--- title: Federated Investors 3Q2016 Market Commentary description: Federated Investors examines economic data from the 3rd Quarter 2016 including back to school sales, European stocks, manufacturing and oil's effect on stocks. image: http://www.wrapmanager.com/hubfs/MM_Logo_Images/Federated-Investors-Market-Commentary.png --- [![Assembly Wealth](https://www.letsassemble.com/hs-fs/hubfs/Assembly/logos/Assembly-Wealth-Logo-Orange-500px.png?width=300&height=70&name=Assembly-Wealth-Logo-Orange-500px.png "Assembly Wealth")](https://www.letsassemble.com/) The Money Manager People TM [800-541-7774](tel:+18005417774) [![RESEARCH MONEY MANAGERS](https://no-cache.hubspot.com/cta/default/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/7ecbcb66-3fbb-41e3-b219-c24fb3c769c5) [![Client Center](https://no-cache.hubspot.com/cta/default/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2.png)](https://cta-redirect.hubspot.com/cta/redirect/10700/8691dcb4-caa3-42c2-a810-77b59f461fd2) [Home](https://www.letsassemble.com/) WrapManager's Wealth Management Blog When life changes, we can help you thoughtfully respond. [< Back to read another post](https://www.letsassemble.com/wealth-management-blog) # Federated Investors 3Q2016 Market Commentary Posted by [ WrapManager's Investment Policy Committee](https://www.letsassemble.com/wealth-management-blog/author/wrapmanagers-investment-policy-committee) October 31, 2016 - [Tweet](https://twitter.com/share) [![Federated Investors Stock Market Commentary](http://www.wrapmanager.com/hubfs/MM_Logo_Images/Federated-Investors-Market-Commentary.png "Federated Investors Stock Market Commentary")](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Federated-Investors-3Q2016-Market-Commentary.pdf)With 2016’s all-important final quarter at the doorstep and third quarter data continuing to trickle in, hopes for a sharp second-half rebound have begun to fade.The Atlanta Fed’s closely watched GDP Now forecast for growth in the July-September quarter ended September at 2.4%, well below the 3.5% estimate at the end of August. At the same time, no one is seriously talking recession, just more of the same: muddling along while awaiting the key event of the year: the presidential and congressional elections. ### **Federated Investors 3Q 2016 Market Overview** - Equity performance remained mixed in September as an agreement to cut OPEC production buoyed energy shares and news that the Fed would remain in a holding pattern helped fuel a rally off mid-September lows. - Economic data also provided a source of encouragement late in the quarter as forces that had been aiding U.S. growth—housing, auto sales and service-sector activity—lost some momentum but remained relatively robust. - Back-to-school sales disappointed, but consumer spending overall remained healthy, as did job and wage growth. - Manufacturing continued to struggle, although there were signs of a potential pickup late in the month. - Meanwhile, European financial stocks ended the quarter under a dark cloud, with the U.S. Department of Justice proposing a $14 billion settlement with Deutsche Bank related to the sale of mortgage securities from the mid-2000s. To continue reading the commentary, including details on the performance of Federated Investor's Strategic Value Dividend portfolio, click [here](http://www.wrapmanager.com/hubfs/MM_Commentary_PDFs/Federated-Investors-3Q2016-Market-Commentary.pdf).  Or, review [JP Morgan's 4Q 2016 Guide to the Markets](http://www.wrapmanager.com/wealth-management-blog/jp-morgan-election-2016-market-insights). 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