AAM Weekly Market Wrap – January 14, 2019

Weekly Market Wrap: Stocks continued higher in January as traders were optimistic regarding US / China trade negotiations and the government shutdown lingered on.

 

For The Week

  • The S&P 500 added 2.54% to 2,596.26
  • Oil jumped another 7.57% to $51.59
  • Gold gained 0.22% to $1,287.70
  • The US dollar slipped 0.52% at $95.67 against other major world currencies.

 

2019 Year-To Date for the major indexes:

 

  • The S&P Index +3.57%
  • The Dow Jones Index +2.87%
  • The NASDAQ Index +5.07%
  • The Russell 2000 Small cap Index +7.33%
  • EAFE International Index +3.76%
  • 10 Year Treasury Yield is 2.70%, higher for the week and lower for the year
  • 30 Year Treasury Yield is 3.04%, higher for the week and higher for the year
  • WTI Crude Oil Index +13.61%
  • Bloomberg Gold Index +0.40%
  • The Dollar Index -0.45% against other major world currencies

 

 

Monday the S&P 500 rose 18 points on heavy volume as ISM non-manufacturing fell and missed estimates.

Tuesday stocks gained 25 points on moderately-heavy volume as consumer credit fell but beat and small business optimism slipped lower.

Wednesday the markets added 11 points on moderately-heavy volume as mortgage applications surged and the FOMC released their meeting notes.

Thursday stocks rose 12 points on moderate volume as jobless claims fell and beat estimates.

Friday stocks slipped less than 1 point on moderate volume as consumer prices fell and matched expectations.

Mortgage rates were mixed on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.75% and a 30-year rate of 4.43%. These rates are as of 01/14/2019 and may include points.

 

What to watch for on the economic calendar this week:


Monday – No major data

Tuesday – Existing Home Sales

Wednesday – Mortgage Applications / FHFA Home Prices

Thursday – Jobless Claims / Leading Economic Indicators

Friday – Durable Goods Orders / New Home Sales

 

 

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

January 14, 2019

 

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