- Risk assets faced selling pressure for the second straight week, as investors continued to digest the current state of global trade wars. Although markets experienced deep losses on Monday, the remainder of the week was spent regaining some of the loss in value. Large cap stocks outperformed small cap; developed stocks outperformed emerging markets equities; and growth and value were evenly split.
- The yield on the 10-year US Treasury was lower, trading below 2.40% from 2.46% the prior week, as investors moved to safer assets.
- Walmart (WMT) will raise prices on some products as a result of tariffs on Chinese goods. The company also announced it will offer next-day shipping in a move to compete with Amazon (AMZN).
- Bitcoin surged higher, reclaiming 7,000 and then 8,000 price levels earlier in the week, before selling off on Friday. Although the cryptocurrency has spent much of 2019 hovering near 4,000, it has surged higher in recent weeks.
- Uber (UBER) faced challenges in its first full week of trading, falling as low as $36.08, or -19.80% from its IPO price of $45, on Monday, before recovering to $43 by Thursday’s close.
- Initial jobless claims fell 16,000 to 212,000, their lowest level in a month.
Click here to download the complete weekly report: EWMWeeklyReview 5.20.19
Disclosure: Past performance is not necessarily indicative of future results.