The Week Ahead – Seventh Inning Stretch

Investments & Economy The Week Ahead Grow

The Week Ahead – Seventh Inning Stretch

Andrew Chan, CAIA, Co-Chief Investment Officer

| 10/20/17 8:09 AM

Welcome to “The Week Ahead” where each Friday we take a moment to provide our thoughts on what we can expect in markets and the economy for the upcoming week.

Congratulations to the Los Angeles Dodgers for making it to the World Series for the first time since 1988!

The LA Dodgers weren’t the only exciting thing that we saw this week, as the Dow Jones Industrial Average index closed above 23,000 for the first time. 2017 so far has seen the Dow break 20,000 (January), 21,000 (March), and 22,000 (August). What a year! This week was also a “Fed” week, as the Beige Book was released and news came through that President Trump met with Fed Chair Janet Yellen as he comes to a decision soon on either renewing Yellen to a new term or nominating another candidate. The current favorites besides Fed Chair Janet Yellen are his chief economic advisor, Gary Cohn, former Fed Governor Kevin Warsh, Fed Governor Jerome Powell, and Stanford University economist John Taylor.

The first look at U.S. GDP for the third quarter will be released next Friday and expectations have been lowered due to the multiple hurricanes that we saw during the quarter. After a strong second quarter report, 3.1% (annual), investors will be looking to see if that momentum was carried through the third quarter similar to what we saw back in 2016.

Data deck for October 21 – October 27:

Date	Indicator	Period
October 24	Richmond Fed Survey	October
October 25	Core Capital Goods Orders – Prelim.	September
October 25	Durable Goods Orders – Prelim.	September
October 25	FHFA House Price Index	August
October 25	New Home Sales	September
October 26	Advanced Goods Trade Balance	September
October 26	Initial Jobless Claims	September
October 26	Pending Home Sales	September
October 26	Kansas City Fed Survey	October
October 27	U.S. GDP – Advanced	Q3
October 27	Personal Consumption	Q3
October 27	U. of Michigan Consumer Sentiment – Final	October

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Andrew Chan, CAIA, Co-Chief Investment Officer

About the Author

Andrew Chan, CAIA, Co-Chief Investment Officer

Mr. Chan co-leads the strategic investment committee and is responsible for overseeing First Foundation Advisor’s investment solutions platform which includes conducting investment manager research for both traditional and alternative investments as well as asset allocation guidance for portfolio construction. As a member of the investment committee, he provides market commentary and investment insights to clients. Additionally, Mr. Chan serves as a senior executive on the business strategy committee providing guidance on firm wide initiatives. With over 15 years of wealth management experience, Mr. Chan has played key roles across various aspects of investment and wealth management. Prior to joining First Foundation Advisors, Mr. Chan was most recently a portfolio manager at U.S. Trust where, in addition to his daily responsibilities, he served on numerous national committees including the investment manager committee, the portfolio model committee, and the strategic technology committee. He also served on the in-house strategic consultant committee reporting directly to the President of U.S. Trust. Mr. Chan is a graduate of the Wharton School Executive Program on Investment Management and holds a Bachelor of Arts degree in Business Administration from the University of California, Riverside. He is a Chartered Alternative Investment Analyst (CAIA). Mr. Chan has previously served as an exam working group member and as an exam grader for CAIA. A member of the CAIA SoCal Executive Board since 2015, Mr. Chan has served as executive chapter head since 2017. Read more