The Morning View: October 25, 2019

BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager


As we continue through third quarter earnings reports, results have been mixed to incrementally positive when compared to benign expectations. In addition, individual companies have provided optimistic comments as well as realistic challenges in the current environment. For example, on the positive side JP Morgan exceeded earnings estimates citing a strong U.S. consumer and Intel exceeded expectations on strong demand for chips in data centers. Meanwhile, Amazon missed earnings for the first time in almost two years as they are spending money to ramp up one day delivery and 3M Company discussed softness in most of their global markets. The U.S. dollar index has weakened recently, falling from 99.7 at the end of September to 97.3 earlier this week. Should this trend continue, it may help Emerging Markets, U.S. companies with a global presence, and potentially companies in the energy sector. In all, bond yields have ticked lower this morning and equity futures are lower heading in the market open.

This material is intended to be for informational purposes only and is intended for current or prospective clients of Argent Trust Company. This information is obtained from sources believed to be reliable, and its accuracy and completeness are not guaranteed. Information does not constitute a recommendation of any investment strategy, is not intended as investment advice and does not take into account all the circumstances of each investor. Forward‐looking assumptions are Argent Trust Company’s current estimates or expectations of future events or future results based on proprietary research and should not be construed as an estimate or promise of results that a portfolio may achieve. Actual results could differ materially from the results indicated by this information. Investments can go down as well as up. Past performance is not a reliable indicator of future results. 

About

Argent Financial Group

Argent Financial Group (Argent) is a leading, independent, fiduciary wealth management firm. Responsible for more than $30 billion in client assets, Argent provides individuals, families, businesses and institutions with a broad range of wealth management services, including trust and estate administration, investment management, ESOPs, retirement plan consulting, funeral and cemetery trusts, charitable organization administration, oil and gas (mineral) management and other unique financial services. Headquartered in Ruston, Louisiana, Argent was formed in 1990 and traces its roots back to 1930.

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