Market Commentary: The Markets as of Close June 16, 2017

The benchmark indexes listed here seemed to follow last week’s mixed economic news. While the Fed raised interest rates based on what it perceived as favorable labor and economic reports, inflation is definitely receding and the housing market has stalled. Equities were mixed as the small caps of the Russell 2000 and the tech stocks of the Nasdaq fell back, while the large caps of the S&P 500 and Dow posted marginal gains. Rising interest rates were offset by lower inflationary trends, which may account for the lack of movement in the 10-year Treasuries.

The price of crude oil (WTI) fell again last week, closing at $44.67 per barrel, down from the prior week’s closing price of $45.90 per barrel. The price of gold (COMEX) decreased last week, closing at $1,255.20 by late Friday afternoon, down from the prior week’s price of $1,268.80. The national average retail regular gasoline price decreased to $2.366 per gallon on June 12, 2017, $0.048 lower than the prior week’s price and $0.033 less than a year ago.