AAM Weekly Market Wrap – March 26, 2018

Weekly Market Wrap: Stocks dropped again this week as President Trump announced $50 billion of tariffs on Chinese imports while economic data was mostly positive.


For The Week

  • The S&P 500 dropped 5.95% to 2,588.26
  • Oil jumped 5.68% to $65.88
  • Gold gained 2.60% to $1,347.49
  • The US dollar lost 0.86% at $89.44 against other major world currencies.


2018 Year-To Date for the major indexes:


  • The S&P Index -3.19%
  • The Dow Jones Index -4.80%
  • The NASDAQ Index +1.29%
  • The Russell 2000 Small cap Index -1.66%
  • EAFE International Index -3.37%
  • 10 Year Treasury Yield is 2.82%, 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 +9.53%
  • Bloomberg Gold Index +3.39%
  • The Dollar Index -3.07% against other major world currencies



Monday the S&P 500 dropped 39 points on heavy volume with no major data released.

Tuesday stocks rebounded 4 points on moderately-heavy volume as the FOMC meeting began.

Wednesday the index slipped 5 points on moderately-heavy volume as mortgage applications were mixed, existing home sales rose and beat expectations and the FOMC announced a 0.25% increase in the Fed Funds rate and projected 2 more increases in 2018.

Thursday the S&P 500 fell 68 points on heavy volume as jobless claims rose a little more than expected, FHFA home prices rose and beat expectations, PMI composite flash fell and missed estimates while the leading economic indicators rose and beat expectations.  In Washington President Trump announced $50 billion of tariffs on Chinese imports.

Friday the index fell another 55 points on heavy volume as durable goods orders rose and beat estimates while new home sales slipped and just missed expectations.

Mortgage rates were higher 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 4.33%. These rates are as of 3/26/2018 and may include points.


What to watch for on the economic calendar this week:

Monday – Dallas Manufacturing

Tuesday – Shiller Home Prices / Consumer Confidence

Wednesday – Mortgage Applications / GDP / Corporate Profits / Pending Home Sales

Thursday – Jobless Claims / Personal Income & Outlays / Chicago Manufacturing / Consumer Sentiment

Friday – Markets closed for Good Friday



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

March 26, 2018


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