AAM Weekly Market Wrap – November 13, 2017

Weekly Market Wrap: Stocks fell for the first time in 9 weeks as tax reform, mixed earnings reports and tech merger activity see-sawed the markets.

 

For The Week

  • The S&P 500 slipped 0.21% to 2,582.30
  • Oil jumped 1.98% to $56.74
  • Gold rose 0.43% to $1,275.58
  • The US dollar lost 0.56% at $94.39 against other major world currencies.

 

2017 Year-To Date for the major indexes:

 

  • The S&P Index +15.34%
  • The Dow Jones Index +18.52%
  • The NASDAQ Index +25.41%
  • The Russell 2000 Small cap Index +8.71%
  • EAFE International Index +20.01%
  • 10 Year Treasury Yield is 2.25%, lower for the week and lower for the year
  • 30 Year Treasury Yield is 2.81%, lower for the week and lower for the year
  • WTI Crude Oil Index +5.62%
  • Bloomberg Gold Index +10.69%
  • The Dollar Index -7.73% against other major world currencies

 

 

Monday the S&P 500 index gained 3 points on moderately-heavy volume with no major data reported.

Tuesday the markets lost less than 1 point on moderately-heavy volume as consumer credit rose more than expected.

Wednesday the index added 4 points on moderate volume as mortgage applications were mixed.

Thursday the S&P 500 dropped 9 points on moderate volume as jobless claims rose more than expected and the Senate tax bill was released.

Friday the index lost 3 points on moderate volume as consumer sentiment fell more than expected.

Mortgage rates were mixed on the week.  The national averages as reported by Bankrate.com indicate a 15-year rate of 3.14% and a 30-year rate of 3.80%. These rates are as of 11/13/2017 and may include points.

 

What to watch for on the economic calendar this week:


Monday – No major data

Tuesday – Small Business Optimism / Producer Prices

Wednesday – Mortgage Applications / Consumer Prices / Retail Sales / NY Manufacturing

Thursday – Weekly Jobless Claims / Import & Export Prices / Industrial Production / Housing Market Index

Friday – Housing Starts

 

 

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

November 13, 2017

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

Phone: (616) 531-5220
rvansurksum@aamllc.com