AAM Weekly Market Wrap – February 18, 2019

Weekly Market Wrap: Stocks continued higher rising 6 weeks out of 7 in 2019 as China trade talks continue and a government shutdown deal is made.

 

For The Week

  • The S&P 500 rose 2.50% to 2,775.60
  • Oil gained 5.44% to $55.59
  • Gold added 0.27% to $1,321.35
  • The US dollar rose 0.26% at $96.88 against other major world currencies.

 

2019 Year-To Date for the major indexes:

 

  • The S&P Index +10.72%
  • The Dow Jones Index +10.96%
  • The NASDAQ Index +12.62%
  • The Russell 2000 Small cap Index +16.36%
  • EAFE International Index +8.16%
  • 10 Year Treasury Yield is 2.66%, lower for the week and lower for the year
  • 30 Year Treasury Yield is 2.99%, lower for the week and lower for the year
  • WTI Crude Oil Index +22.42%
  • Bloomberg Gold Index +3.03%
  • The Dollar Index +0.81% against other major world currencies

 

 

Monday the S&P 500 added 2 points on moderate volume with no major data reported.

Tuesday stocks jumped 35 points on moderate volume as small business optimism fell and missed estimates.

Wednesday the markets gained 8 points on moderate volume as consumer prices were flat and issued expectations while mortgage applications fell.

Thursday stocks fell 7 points on heavy volume as jobless claims rose more than expected, producer prices fell and missed estimates while December retail sales fell and missed expectations.

Friday stocks jumped 30 points on moderately-heavy volume as export prices fell and match estimates, import prices fell more than expected, both capacity utilization and industrial production fell and missed expectations, NY manufacturing rose and beat estimates while consumer sentiment rose and beat expectations.

Mortgage rates were mixed on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.66% and a 30-year rate of 4.39%. These rates are as of 02/18/2019 and may include points.

 

What to watch for on the economic calendar this week:


Monday – No major data & markets closed

Tuesday – Homebuilder Sentiment

Wednesday – Mortgage Applications / FOMC Minutes

Thursday – Jobless Claims / Durable Goods / Existing Home Sales / Leading Indicators

Friday – No major data

 

 

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

February 18, 2019

 

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