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Market Summaries: Keep Up-to-date with the Latest Market Information | Wescom Financial Services

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Market Summaries

Market Month: January 2018

Annual Market Review 2017

Annual Market Review 2016

Market Week: February 19, 2018

The Markets (as of market close February 16, 2018)

Stocks rebounded last week following a tumultuous few weeks of significant losses. Led by the Nasdaq, each of the benchmark indexes listed here posted solid gains. Both the large caps of the Dow and S&P 500 put up impressive gains exceeding 4.0%, as did the small-cap Russell 2000 and the Global Dow. Also of note is the fact that each index listed here is, once again, ahead of its respective 2017 year-end value. All told, last week was the best for stocks since early 2013. And, these gains occurred despite signals that inflation is beginning to pick up steam.

The price of crude oil (WTI) rebounded last week to close at $61.67 per barrel early Friday evening, up from the prior week's closing price of $59.24 per barrel. The price of gold (COMEX) also increased last week to $1,350.40 by early Friday evening, climbing from the prior week's price of $1,318.50. The national average retail regular gasoline price decreased for first time in several weeks, falling to $2.607 per gallon on February 12, 2018, $0.030 lower than the prior week's price but $0.300 higher than a year ago.

Market/Index2017 ClosePrior WeekAs of 2/16Weekly ChangeYTD Change
DJIA24719.2224190.9025219.38 4.25% 2.02%
Nasdaq6903.396874.497239.475.31% 4.87%
S&P 5002673.612619.552732.224.30% 2.19%
Russell 20001535.511477.841543.554.45% 0.52%
Global Dow3085.413016.883144.754.24% 1.92%
Fed. Funds target rate1.25%-1.50%1.25%-1.50%1.25%-1.50%0 bps0 bps
10-year Treasuries2.41%2.85%2.87%2 bps46 bps

Chart reflects price changes, not total return. Because it does not include dividends or splits, it should not be used to benchmark performance of specific investments.

Last Week's Economic Headlines

  • Consumer prices for goods and services rose 0.5% in January, according to the Bureau of Labor Statistics. Over the last 12 months, the Consumer Price Index has risen 2.1%. Contributing to the price growth were increases in prices for gasoline, shelter, apparel, medical care, and food. The index less food and energy increased 0.3% in January and 1.8% over the past year. The energy index increased 5.5% and the food index advanced 1.7%. Rising consumer prices could spark fear of rising inflation (and interest rates) among investors, who may react by selling equity holdings, which, in turn, could drive down stock market values.

Eye on the Week Ahead

The Presidents' Day week is a slow one for economic reports. However, the minutes from the last Federal Open Market Committee meeting held in January are available and may shed some light on the Committee's take on inflationary trends and the prospects of increasing the federal funds target rate.

Data sources: News items are based on reports from multiple commonly available international news sources (i.e. wire services) and are independently verified when necessary with secondary sources such as government agencies, corporate press releases, or trade organizations. Market data: Based on data reported in WSJ Market Data Center (indexes); U.S. Treasury (Treasury yields); U.S. Energy Information Administration/ Market Data (oil spot price, WTI Cushing, OK); (spot gold/silver); Oanda/FX Street (currency exchange rates). All information is based on sources deemed reliable, but no warranty or guarantee is made as to its accuracy or completeness. Neither the information nor any opinion expressed herein constitutes a solicitation for the purchase or sale of any securities, and should not be relied on as financial advice. Past performance is no guarantee of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing strategy will be successful.

The Dow Jones Industrial Average (DJIA) is a price-weighted index composed of 30 widely traded blue-chip U.S. common stocks. The S&P 500 is a market-cap weighted index composed of the common stocks of 500 leading companies in leading industries of the U.S. economy. The NASDAQ Composite Index is a market-value weighted index of all common stocks listed on the NASDAQ stock exchange. The Russell 2000 is a market-cap weighted index composed of 2,000 U.S. small-cap common stocks. The Global Dow is an equally weighted index of 150 widely traded blue-chip common stocks worldwide. Market indices listed are unmanaged and are not available for direct investment.

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