Weekly Market Outlook
For Institutional Investors Only
April 23, 2019
Glenn Williams Jr; CMT
215.280.8308
Glenn Williams Jr LLC
glenn@glennwilliamsjr.com
Weekly Update:
· Weekly summary of portfolio performance is outlined on pages 9, 10, and 11. The strongest performing stock was BZUN, up 7.62%, followed by PI, which rose 7.34% on the week. The laggard was ALXN, which declined 6.20%.
· On a macro level, and as a follow up to last week, the trade deficit for the month of February narrowed to $49.4 billion, versus consensus expectations for a widening to $53.5 billion. All else being equal, a narrowing in the trade deficit should be a positive for GDP calculations, which in my opinion would serve as a positive for broader markets.
The Fed released its’ beige book on the 17th, stating that the economy grew at a “slight to moderate pace” in March and April, but also implied “significant uncertainties” and overall risks to the economy.