AAM Weekly Wrap – January 8 – 2011

January 08, 2011

Weekly Market Wrap:  The markets edged higher the first week of the new year as economic data continued to point to an recovering and expanding economy.  The S&P 500 finished the week 1.1% higher to close at 1,272.  Gold and Oil both moved lower on the week.  Oil was down 3.2% to $88.43 per barrel and Gold was down 3.5% to $1,370 per oz.  The dollar rallied this week closing up 2.5% against other major world currencies to $81.09.

In 2011 the major indexes finished at: The S&P index +12.8%, The Dow Jones Index +11%, The NASDAQ + 16.9%, The Russell 2000 Small cap Index + 25.3%, EAFE International +4.9%.  In the Bond market the 10 year treasury wrapped up the year yielding 3.29% and the 30 year yielding 4.33%

On Monday the market started 2011 with a bang up 14 points as the construction spending gained more than expected and the ISM manufacturing index gained for the 17th straight month.   On Tuesday the index dropped 2 points despite an increase in factory orders.  On Wednesday the index gained 6 points as mortgage applications and private payrolls both made gains.  On Thursday the index dropped 3 points  as December retails sales mostly disappointed except for high-end spending, a small increase in jobless claims and a positive ADP employment figure.  On Friday the index dropped 2 more as December payrolls posted a smaller than expected gain and financial stocks took a hit on news of a court ruling that invalidated foreclosures in Massachusetts based on bad paperwork.

The market continues to trend higher on mostly positive economic news.  The fed continued its current stance of pumping stimulus into the markets and despite the employment number not meeting expectations it did add more jobs and that is definitely a good thing. 

Mortgage rates are currently holding steady.  The Schwab Bank 15-year rate is now at 4.25% and the 30-year rate is at 4.875%. These rates are as of 01/07/2011 and assume no points, no origination fee and a $250,000 mortgage. 

The Week at AAM (to highlight what I do for clients and how I am different than most advisors):

Some of the highlights of my last week include:

  • Showed a client how he can retire two years earlier than we previously planned.
  • Finished my 2011 Business Plan.  Looking forward to a great 2011!
  • Helped clients with their 401k allocations to rebalance their 2010 gains.
  • Worked on my compliance tasks including archiving emails and updating my ADV Part II and my policies and procedures manual.


I hope you had a great week as well.  Please let me know if there is ever anything I can do for you or if something has changed in your financial situation to warrant a meeting or a change of investment policy.

Ronald J. VanSurksum, CFP®

Advanced Asset Management, LLC

, , , , , , , ,

Comments are closed.

Advanced Asset Management
4555 Wilson Ave SW, Suite 2
Grandville, MI 49418

Phone: (616) 531-5220