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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: May 2018

Quarterly Market Review: January-March 2018

Annual Market Review 2017

Market Week: June 18, 2018

The Markets (as of market close June 15, 2018)

Market gains achieved earlier in the week were given back by last Friday as investors appeared to react to China's retaliatory tariffs on American exports. The deteriorating relationship between the United States and China escalated last week as the Trump administration revealed plans to impose tariffs of 25% on a significant number of Chinese imports. In response, China targeted U.S. exports, including cars and crude oil, for similar tariffs. By the end of the week, the Dow fell the most, suffering through its largest one-week loss since March. Other than the Global Dow, the remaining indexes listed here posted gains, with the Nasdaq climbing over 1.30%. The S&P 500 was virtually unchanged, and the Russell 2000 gained over 0.50%.

The price of crude oil (WTI) dipped again last week, closing at $64.38 per barrel, down from the prior week's closing price of $65.56 per barrel. The price of gold (COMEX) fell to $1,282.00 by early Friday evening, down from the prior week's price of $1,303.50. The national average retail regular gasoline price fell to $2.911 per gallon on June 11, 2018, $0.029 lower than the prior week's price but $0.545 higher than a year ago.

Market/Index2017 ClosePrior WeekAs of 6/15Weekly ChangeYTD Change
DJIA24719.2225316.53 25090.48 -0.89% 1.50%
Nasdaq6903.397645.51 7746.381.32% 12.21%
S&P 5002673.612779.03 2779.660.02% 3.97%
Russell 20001535.511672.49 1683.910.68% 9.66%
Global Dow3085.413060.76 3044.16-0.54% -1.34%
Fed. Funds target rate1.25%-1.50%1.50%-1.75%1.75%-2.00%25 bps50 bps
10-year Treasuries2.41%2.93%2.92%-1 bps51 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

  • The Federal Open Market Committee decided to raise the target range for the federal funds rate 25 basis points to 1.75%-2.00%. The Committee noted that the labor market has continued to strengthen and that economic activity has been rising at a solid rate. Growth of household spending has picked up, while business fixed investment has continued to grow strongly. On a 12-month basis, both overall inflation and inflation for items other than food and energy have moved close to 2%. With the median funds forecast at 2.4%, the FOMC appears to be targeting two more rate hikes before the end of the year.

Eye on the Week Ahead

Performance statistics from the housing sector for May are released this week and next. Housing starts, new building permits, and existing home sales each dropped off in April. Reports this week hope to show a reversal of that trend for May. Next week, figures on new home sales are released for May following April's lackluster returns.

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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