WEEKLY CAPITAL MARKET HIGHLIGHTS:
- In US equities, small cap stocks under performed large cap stocks; growth stocks led value stocks; international stocks and US stocks were roughly even; and emerging markets beat developed markets by a relatively wide margin.
- Treasury rates were largely unchanged. The yield on the 10-year Treasury note remained stable at around 2.4%.
- Commodity prices were up slightly, largely buoyed by crude oil.
- The dollar index rose during the week. Market participants looked for evidence that inflation and retail sales were firming, which could lead to the Federal Reserve (Fed) increasing interest rates.
- In economic data released this week: US non farm employers added 211,000 jobs during April, while the unemployment rate fell 0.1% to 4.4%. The unemployment reading marks a low since the end of the global financial crisis. The producer-price index (PPI) rose 2.5% in April from a year earlier, firming up a soft patch experienced in March. In France, Emmanuel Macron won the presidency in a runoff election against anti-European Union (EU) candidate Marine Le Pen. The result bolstered confidence in the EU, but the euro fell slightly on the European Central Bank’s statements regarding the need for continued monetary stimulus.
Click here to download the complete weekly report:Endowment Wealth Management Weekly Review May 12, 2017