AAM Weekly Market Wrap – October 21, 2019

Weekly Market Wrap: The S&P rose for the second straight week as 3Q earnings season kicked off mixed, retail sales declined for the first time since February and the EU and UK reached a potential deal that needs to be ratified by UK parliament.


For The Week

  • The S&P 500 gained 0.54% to 2,986.20
  • Oil rose 1.84% to $53.78
  • Gold gained 0.52% to $1,494.10
  • The US dollar dropped 2.02% at $97.27 against other major world currencies.


2019 Year-To Date for the major indexes:


  • The S&P Index +19.12%
  • The Dow Jones Index +14.76%
  • The NASDAQ Index +21.92%
  • The Russell 2000 Small cap Index +13.86%
  • EAFE International Index +12.67%
  • 10 Year Treasury Yield is 1.75%, lower for the week and lower for the year
  • 30 Year Treasury Yield is 2.25%, higher for the week and lower for the year
  • WTI Crude Oil Index +18.43%
  • Bloomberg Gold Index +16.50%
  • The Dollar Index +1.22% against other major world currencies



Monday the S&P 500 slipped 4 points on light volume with no major data reported.

Tuesday stocks jumped 30 points on light volume as NY manufacturing rose and beat expectations and earnings season kick off mixed but healthcare and financials gained.

Wednesday the S&P 500 fell 6 points on light volume as mortgage applications rose, homebuilder sentiment rose and retail sales fell and missed expectations.

Thursday stocks rose 8 points on light volume as jobless claims rose but beat, housing starts fell and missed estimates, building permits fell less than expected while both capacity utilization and industrial production fell and missed estimates.

Friday the markets fell 12 points on moderate volume as leading economic indicators 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 3.19% and a 30-year rate of 3.78%. These rates are as of 10/21/2019 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 / Durable Goods Orders / New Home Sales

Friday – Consumer Sentiment



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

October 21, 2019



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