Weekly Market Wrap: Stocks finished higher for the 4^th straight week on better than expected retail sales, leading economic indicators surprised higher and consumer sentiment hit a 6 year high.

For The Week

• The S&P 500 gained another 2.07% to 1,667.47
• Oil added 0.18% to $96.04
• Gold fell 6.04% to $1,356.83
• The US Dollar rose 1.35% to $84.27 against other major world currencies.

2013 Year-To-Date for the major indexes:

• The S&P index +16.92%
• The Dow Jones Index +17.17%
• The NASDAQ Index +15.88%
• The Russell 2000 Small cap Index +17.30%
• EAFE International Index +9.97%
• 10 Year Treasury Yield is 1.97%, higher for the week and higher for the year
• 30 Year Treasury Yield is 3.16%, higher for the week and higher for the year
• WTI Crude Oil Index +4.60%
• Bloomberg Gold Index -18.94%
• The Dollar Index +5.59% against other major world currencies

Monday the S&P 500 gained less than a point on light volume as US retail sales beat, inventories were flat and China data disappointed.

Tuesday the index added 17 points on moderate volume as small business optimism beat and US import prices declined.

Wednesday stocks gained 8 points on moderate volume as US industrial production missed, New York area manufacturing was lower, wholesale prices inflation remained low , mortgage applications fell and homebuilder sentiment improved.

Thursday stocks slipped 8 points on moderate volume as US jobless claims disappointed, Philadelphia manufacturing slowed and housing construction was mixed.

Friday the S&P 500 surged 16 points on moderate volume as consumer sentiment hit its highest level in six years and the leading economic indicators beat expectations.

Takeaways from this week:

• Despite lackluster regional manufacturing data out of New York and Philadelphia markets pushed to new highs for the fourth straight week.
• Japan posted a better than expected first quarter growth rate of 3.5% hoping to shake off years of slow growth.

Mortgage rates moved higher again his week.  The national averages as reported by Bloomberg indicate a 15-year rate of 2.79% and a 30-year rate of 3.66%. These rates are as of 05/17/2013 and may include points.

What to watch for on the economic calendar next week:

Monday – No major data

Tuesday – Goldman same store sales

Wednesday – Existing home sales / FOMC Minutes

Thursday – Jobless Claims / New Home Sales / PMI Manufacturing

Friday – Durable Goods Orders

Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC
May 20, 2013

Weekly Market Wrap: Stocks pushed through new highs this week as the Dow closed about 15,000 for the first time on positive world economic data.

For The Week

• The S&P 500 gained another 1.19% to 1,633.70
• Oil added 0.27% to $95.87
• Gold fell 1.70% to $1,444.12
• The US Dollar rose 1.25% to $83.15 against other major world currencies.

2013 Year-To-Date for the major indexes:

• The S&P index +14.55%
• The Dow Jones Index +15.37%
• The NASDAQ Index +13.81%
• The Russell 2000 Small cap Index +14.81%
• EAFE International Index +9.66%
• 10 Year Treasury Yield is 1.90%, higher for the week and higher for the year
• 30 Year Treasury Yield is 3.10%, higher for the week and higher for the year
• WTI Crude Oil Index +4.41%
• Bloomberg Gold Index -13.73%
• The Dollar Index +4.18% against other major world currencies

Monday the S&P 500 gained 3 points on moderate volume as Eurozone business activity posted unimpressive results.

Tuesday the index added 8 points on moderate volume as consumer credit rose and the Dow closed above 15,000 for the first time.  Overseas the Australian bank surprised with a rate cut, German factory orders beat expectations and Euro-bank posted earnings that beat expectations.

Wednesday stocks gained 7 points on moderate volume as German industrial production was higher, China posted a wider than expected trade surplus and US mortgage applications were higher.

