AAM Weekly Market Wrap – January 4, 2021

Weekly Market Wrap: Stocks ended 2020 on a high note as mostly positive economic data, continued vaccine rolllouts and President Trump’s signature on the Covid relief bill gave markets reason to go higher.

For The Week

  • The S&P 500 rose 1.43% to 3,756.07
  • Oil gained 0.64% to $48.52
  • Gold added 1.11% to $1,900.46
  • The US dollar fell at $89.94 against other major world currencies.

2020 Year-To Date for the major indexes:

  • The S&P Index +16.26%
  • The Dow Jones Index +7.25%
  • The NASDAQ Index +43.64%
  • The Russell 2000 Small cap Index +18.36%
  • EAFE International Index +5.08%
  • 10 Year Treasury Yield is 0.92%, higher for the week and lower for the year
  • 30 Year Treasury Yield is 1.65%, lower for the week and lower for the year
  • WTI Crude Oil Index -20.54%
  • Bloomberg Gold Index +25.19%
  • The Dollar Index -6.80% against other major world currencies

Monday the S&P jumped 32 points on moderate volume with no major data released.

Tuesday stocks lost 8 points on moderate volume as Shiller home prices rose and beat expectations.

Wednesday the S&P 500 gained 5 points on moderate volume as Midwest manufacturing rose and beat while pending home sales fell and missed estimates.

Thursday stocks added 24 points on moderate volume as jobless claims fell more than expected and continuing claims were lower.

Friday the markets were closed.  Happy New Year!

Mortgage rates were lower last week. The national averages as reported by Bankrate.com indicate a 15-year rate of 2.34% and a 30-year rate of 2.87%. These rates are as of 01/04/2021 and may include points.

What to watch for on the economic calendar this week:

Monday –Construction Spending

Tuesday – ISM Manufacturing

Wednesday – Mortgage Applications / ADP Employment / Factory Orders

Thursday – Jobless Claims / ISM Non-Manufacturing

Friday – December Jobs / Consumer Credit                 

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

January 4, 2020                                                                                                   

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Grandville, MI 49418

Phone: (616) 531-5220