EWM Weekly Capital Market Highlights for Week Ended 4/12/19

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Domestic equities were slightly negative through Thursday, but Friday turned the market positive for the week. International equities were mostly flat as well, with emerging market stocks outperforming their developed market counterparts.
  • Treasury yields were were flat through the end of the day Thursday.
  • The US dollar weakened during the week, dropping to its lowest level in two weeks. The weakness was driven by strength in the Euro and economic news that boosted demand for riskier assets.
  • Commodities were up for the week, driven by increases in oil and gold prices.

Click here to download the complete weekly report: EWMWeeklyReview 4.15.19

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights for Week Ended 4/5/19

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Domestic equities were up for the week, with small cap stocks appreciating the most. International equities ended the week in positive territory as well, with emerging market stocks outperforming their developed market counterparts.
  • Treasury yields were up through end of day Thursday, with longer-term yields risking more than ten basis points, while shorter yields were only up by two basis points.
  • The US dollar strengthened during the week, notably appreciating against the British pound as Britain seeks to delay it’s European Union departure.
  • Commodities were up for the week, reaching new highs for the year, on news that the United States is considering more sanctions against Iran.
  • In other economic news, the institute of Supply Management (ISM) has released the March Non-Manufacturing Purchasing Managers’ Index (PMI), and reported a headline composite number of 56.10, down 3.60 since last month. This represents continued growth in the non-manufacturing sector.

Click here to download the complete weekly report: EWMWeeklyReview 04.08.19

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights for Week Ended 3/29/19

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Among equities, large caps underperformed small caps; value stocks led growth stocks; domestic stocks outperformed international stocks; and developed markets outperformed emerging markets.
  • Treasury yields trended downward during the week. The yield on the 10-Year Treasury Note fell roughly four basis points during the week and ended around 2.39%.
  • Commodity indices were mixed during the week. Gold and grain prices each dipped more than 1.00%, whereas crude oil prices rose week over week.
  • The US dollar appreciated over the week relative to a basket of foreign currencies.
  • Among major economic data released this week, consumer spending marginally increased in January, whereas the price index for personal-consumption expenditures (a key inflation gauge) declined. New US home sales ticked up in February for the second straight month.

Click here to download the complete weekly report: EWMWeeklyReview 04.01.19

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights For Week Ended 3/22/2019

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Among equities, small caps trailed large caps; growth stocks beat value stocks; international stocks underperformed US stocks; and emerging markets outperformed developed markets.
  • Treasury yields fell. The yield on the 10-year U.S. Treasury Note plunged below 2.50% and ended the week at around 2.45%.
  • Commodity indices edged up.The price of gold rose as crude oil prices edged higher, but ended the week relatively flat.
  • Dollar indices little changed. While the dollar rose against both the euro and sterling, it fell against the yen.
  • Among major economic data, January durable goods orders rose 0.3% (less than expected); the Fed left the federal funds rate unchanged during the FOMC meeting; and February existing homes sales rebounded sharply.

Click here to download the complete weekly report: EWMWeeklyReview 3.25.19

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights For Week Ended 3/1/2019

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Equity markets around the globe rallied, as better-than-expected China PMI manufacturing data brought in a risk-on mood to Asian and European markets.  Asian stocks continued their rally on speculation that the US and China could be endorsing a trade deal in weeks. Markets also were supported by the news that MSCI Index will quadruple the weight of China A shares in global indices by November. US markets ended February on a positive note, as the Fed pause and potential trade truce acted as tailwinds. Small caps outperformed large caps, and growth outperformed value
  • The yield on the 10-year U.S. Treasury traded mostly higher during the week. Yields rose on Thursday, as fourth-quarter Gross Domestic Product (GDP) data came in higher than what markets had expected. German yields rose sharply on hopes that a no-deal Brexit will be avoided.
  • The Dollar Spot Index (DXY) climbed to its highest level in more than a week.
  • Tesla Inc. (TSLA) and Elon Musk were in the news after the SEC said Mr. Musk’s tweets violated his court settlement. Tesla’s stock price headed sharply lower after he warned that the company will not show a profit in Q12019.
  • Among major economic data, initial jobless claims increased by 8,000 for the week ending February 23. Housing Starts declined 11.20% month over month in December, while Building Permits were up 0.30% for the same period.

Click here to download the complete weekly report: EWMWeeklyReview 3.4.19

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights For Week Ended 2/22/2019

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Among Equities, small caps outperformed large caps; value stocks slightly outperformed growth stocks; international stocks outperformed domestic stocks; and emerging markets beat developed  markets.
  • Treasury yields held steady. The yield on the U.S. 10-year Treasury Note ended the week at 2.65%.
  • Commodity indices rose over the week, driven by higher crude oil prices.
  • Dollar indices declined slightly, whereas the euro ended higher for the week.
  • Among major economic data, new orders of durable goods in December rose 1.2% month over month, less than expected; initial jobless claims were down 23,000 to 216,000; January existing home sales declined.