Thursday stocks slipped 6 points on moderate volume as US jobless claims continued lower, wholesale inventories rose but sales dropped, the Bank of England held rates steady but Korea cut rates, and the Dollar rallied against the Yen sending stocks lower at the end of the day on increased volatility.

Friday the S&P 500 added 7 points on light volume as Fed Chairman Bernanke’s speech did not indicate an end to the Fed’s stimulus.

Takeaways from this week:

• On a lite week of US data stocks pushed higher and closed near highs for the week.
• Data from overseas help to push world stocks higher as well as the US dollar to new highs for the year.

Mortgage rates moved higher this week.  The national averages as reported by Bloomberg indicate a 15-year rate of 2.72% and a 30-year rate of 3.58%. These rates are as of 05/10/2013 and may include points.

What to watch for on the economic calendar next week:

Monday – Retail Sales / Business Inventories

Tuesday – Small Business Optimism / Import & Export Prices

Wednesday – Producer Prices / Housing Market Index / Industrial Production / NY Manufacturing

Thursday – Jobless Claims / Housing Starts / Consumer Prices / Philly Manufacturing

Friday – Consumer Sentiment / Leading Indicators

Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC
May 13, 2013

Weekly Market Wrap: Stocks added to last weeks and 2013 gains by closing higher on better than expected April job gains and Euro stimulus.

For The Week

• The S&P 500 gained another 2.03% to 1,614.42
• Oil added 2.85% to $95.61
• Gold rose 0.84% to $1,469.10
• The US Dollar slipped 0.44% to $82.12 against other major world currencies.

2013 Year-To-Date for the major indexes:

• The S&P index +13.20%
• The Dow Jones Index +14.27%
• The NASDAQ Index +11.89%
• The Russell 2000 Small cap Index +13.20%
• EAFE International Index +9.09%
• 10 Year Treasury Yield is 1.75%, higher for the week and lower for the year
• 30 Year Treasury Yield is 2.97%, higher for the week and higher for the year
• WTI Crude Oil Index +4.13%
• Bloomberg Gold Index -12.24%
• The Dollar Index +2.89% against other major world currencies

Monday the S&P 500 gained 11 points on low volume as personal income missed expectations, personal spending and pending home sales beat, Dallas manufacturing fell into contraction.

Tuesday the index added 4 points on moderate volume as Chicago manufacturing contracted, 1Q employment costs were less than expected, consumer confidence beat and home prices rose.

Wednesday stocks slumped 15 points on moderate volume as ADP showed slowing private sector job growth, construction spending declined, US manufacturing declined but beat expectations, mortgage apps rose and the Fed showed no signs of slowing asset purchases.  Overseas China manufacturing growth slowed more than expected.

Thursday stocks rebounded 15 points on low volume as US jobless claims dropped to a five-year low, the trade deficit was smaller than expected, tech earning beat expectations and overseas the Euro Bank cut interest rates and indicated additional stimulus.

Friday the S&P 500 added 17 points on moderate volume as the April payroll report beat expectations with upward revisions to previous reports, US service activity slowed and factory orders fell.

Takeaways from this week:

• Stocks pushed further into unchartered territory as the Dow crossed the 15,000 level for the first time and the S&P pushed through and closed above 1,600 for the first time.
• The April payroll report was no9thing spectacular adding 165,000 jobs but it beat lowered expectations and was enough to add more confidence to the markets.
• Manufacturing activity seems to have slowed once again this spring which it has done each of the last few years before rebounding in the second half.
• More possible ECB stimulus and rate cuts pushed international stocks higher for the week as well.

Mortgage rates moved higher this week.  The national averages as reported by Bloomberg indicate a 15-year rate of 2.69% and a 30-year rate of 3.48%. These rates are as of 05/03/2013 and may include points.

What to watch for on the economic calendar next week:

Monday – No major data

Tuesday – Goldman Same Store Sales / Consumer Credit

Wednesday – No major data

Thursday – Jobless Claims / Consumer Comfort

Friday – No major data

Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC
May 6, 2013