1. Economic Advisory
May 7, 2018
Jigar Bhakta

2. Portfolio Performance

3. Portfolio Highlights
European Commission approved UTX’s $30B takeover of COL, conditional on some divestments
CVX had a 28% earnings beat, 13% revenue increase, and a 25% increase in CFO in its Q1 report
FMC had a 20% earnings beat, 103% revenue increase, and raised guidance in its Q1 report

4. Econ / Market Summary
Unemployment rate at 3.9%, lowest since December 2000
But, wage growth is lower than expected (0.1% growth, downward March revision)
U.S. GDP grew 2.3% in Q1
Fed held rates steady ( bps)

5. Upcoming Events Jerome Powell speaks on May 8th
NVDA earnings on May 10th
Consumer Sentiment released on May 11th (consensus: 99.0)
Middlebury Events…
Good luck with finals and have a great summer. Recruiting starts soon!