AAM Weekly Market Wrap – April 23, 2018

Weekly Market Wrap: Stocks rose modestly last week despite the US bomb strike in Syria and a surge in the 10-year treasury rate.


For The Week

  • The S&P 500 gained 0.52% to 2,670.14
  • Oil added 1.47% to $68.38
  • Gold slipped 0.63% to $1,336.05
  • The US dollar rose 0.61% at $90.33 against other major world currencies.


2018 Year-To Date for the major indexes:


  • The S&P Index -0.13%
  • The Dow Jones Index -1.04%
  • The NASDAQ Index +3.52%
  • The Russell 2000 Small cap Index +1.86%
  • EAFE International Index +1.05%
  • 10 Year Treasury Yield is 2.96%, higher for the week and higher for the year
  • 30 Year Treasury Yield is 3.15%, higher for the week and higher for the year
  • WTI Crude Oil Index +13.68%
  • Bloomberg Gold Index +2.51%
  • The Dollar Index -2.10% against other major world currencies


Monday the S&P 500 gained 21 points on moderate volume as retail sales rose and beat expectations, NY manufacturing fell & missed while the housing market index also fell and missed estimates.  Overseas the US commenced a missile strikes on Syria.

Tuesday stocks added 29 points on moderate volume as both housing start and building permits rose and beat expectations while industrial production also rose and beat estimates.  Overseas China growth remained steady.

Wednesday the index gained 2 points on moderate volume as mortgage applications rose.

Thursday the S&P 500 lost 16 points on moderate volume as jobless claims fell but missed estimates and leading indicators rose and matched expectations.

Friday stocks dropped 23 points on moderate volume with no major data reported.

Mortgage rates were higher on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.81% and a 30-year rate of 4.41%. These rates are as of 4/23/2018 and may include points.


What to watch for on the economic calendar this week:

Monday – PMI Composite Flash / Existing Home Sales

Tuesday – Shiller Home Prices / FHFA Home Prices / New Home Sales / Consumer Confidence

Wednesday – Mortgage Applications

Thursday – Jobless Claims / Durable Goods Orders

Friday – GDP / Employment Costs / Chicago PMI / Consumer Sentiment



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

April 23, 2018


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