Weekly Market Commentary 09/14/2018

A mixed bag of data highlighted the economic calendar this week, but the general theme of the economy’s performance in the third quarter remains intact. Simply put, the economy still retains a good deal of momentum but growth in the July-September period is poised to slow modestly from the robust 4.2% pace registered in the second quarter. Mother Nature may once again influence the ultimate outcome, as Hurricane Florence, which hit the Carolinas on Friday, will no doubt have an impact on spending and production data over the final two weeks of the quarter. Meanwhile, the financial markets, which are marking the 10th anniversary of the Lehman Brothers collapse this weekend, continue to vanquish the scars and bitter memories of the financial crisis that followed, albeit recriminations and finger-pointing are still capturing headlines.