AAM Weekly Market Wrap – February 19, 2018

Weekly Market Wrap: Stocks rebounded this week despite a rise in inflation data.

 

For The Week

  • The S&P 500 jumped 4.30% to 2,732.22
  • Oil rallied 4.19% to $61.68
  • Gold rose 2.42% to $1,348.52
  • The US dollar fell 1.36% at $89.15 against other major world currencies.

 

2018 Year-To Date for the major indexes:

 

  • The S&P Index +2.19%
  • The Dow Jones Index +2.02%
  • The NASDAQ Index +4.87%
  • The Russell 2000 Small cap Index +0.52%
  • EAFE International Index +1.58%
  • 10 Year Treasury Yield is 2.88%, higher for the week and higher for the year
  • 30 Year Treasury Yield is 3.13%, lower for the week and higher for the year
  • WTI Crude Oil Index +2.54%
  • Bloomberg Gold Index +3.47%
  • The Dollar Index -3.38% against other major world currencies

 

 

Monday the S&P 500 jumped 36 points on heavy volume with no major data released.

Tuesday stocks added 7 points on moderate volume as small business optimism rose and beat expectations.

Wednesday the index gained 36 points on moderately-heavy volume as mortgage applications fell, consumer prices rose more than expected and retail sales fell and missed estimates.

Thursday the S&P 500 rallied 33 points on moderately-heavy volume as jobless claims rose a little more than expected, producer prices rose and matched expectations, industrial production fell and missed estimates while the housing market index was flat and matched.

Friday the index added 1 point on moderately-heavy volume as both housing starts and building permits rose and beat expectations, both import and export prices rose more than expected and consumer sentiment rose and beat estimates.

Mortgage rates were mixed on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.69% and a 30-year rate of 4.30%. These rates are as of 2/19/2018 and may include points.

 

What to watch for on the economic calendar this week:


Monday – Markets Closed

Tuesday – No Major Data

Wednesday – Mortgage Applications / PMI Composite Flash / Existing Home Sales

Thursday – Jobless Claims / Leading Indicators

Friday – No Major Data

 

 

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

February 19, 2018

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