AAM Weekly Market Wrap – June 17, 2019

Weekly Market Wrap: Stocks rose for the second straight week as trade negotiations with Mexico turned positive while China trade concerns and Mid-East tensions kept gains to a minimum.


For The Week

  • The S&P 500 rose 0.47% to 2,886.98
  • Oil dropped 2.74% to $52.51
  • Gold was flat at $1,341.10
  • The US dollar rose 1.01% at $97.56 against other major world currencies.


2019 Year-To Date for the major indexes:


  • The S&P Index +15.16%
  • The Dow Jones Index +11.84%
  • The NASDAQ Index +17.50%
  • The Russell 2000 Small cap Index +12.90%
  • EAFE International Index +10.78%
  • 10 Year Treasury Yield is 2.09%, higher for the week and lower for the year
  • 30 Year Treasury Yield is 2.59%, higher for the week and lower for the year
  • WTI Crude Oil Index +15.64%
  • Bloomberg Gold Index +4.57%
  • The Dollar Index +1.52% against other major world currencies



Monday the S&P 500 index rose 13 points on moderate volume with no major data reported and a deal with Mexico to avoid tariffs.

Tuesday stocks slipped 1 point on moderate volume as producer prices rose and matched expectations while small business optimism rose.

Wednesday the S&P 500 lost 6 points on light-to-moderate volume as mortgage applications surged higher and consumer prices rose and matched estimates.

Thursday stocks gained 12 points on moderate volume as jobless claims rose more than expected while import and export prices both fell and missed expectations.

Friday the markets fell 5 points on moderate volume as both capacity utilization and industrial production rose and beat estimates, retail sales rose a little less than expected while consumer sentiment fell and missed expectations.

Mortgage rates were lower on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.22% and a 30-year rate of 3.93%. These rates are as of 06/17/2019 and may include points.


What to watch for on the economic calendar this week:

Monday – NY Manufacturing / Homebuilder Sentiment

Tuesday – Housing Starts & Building Permits

Wednesday – Mortgage Applications / FOMC Rate Decision

Thursday – Jobless Claims / Leading Economic Indicators

Friday – Existing Home Sales



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

June 17, 2019



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