AAM Weekly Market Wrap – January 13, 2018

Weekly Market Wrap: World stocks continued higher to begin 2018 as US earnings season kicked off and inflation data was weaker than expected.

 

For The Week

  • The S&P 500 added 1.57% to 2,786.24
  • Oil surged 4.65% to $64.30
  • Gold gained 1.49% to $1,338.37
  • The US dollar dropped 1.08% at $90.97 against other major world currencies.

 

2018 Year-To Date for the major indexes:

 

  • The S&P Index +4.21%
  • The Dow Jones Index +4.39%
  • The NASDAQ Index +5.18%
  • The Russell 2000 Small cap Index +4.07%
  • EAFE International Index +4.54%
  • 10 Year Treasury Yield is 2.55%, higher for the week and higher for the year
  • 30 Year Treasury Yield is 2.85%, higher for the week and higher for the year
  • WTI Crude Oil Index +6.90%
  • Bloomberg Gold Index +2.69%
  • The Dollar Index -1.41% against other major world currencies

 

 

Monday the S&P 500 fell less than 1 point as consumer credit use rose more than expected.

Tuesday stocks added 4 points on moderate volume as small business optimism fell and missed estimates.

Wednesday the index lost 3 points on moderate volume as mortgage applications rose, import prices rose much less than expected and export prices fell and missed estimates.

Thursday the S&P 500 surged 19 points on moderate volume as jobless claims rose more than expected and producer prices fell and missed expectations.

Friday the index added 19 points on moderate volume as consumer prices rose and matched estimates while retail sales rose less than expected.

Mortgage rates continued higher on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.31% and a 30-year rate of 3.96%. These rates are as of 1/13/2018 and may include points.

 

What to watch for on the economic calendar this week:


Monday – Markets Closed

Tuesday – NY Manufacturing

Wednesday – Mortgage Applications / Industrial Production / Housing Market Index

Thursday – Jobless Claims / Housing Starts

Friday – Consumer Sentiment

 

 

Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC

January 13, 2018

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