AAM Weekly Market Wrap – January 28, 2019

Weekly Market Wrap: Stocks were mixed last week as China GDP growth slowed adding to global growth concerns but a temporary deal ended the government shutdown and boosted investor sentiment to end the week.


For The Week

  • The S&P 500 slipped 0.22% to 2,664.76
  • Oil fell 0.65% to $53.69
  • Gold gained 1.73% to $1,303.08
  • The US dollar lost 0.65% at $95.76 against other major world currencies.


2019 Year-To Date for the major indexes:


  • The S&P Index +6.30%
  • The Dow Jones Index +6.04%
  • The NASDAQ Index +7.98%
  • The Russell 2000 Small cap Index +9.96%
  • EAFE International Index +5.70%
  • 10 Year Treasury Yield is 2.75%, lower for the week and higher for the year
  • 30 Year Treasury Yield is 3.06%, lower for the week and higher for the year
  • WTI Crude Oil Index +18.23%
  • Bloomberg Gold Index +1.60%
  • The Dollar Index -0.35% against other major world currencies



Monday the markets were closed.

Tuesday stocks dropped 38 points on moderately-heavy volume as existing home sales fell and missed while overseas global growth concerns grew with China’s lower than expected GDP growth numbers.

Wednesday the markets gained 6 points on moderate volume as mortgage applications fell and FHFA home prices rose more than expected.

Thursday stocks rose 4 points on moderate volume as jobless claims fell and beat estimates while leading indicators fell but matched.

Friday stocks gained 22 points on moderate volume with no major data reported.

Mortgage rates were higher on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.74% and a 30-year rate of 4.53%. These rates are as of 01/28/2019 and may include points.


What to watch for on the economic calendar this week:

Monday – No major data

Tuesday – Consumer Confidence / Shiller Home Prices

Wednesday – Mortgage Applications / Pending Home Sales / ADP Employment / FOMC Meeting Announcement

Thursday – Jobless Claims / Chicago PMI / PCE Prices / Employment Costs / Personal Income & Spending

Friday – January Jobs Report / Consumer Sentiment / ISM Manufacturing



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

January 28, 2019



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