Market Data and the U.S. Open

As we start a new week, I want to highlight a few items of interest that are coming up.  I don’t plan on scheduling my week around any of them but all will have their respective impact on my daily routines.

Thursday, June 13 – Retail sales data for May will be released from the Commerce Department and the U.S. Open Golf Championship will begin at Merion Golf Club outside of Philadelphia, PA.

Friday, June 14 – The May producer-price index is scheduled to be released by the Labor Department and The University of Michigan releases its consumer confidence index for June.

The markets continue to be volatile as investors attempt to speculate on what the Federal Reserve will do next.  It is concerning that the stock market goes up even when the jobs data is not sufficient to put the economy on more solid footing.  There is something fundamentally risky with market appreciation that seems driven more by monetary policy than business fundamentals.

Because you never know what the market will do, it is best to stick with your allocation targets and rebalance periodically.  Doing so helps take speculation out of the equation and with any luck, reduces the anxiety that comes with markets that sometime move like a roller coaster.

Speaking of roller coasters, there will be no shortages of U.S. Open contestants that feel like they are on the USGA roller coaster.  On second thought, maybe I will schedule a part of my weekend around the U.S. Open.  It will take precision and patience to win.  Slow and steady is usually a good bet.   Just like managing an investment portfolio.