Monthly Archives: January 2017

The Markets (as of market close January 27, 2017)

The Dow reached 20000 for the first time ever midweek, and each of the indexes listed here posted gains of at least 1.0% over the prior week. Both the S&P 500 and Nasdaq reached record highs as favorable earnings reports coupled with anticipated pro-business policies apparently spurred trading, although a relatively weak GDP report at week’s end may have led to some pullback. Long-term bond prices remained stable as the yield on 10-year Treasuries climbed 2 basis points to 2.48%.

The price of crude oil (WTI) increased last week, closing at $53.12 per barrel, up from the prior week’s closing price of $52.33 per barrel. The price of gold (COMEX) fell, closing at $1,193.50 by late Friday afternoon, down from the prior week’s price of $1,207.40. The national average retail regular gasoline price decreased to $2.326 per gallon on January 23, 2017, $0.032 less than the prior week’s price but $0.470 more than a year ago.

Market/Index 2016 Close Prior Week As of 1/27 Weekly Change YTD Change
DJIA 19762.60 19827.25 20093.78 1.34% 1.68%
Nasdaq 5383.12 5555.33 5660.78 1.90% 5.16%
S&P 500 2238.83 2271.31 2294.69 1.03% 2.50%
Russell 2000 1357.13 1351.85 1370.70 1.39% 1.00%
Global Dow 2528.21 2588.99 2620.18 1.20% 3.64%
Fed. Funds target rate 0.50%-0.75% 0.50%-0.75% 0.50%-0.75% 0 bps 0 bps
10-year Treasuries 2.44% 2.46% 2.48% 2 bps 4 bps

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The Markets (as of market close January 6, 2017)

The markets regained their swag as each of the indexes listed here posted week-over-week gains at the close of the first week of the New Year. The Dow gained a little over 1.0% for the week, inching closer to 20000 for the first time ever. Nasdaq posted the largest gain of the week, followed by the Global Dow. The dollar strengthened, cutting into exports, while the yield on 10-year Treasuries stayed the course.

The price of crude oil (WTI) fell slightly last week, closing at $53.70 per barrel, down from the prior week’s closing price of $53.83 per barrel. Continue reading

Market Commentary: The Markets (as of market close December 30, 2016)

The Dow suffered its first weekly loss since the presidential election, and each of the indexes listed here closed the last week of 2016 on the down side. Despite the lackluster returns for the final week of the year, each of the indexes closed the year in positive territory, led by the Russell 2000, which posted almost a 20% year-over-year gain. Long-term bond prices and gold increased by the end of last week, with the yield on 10-year Treasuries dropping 10 basis points, while the price of gold climbed about 1.7%. Continue reading