AAM Weekly Market Wrap – April 15, 2019

Weekly Market Wrap: Stocks rose last week as 1Q earnings season kicked off while inflation data was a little higher than expected.

 

For The Week

  • The S&P 500 gained 0.51% to 2,907.41
  • Oil added 0.87% to $63.84
  • Gold slipped 0.07% to $1,290.88
  • The US dollar fell 0.44% at $96.97 against other major world currencies.

 

2019 Year-To Date for the major indexes:

 

  • The S&P Index +15.98%
  • The Dow Jones Index +13.22%
  • The NASDAQ Index +20.33%
  • The Russell 2000 Small cap Index +17.52%
  • EAFE International Index +12.95%
  • 10 Year Treasury Yield is 2.56%, higher for the week and lower for the year
  • 30 Year Treasury Yield is 2.97%, higher for the week and lower for the year
  • WTI Crude Oil Index +40.59%
  • Bloomberg Gold Index +0.65%
  • The Dollar Index +0.91% against other major world currencies

 

 

Monday the S&P 500 gained 3 points on moderate volume as factory orders fell a little less than expected.

Tuesday stocks lost 18 points on moderate volume as small business optimism rose.

Wednesday the S&P 500 rose 10 points on moderate volume as mortgage applications fell, consumer prices rose more than expected and the FOMC meeting notes showed that the Fed plan to remaining patient and data dependent regarding future rate hikes.

Thursday stocks gained less than one point on moderate volume as jobless claims fell more than expected and producer prices rose more than expected.

Friday stocks added 19 points on moderate volume as import prices rose more than expected, export prices rose and matched estimates while consumer sentiment fell and missed expectations.

Mortgage rates rose on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.50% and a 30-year rate of 4.09%. These rates are as of 04/15/2019 and may include points.

 

What to watch for on the economic calendar this week:


Monday – NY Manufacturing

Tuesday – Industrial Production and Capacity Utilization / Home Builder Sentiment

Wednesday – Mortgage Applications

Thursday – Jobless Claims / Retail Sales / Leading Indicators

Friday – Building Permits and Housing Starts

 

 

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

April 15, 2019

 

 

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