AAM Weekly Market Wrap – September 11, 2017

Weekly Market Wrap: Stocks fell as North Korea detonated a Hydrogen Bomb and promised additional launches and the US began to clean up after Hurricane Harvey while Hurricane Irma approached Florida.


For The Week

  • The S&P 500 slipped 0.61% to 2,461.43
  • Oil gained 0.40% to $47.48
  • Gold added 1.64% to $1,346.74
  • The US dollar lost 1.62% at $91.33 against other major world currencies.


2017 Year-To Date for the major indexes:


  • The S&P Index +9.94%
  • The Dow Jones Index +10.30%
  • The NASDAQ Index +18.15%
  • The Russell 2000 Small cap Index +3.12%
  • EAFE International Index +16.94%
  • 10 Year Treasury Yield is 2.06%, lower for the week and lower for the year
  • 30 Year Treasury Yield is 2.67%, higher for the week and lower for the year
  • WTI Crude Oil Index -11.62%
  • Bloomberg Gold Index +16.86%
  • The Dollar Index -10.72% against other major world currencies



Monday the markets were closed.

Tuesday the markets lost 18 points on moderately-heavy volume as factory orders fell and missed estimates.  Overseas North Korea detonated a hydrogen bomb over the weekend.

Wednesday the index rebounded 8 points on moderate volume as mortgage applications rose and both PMI services and ISM Non-manufacturing rose but missed estimates.  In Washington President Trump cut a deal with the democrats to fund Hurricane Harvey relief and suspend the debt ceiling for 3 months.

Thursday the S&P 500 lost 1 point on moderate volume as jobless claims rose much more than expected in the aftermath of Hurricane Harvey, productivity rose more than expected and labor costs rose a little less than expected.  Overseas the ECB left interest rates unchanged as expected.

Friday the index dropped 4 points on moderate volume as consumer credit use rose more than expected and Hurricane Irma approached Florida.

Mortgage rates were lower on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 2.94% and a 30-year rate of 3.67%. These rates are as of 9/11/2017 and may include points.


What to watch for on the economic calendar this week:

Monday – No major data

Tuesday – Small Business Optimism

Wednesday – Mortgage Applications / Producer Prices

Thursday – Weekly Jobless Claims / Consumer Prices

Friday – Retail Sales / NY Manufacturing / Industrial Production / Consumer Sentiment



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

September 11, 2017

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