Weekly Market Wrap: The S&P gained for the 5th time in the last 6 weeks as optimism over vaccinations and the re-opening of the economy continued to push stocks higher.
For The Week
- The S&P 500 gained 2.71% to 4,128.80
- Oil dropped 3.47% to $59.62
- Gold rose 0.80% to $1,743.67
- The US dollar lost 0.82% at $92.16 against other major world currencies.
2021 Year-To Date for the major indexes:
- The S&P Index +9.92%
- The Dow Jones Index +10.44%
- The NASDAQ Index +7.85%
- The Russell 2000 Small cap Index +13.60%
- EAFE International Index +6.88%
- 10 Year Treasury Yield is 1.66%, lower for the week and higher for the year
- 30 Year Treasury Yield is 2.34%, flat for the week and higher for the year
- WTI Crude Oil Index +22.26%
- Bloomberg Gold Index -8.25%
- The Dollar Index +2.47% against other major world currencies
Monday the S&P 500 jumped 58 points on moderate volume as factory orders fell more than expected and ISM non-manufacturing rose and beat expectations.
Tuesday stocks fell 4 points on moderate volume with no major data reported.
Wednesday the S&P 500 gained 6 points on moderate volume as mortgage applications fell and consumer credit use rose and beat estimates.
Thursday stocks rose 17 points on moderate volume as jobless claims rose unexpectantly and continuing claims were slightly lower.
Friday the S&P 500 added 32 points on moderate volume as producer prices rose more than expected.
Mortgage rates were lower last week. The national averages as reported by Bankrate.com indicate a 15-year rate of 2.43% and a 30-year rate of 3.18%. These rates are as of 04/12/2021 and may include points.
What to watch for on the economic calendar this week:
Monday – No major data
Tuesday – Consumer Prices / Small Business Optimism
Wednesday – Mortgage Applications / Import and Export Prices
Thursday – Jobless Claims / Industrial production / Capacity Utilization / Homebuilder Sentiment / Retail Sales / NY Manufacturing
Friday – Housing Starts and Building Permits / Consumer Sentiment
Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC
April 12, 2020
economic indicators, economic news, Economy, Financial Adviser Grand Rapids, Financial Advisor Grand Rapids, Financial Planner Grand Rapids, Interest Rates, investments, mortgage rates, Personal Financial Planning, Stock Market