Weekly Market Wrap: US stocks fell to wrap up a very good 2017, world stocks rose.
For The Week
- The S&P 500 fell 0.36% to 2,673.61
- Oil added 3.17% to $60.15
- Gold gained 2.28% to $1,303.33
- The US dollar dropped 1.77% at $92.27 against other major world currencies.
2017 Year-To Date for the major indexes:
- The S&P Index +19.42%
- The Dow Jones Index +25.08%
- The NASDAQ Index +28.24%
- The Russell 2000 Small cap Index +13.14%
- EAFE International Index +21.79%
- 10 Year Treasury Yield is 2.42%, lower for the week and lower for the year
- 30 Year Treasury Yield is 2.75%, lower for the week and lower for the year
- WTI Crude Oil Index +11.97%
- Bloomberg Gold Index +13.10%
- The Dollar Index -9.80% against other major world currencies
Monday markets were closed.
Tuesday stocks fell 3 points on light volume as Shiller home prices rose and beat expectations.
Wednesday the index gained 2 points on light volume as consumer confidence fell and missed while pending home sales slowed and missed estimates.
Thursday the S&P 500 rose 5 points on light volume as jobless claims were flat and missed estimates while Chicago area manufacturing rose and beat expectations.
Friday the index dropped 14 points on light volume with no major data released.
Mortgage rates were lower on the week. The national averages as reported by Bankrate.com indicate a 15-year rate of 3.20% and a 30-year rate of 3.85%. These rates are as of 1/01/2018 and may include points.
What to watch for on the economic calendar this week:
Monday – Markets Closed – Happy New Year!
Tuesday – PMI Manufacturing
Wednesday – Mortgage Applications / Motor Vehicle Sales / ISM Manufacturing / Construction Spending
Thursday – Jobless Claims / ADP Employment / PMI Services
Friday – December Jobs Report / ISM Non-Manufacturing / Factory Orders
Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC
January 1, 2018