Happy New Year!
Weekly Market Wrap: Stocks began 2020 with increased volatility as middle-east tensions pushed oil prices higher and stocks lower.
For The Week
- The S&P 500 gained 0.16% to 3,234.85
- Oil surged 3.16% to $62.99
- Gold rose 2.04% to $1,549.01
- The US dollar fell 0.21% at $96.82 against other major world currencies.
2019 Year-To Date for the major indexes:
- The S&P Index +28.88%
- The Dow Jones Index +22.34%
- The NASDAQ Index +35.23%
- The Russell 2000 Small cap Index +23.72%
- EAFE International Index +18.06%
- 10 Year Treasury Yield is 1.91%, higher for the week and lower for the year
- 30 Year Treasury Yield is 2.36%, higher for the week and lower for the year
- WTI Crude Oil Index +34.46%
- Bloomberg Gold Index +18.36%
- The Dollar Index +0.42% against other major world currencies
Monday the S&P 500 lost 19 points on light-to-moderate volume as Midwest manufacturing rose and beat estimates but remained in contraction territory while pending home sales rose and beat expectations.
Tuesday stocks gained 9 points on moderate volume as consumer confidence fell and missed, FHFA home prices rose a little less than expected while Shiller home prices rose a little more than expected.
Wednesday markets were closed.
Thursday stocks jumped 27 points on light-to-moderate volume as jobless claims rose a little less than expected.
Friday the markets lost 23 points on moderate volume as construction spending rose and beat estimates while ISM manufacturing fell and missed expectations.
Mortgage rates were mixed on the week. The national averages as reported by Bankrate.com indicate a 15-year rate of 3.28% and a 30-year rate of 3.74%. These rates are as of 01/06/2020 and may include points.
What to watch for on the economic calendar this week:
Monday – No Major Data
Tuesday – Factory Orders / ISM Non-Manufacturing
Wednesday – Mortgage Applications / ADP Employment / Consumer Credit
Thursday – Jobless Claims
Friday – December Employment
Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC
January 06, 2019