal Reserve (Fed) Chair Jerome Powell views the U.S. economic trajectory as sustainable despite the trade war, slowing business investment, and economic weakness abroad. Powell also testified the central bank does not foresee any additional interest rate reductions unless the economic outlook materially changes. The Fed has cut rates three times in 2019.
NEWS AND TRENDS
In the Market for a Football Team – Amazon founder Jeff Bezos wants to add an NFL franchise to his gilded portfolio, said Jason La Canfora in CBSSports.com. The world’s richest man “has become close with several owners,” and “has strong support within the league to eventually join their ranks.” While there are no teams now on the market, Paul Allen, owner of the Seattle Seahawks in Amazon’s home city, died last year, and his team will be sold. The Carolina Panthers were sold for a record $2.2 billion in May 2018.
Unreal Returns – Hedge fund manager Jim Simons’ Medallion Fund has generated annual returns of 39 percent after fees since 1988, with only one annual loss—and only three monthly losses between 2001 and 2010.
An Expensive Accident – A New Jersey country club is suing a waiter who spilled red wine on a woman’s $30,000 Hermès Kelly bag. The woman had sued the Alpine Country Club, where members pay $19,000 annually, for the price of the since-discontinued pink clutch.
Tuesday: Housing Starts
Thursday: Initial Jobless Claims
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QUOTE OF THE WEEK
“If you cannot do great things, do small things in a great way.” Napoleon Hill
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The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks.
The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general.
The Nasdaq Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System.
Yahoo! Finance is the source for any reference to the performance of an index between two specific periods.
*Economy and Equity Markets…(Source: CNBC, Reuters)
*In the Market for a Football Team…(Source: CBS Sports)
*Unreal Returns…(Source: Bloomberg Business week)
*An Expensive Accident…(Source: The Washington Post)