AAM Weekly Market Wrap – February 25, 2019

Weekly Market Wrap: Stocks rose again last week as China trade talks continued to progress in a positive manner.

 

For The Week

  • The S&P 500 added 0.62% to 2,792.67
  • Oil gained 3.00% to $57.26
  • Gold rose 0.52% to $1,328.27
  • The US dollar lost 0.34% at $96.55 against other major world currencies.

 

2019 Year-To Date for the major indexes:

 

  • The S&P Index +11.40%
  • The Dow Jones Index +11.59%
  • The NASDAQ Index +13.45%
  • The Russell 2000 Small cap Index +17.91%
  • EAFE International Index +9.01%
  • 10 Year Treasury Yield is 2.66%, flat for the week and lower for the year
  • 30 Year Treasury Yield is 3.02%, higher for the week and lower for the year
  • WTI Crude Oil Index +26.10%
  • Bloomberg Gold Index +3.57%
  • The Dollar Index +0.47% against other major world currencies

 

 

Monday markets were closed.

Tuesday stocks gained 4 points on moderate volume as homebuilder sentiment rose and beat expectations.

Wednesday the markets added 5 points on heavy volume as mortgage applications rose and the FOMC minutes showed that the Fed will now be patient in raising rates further.

Thursday stocks fell 10 points on moderate volume as jobless claims fell more than expected, durable goods orders rose but missed estimates, existing home sales fell and missed while leading indicators also fell and missed estimates.

Friday stocks jumped 18 points on moderate volume with no major data released.

Mortgage rates were mixed on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.67% and a 30-year rate of 4.34%. These rates are as of 02/25/2019 and may include points.

 

What to watch for on the economic calendar this week:


Monday – No major data

Tuesday – Housing Starts & Building Permits / Consumer Confidence / Shiller & FHFA Home Prices

Wednesday – Mortgage Applications / Factory Orders / Pending Home Sales

Thursday – Jobless Claims / 4Q GDP / Chicago Manufacturing

Friday – ISM Manufacturing / PCE Prices / Personal Income & Spending / Consumer Sentiment

 

 

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

February 25, 2019

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