AAM Weekly Market Wrap – August 19, 2019

Weekly Market Wrap: Stocks were lower for the third straight week as China trade and Hong Kong protests weighed on traders.

 

For The Week

  • The S&P 500 fell 1.03% to 2,888.68
  • Oil was slipped 0.06% to $54.47
  • Gold gained 1.01% to $1,512.33
  • The US dollar rose 0.67% at $98.18 against other major world currencies.

 

2019 Year-To Date for the major indexes:

 

  • The S&P Index +15.23%
  • The Dow Jones Index +10.97%
  • The NASDAQ Index +19.00%
  • The Russell 2000 Small cap Index +10.76%
  • EAFE International Index +5.87%
  • 10 Year Treasury Yield is 1.55%, lower for the week and lower for the year
  • 30 Year Treasury Yield is 2.01%, lower for the week and lower for the year
  • WTI Crude Oil Index +19.95%
  • Bloomberg Gold Index +17.92%
  • The Dollar Index +2.16% against other major world currencies

 

 

Monday the S&P 500 index dropped 36 points on light volume with no major data was reported.

Tuesday stocks rebounded 43 points on moderate volume as consumer prices rose and matched while small business optimism rose.

Wednesday the S&P 500 plummeted 86 points on heavy volume as mortgage applications rose while import and export prices both rose.

Thursday stocks gained 7 points on moderate volume as jobless claims rose more than expected, retail sales rose and beat expectations, productivity rose and beat, industrial production fell and missed, capacity utilization fell and missed, NY manufacturing rose and beat estimates, homebuilder sentiment rose while labor costs rose more than expected.

Friday the markets added 41 points on moderate volume as consumer sentiment fell and missed expectations, housing starts fell and missed estimates while building permits rose and beat expectations.

Mortgage rates were flat on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.10% and a 30-year rate of 3.70%. These rates are as of 08/19/2019 and may include points.

 

What to watch for on the economic calendar this week:


Monday – No major data

Tuesday – No major data

Wednesday –Mortgage Applications / Existing Home Sales / FOMC Minutes

Thursday – Jobless Claims / Leading Indicators

Friday – New Home Sales

 

 

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

August 19, 2019

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