Econ Advisory March 21, 2017
Portfolio Performance
Portfolio Highlights Alphabet (GOOG) criticized for showing ads alongside offensive content (-2.1%) today 3M (MMM) buys Scott Safety from Johnson and Johnson for $2 billion (0.8%) on Friday Chevron (CVX) unable to sell Chinese oilfields for asking price of $1 billion (0.35%) today
Econ / Market Summary 1. Fed raises rates for the third time since 2015 Raised target rate on March 15 by 25 bps to the 0.75-1.0 range Rate rise driven by low unemployment (4.5%), inflation approaching 2% target 2. GOP Health Care bill subject of heated debate Healthcare sector down (-0.8%) today Bill moves to House floor on Thursday but is not anticipated to make it to Senate 3. Tuesday, March 21 (Today) worst day for US stocks in 2017 Nasdaq (-1.8%), S&P 500 (-1.2%), Dow (-1.14%) Decline due to uncertainty regarding timeline of proposed tax cuts, healthcare debate
Upcoming Events SPRING BREAK Goldman Sachs coming to campus April 5 SIC Events… - Industry group meetings