Headlines discussed at LNWM’s Monday morning briefing:

— The S&P 500 lost 1.6% last week, with tech and retailers as loss leaders; late-cycle volatility in play.
— The Federal Reserve’s Vice Chair indicated fewer interest rate increases if economic growth falters.
— Latin American stocks and currencies rebounded on US interest rate outlook.
— US crude oil prices lost 6.2% for the week, 6th straight week of losses, on fears of global oversupply.
— Concern over Brexit drove European stocks lower; earnings expected to rise 16% in 3rd quarter y-o-y.

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