Click here to download the complete weekly report: EWMWeeklyReview02.25.2019

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights For Week Ended 2/8/2019

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Equities faced selling pressure Thursday and Friday on news that President Trump will not meet with Chinese President Xi prior to the March 1 deadline. Markets appear to be in a holding period as investors await further news on a US/China trade deal, Brexit, and a bipartisan resolution to prevent another government shutdown.
  • The yield on the 10-year U.S. Treasury Note increased to 2.73% on Tuesday before declining below 2.65% on Thursday and Friday.
  • British Prime Minister Theresa May was in Brussels for meetings with other EU leaders to avoid a hard Brexit, which is 50 days out.
  • Bill Gross announced his retirement this week. The investor once known as the “Bond King” co-founded PIMCO in 1971 and managed client assets for more than forty years, most recently at Janus.
  • Among major economic data, initial jobless claims fell from a one-and-a-half -year high last week, decreasing by 19,000 to 234,000.

Click here to download the complete weekly report: EWMWeeklyReview02.11.2018

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights for Week Ended 2/1/2019

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Global equity markets rose broadly this week. US markets were led by the tech-heavy NASDAQ on the tailwinds of positive earnings from a number of FAANG companies. International stocks were largely higher; however, they trailed emerging markets, which posted strong returns for the week, with Brazil contributing significantly, while Greece and India detracted marginally.
  • Treasury yields fell this week, primarily due to the Fed’s vowing “patience” in monetary policy. However, yields rose marginally on Friday morning, trimming the decline, after the December employment report showed stronger-than-expected US job gains and the yield on the 30-year U.S. Treasury bond rising back above 3%.
  • Commodities rose, with the Bloomberg Commodity Index finishing slightly higher after an overall positive week. Within the index, oil prices jumped along with the stock market on Friday, after the US monthly job report showed a surge in employment. Oil futures also headed higher, as US sanctions on Venezuela’s stateowned oil firm, PDVSA, raised the risk of tighter crude supplies.
  • The US dollar ended the week lower against a basket of major trade partners’ currencies. The Deutsche Bank Long US dollar index fell .73%, likely pressured by the Fed’s cautious US economic outlook, suggesting the central bank may be near the end of its tightening cycle.
  • In other economic news, the US gained 304,000 new jobs in January, the biggest increase in almost a year and marking 100 consecutive months of employment gains. The unemployment rate, while still historically low, drifted marginally higher to 4.00%, likely a byproduct of the combination of a higher labor force participation rate and the government shutdown.

Click here to download the complete weekly report: EWMWeeklyReview02.04.2018

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights for Week Ended 1/25/2019

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Equity markets indices were generally down across the board. Domestic indices were not able to recoup Tuesday’s losses.
  • Volatility persists in the market. Even though the CBOE Volatility Index (VIX) was down during the week, it remains above its historical average.
  • Mortgage rates remained flat during the week, causing the stocks of home-building companies to rise.
  • Commodity prices rose despite the decline in oil prices.
  • Treasury yields ticked slightly higher, but uncertainty about ongoing trade negotiations and the government shutdown are cause for some concern.

Click here to download the complete weekly report: EWMWeeklyReview 1.28.19

Disclosure: Past performance is not necessarily indicative of future results.

EWM Weekly Capital Market Highlights for Week Ended 1/18/2019

By | Financial Markets & Economy, Weekly Capital Market Updates
  • Domestic equities traded higher, helped by an end-of-the-week boost. Large capitalization stocks outperformed smaller capitalization stocks, while growth generally outperformed value. International equities also ended higher, with Emerging Markets outperforming Developed stocks.
  • Treasury yields rallied after positive news on US/China trade. The yield on the US 10-year Treasury Note reached 2.79%, up from last week’s 2.70% close.
  • Oil prices increased supported by OPEC cuts in December, which showed their collective output fell by more than 751,000 barrels a day in the month. The West Texas Intermediate is approximately 3% higher than the previous week.
  • Tesla shares dropped as much as 9% during Friday trading, as CEO Elon Musk called for 7% job cuts, citing price competition as a headwind for future growth.
  • In other economic news, unemployment came in at 3.9%in December, and wages rose a solid 3.2% last year, all while the Federal Reserve’s preferred gauge of inflation, after removing food and energy, rose 1.9% as of November over the prior year.

Click here to download the complete weekly report: EWMWeeklyReview 1.22.19

Disclosure: Past performance is not necessarily indicative of future results.