AAM Weekly Market Wrap – February 11, 2019

Weekly Market Wrap: Stocks ended slightly higher last week as economic data and China trade concerns continued to pressure markets.

 

For The Week

  • The S&P 500 rose 0.05% to 2,707.88
  • Oil fell 4.60% to $52.72
  • Gold was flat at $1,317.84
  • The US dollar gained 1.10% at $96.63 against other major world currencies.

 

2019 Year-To Date for the major indexes:

 

  • The S&P Index +8.02%
  • The Dow Jones Index +7.63%
  • The NASDAQ Index +9.99%
  • The Russell 2000 Small cap Index +11.70%
  • EAFE International Index +5.44%
  • 10 Year Treasury Yield is 2.63%, lower for the week and lower for the year
  • 30 Year Treasury Yield is 2.97%, lower for the week and flat for the year
  • WTI Crude Oil Index +16.10%
  • Bloomberg Gold Index +2.75%
  • The Dollar Index +0.55% against other major world currencies

 

 

Monday the S&P 500 gained 18 points on moderate volume as factory orders fell and missed.

Tuesday stocks added 13 points on moderate volume as ISM Non-Manufacturing fell and missed expectations but remains strong.

Wednesday the markets fell 6 points on moderate volume as mortgage applications fell.

Thursday stocks dropped 26 points on heavy volume as jobless claims fell but were higher than expected while consumer credit use fell but beat estimates.

Friday stocks rose 2 points on moderate volume with no major data reported.

Mortgage rates were lower on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.68% and a 30-year rate of 4.35%. These rates are as of 02/11/2019 and may include points.

 

What to watch for on the economic calendar this week:


Monday – No major data

Tuesday – Small Business Optimism

Wednesday – Mortgage Applications / Consumer Prices

Thursday – Jobless Claims / Producer Prices / Retail Sales

Friday – Import & Export Prices / NY Manufacturing / Consumer Sentiment / Industrial Production and Capacity Utilization

 

 

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

February 11, 2019

 

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