Oil industry faces short-term hurricane impact
While it’s too early to know the full economic and human toll of Hurricane Harvey, we expect a relatively short-term impact on the U.S. energy industry.
Recent questions surrounding slower growth in China’s economy, the second largest in the world, have led to concerns about the potential impact on global financial markets and prompted a dramatic sell-off in global stocks. China’s exports, fixed-asset investment, industrial production and auto sales all slowed dramatically in July. The People’s Bank of China recently devalued the country’s currency by about 4%. A slower economy in China means fewer export opportunities for the eurozone and various emerging markets around the world that have been feeding China’s growth. We are monitoring that situation, as well as sectors of the global market, every day.
Short-term declines and daily fluctuations can be frustrating. We believe, however, that they can also create buying opportunities for long-term investors. Our investment team meets every morning to not only look at what has already happened, but to analyze what events mean over time, and what action might be best for our investors with an eye on the long term. Remember, a strong financial plan is developed with a sense of clarity and perspective based on your long-term goals.
Here are a few key investing concepts to keep in mind:
Past performance is no guarantee of future results. Investment return and principal value will fluctuate, and it is possible to lose money by investing.
The S&P 500 Index is composed of 500 selected common stocks chosen for market size, liquidity, and industry grouping, among other factors. Investments cannot be made directly in an index.