Disclosures
LHS/RHS: Left-hand side/Right-hand side axes. The DJIA is an unmanaged index of 30 widely held stocks. The S&P 500 is an unmanaged index of 500 widely held stocks. The NASDAQ 100 Index is a stock market index that includes 100 of the largest, most actively traded, non-financial companies listed on the Nasdaq Stock Market. US government bonds and Treasurys are guaranteed by the US government and, if held to maturity, generally offer a fixed rate of return and guaranteed principal value. U.S. government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Sector investments are companies engaged in business related to a specific economic sector and are presented herein for illustrative purposes only and should not be considered as the sole basis for an investment decision. Sectors are subject to fierce competition and their products and services may be subject to rapid obsolescence. There are additional risks associated with investing in an individual sector, including limited diversification. The US Dollar Index is a measure of the value of the U.S. dollar against six other foreign currencies. The currency pair EUR/USD indicates how many U.S. dollars (the quote currency) are needed to purchase one euro (the base currency). WTI crude oil is a specific grade of crude oil and one of the main three benchmarks in oil pricing, along with Brent and Dubai Crude. The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The Conference Board Leading Economic Index (LEI) is an economic leading indicator intended to forecast future economic activity Indexes are available for the U.S. and various geographic areas. The Redbook Index is a sales-weighted of year-over-year same-store sales growth in a sample of large US general merchandise retailers representing about 9,000 stores. The Trade Balance is the net sum of a country's exports and imports of goods without taking into account all financial transfers, investments and other financial components. The Manheim Used Vehicle Value Index (MUVVI), a measure of the US used vehicle market, is published by Manheim, a company that offers vehicle remarketing services to dealerships and other automotive businesses. The Nikkei 225 is a price-weighted index of the 225 largest companies in Japan. Retail sales are the sale of consumer goods or services to consumers for personal use. Retail sales can include in-store sales, online sales, direct sales, or sales via mail. Jobless Claims are the number of people who file weekly for unemployment insurance benefits. The Chicago Fed National Activity Index (CFNAI) is a monthly index of U.S. economic activity constructed to summarize variation in 85 data series used to gauge overall economic activity and inflationary pressure. The Purchasing Managers' Index (PMI) is an index of the prevailing direction of economic trends in the manufacturing and service sectors (providers: ISM, Markit, etc.). The Existing Home Sales Index is a monthly report that measures the prices and sales volume of existing single-family homes, condos, and co-ops. The Commodity Futures Trading Commission (CFTC) is an independent agency of the US government created in 1974 that regulates the U.S. derivatives markets, which includes futures, swaps, and certain kinds of options. The New Home Sales Index is an economic indicator that measures sales of newly built homes. The Dallas Fed Manufacturing Index is a monthly index that measures the performance of the Texas manufacturing sector and is based on a survey of over 100 large manufacturing companies in the region. Gross domestic product (GDP) is the monetary value of all final goods and services produced within a country over a specific period of time. Investing in Small-Cap Stocks generally involves greater risks, and therefore, may not be appropriate for every investor. The Consumer Confidence Index (CCI) is a survey that measures how optimistic consumers are about their financial situation and the economy. The Bloomberg Commodity Index (BCOM) is a financial benchmark that tracks the price movements of commodity futures contracts. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index measures the change in the value of the U.S. residential housing market by tracking the purchase prices of single-family homes. The Russell 2000 index is a market index that tracks the performance of around 2,000 small-cap companies in the US. The Federal Housing Finance Agency's (FHFA) House Price Index (HPI) is a quarterly index that measures changes in the average price of single-family homes. The Richmond Manufacturing Index rates the relative level of business conditions including shipments, new orders, and employment. The New Tenant Rent Index is a research index series that uses data sourced from the CPI Housing Survey. The Russell 1000 Index is a stock market index that measures the performance of the largest US companies by market capitalization. The JOLTS report or Job Openings and Labor Turnover Survey is a report from the Bureau of Labor Statistics measuring employment, layoffs, job openings, and quits in the United States economy. The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients.
All expressions of opinion reflect the judgment of the author(s) and the Investment Strategy Committee and are subject to change. This information should not be construed as a recommendation. Content provided herein is for informational purposes only. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. Past performance is not a guarantee of future results. Indices and peer groups are not available for direct investment. Any investor who attempts to mimic the performance of an index or peer group would incur fees and expenses that would reduce returns. Economic and market conditions are subject to change. Investing involves risks including the possible loss of capital. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.
Data Source | FactSet as of 3/6/2024
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