Weekly Commentary

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Monday, December 19, 2016

Major U.S. equity indexes finished the week relatively flat following Wednesday’s largely predicted Federal Open Market Committee (FOMC) announcement of a 25 basis point (bp) increase to the Fed funds rate.

Monday, December 12, 2016

After pausing last week, U.S. equity markets again resumed their post-election rally. Three of four major indexes closed at fresh all-time highs during the period – oil surged on a weekend OPEC deal that sent crude oil to nearly $57.

Monday, December 5, 2016

U.S. equity markets cooled off after their recent, post-election rally while oil prices rocketed off the back of an OPEC output deal. The S&P 500, Dow Jones and Nasdaq were relatively flat during the period, oil finished up gaining over 12%. Gold was slightly down, impacted by persistent monetary policy speculation, and the 10-year U.S. Treasury note yield ended the week at approximately 2.39%.

Monday, November 28, 2016

U.S. equity indexes posted another week of solid gains with the Nasdaq, S&P 500 and Dow Jones reaching record levels during the period. Small-cap stocks also reached a new record high with the Russell 2000 gaining over 2% for the week contributing to an approximate year-to-date gain of 18.5%. Oil was slightly up and gold closed lower for the period. The 10-year U.S. Treasury note yield ended the week at approximately 2.4%.

Monday, November 21, 2016

U.S. equity indexes were relatively flat as a Federal Reserve interest rate hike becomes more imminent. The Dow, S&P500 and Nasdaq each posted small gains following another week of political spectating and policy predictions. The 10-year Treasury yield reached its highest level of 2016 during the period and closed at approximately 2.34%. Oil prices rose and gold lost ground. The U.S. dollar reached a new 13-year high.

Monday, November 14, 2016

In Brexit-like fashion, Donald Trump won the presidential election in a landslide. The Dow shook off its initial plunge to have the best week in five years while the S&P500 and NASDAQ each gained over 3%. Oil lost ground as expectations of a production halt lessened and gold dropped to a four-week low. The 10-year U.S. Treasury yield closed at approximately 2.2%.

Monday, November 7, 2016

Election outcome uncertainty weighed heavily on multiple assets during the week. The Nasdaq, S&P 500 and Dow Jones all posted losses for the period. Global markets also took a hit with the Stoxx Europe 600, Global Dow and FTSE 100 all losing ground. Oil dove roughly 10% while gold finished the period higher. The 10-year U.S. Treasury yield closed at approximately 1.8%.

Monday, October 31, 2016

It was a mixed week for U.S. equity indexes with the Dow Jones slightly rising while the Nasdaq and S&P 500 both posted a modest loss. The 10-year U.S Treasury yield closed at approximately 1.85%. Oil prices dropped for the period and gold was up.

Monday, October 24, 2016

Global stocks experienced modest gains for the week; major U.S. equity indexes such as the Nasdaq, S&P 500 and Dow Jones all rose slightly. The 10-year U.S Treasury yield closed at approximately 1.7%. Oil and gold were also slightly up as investors shifted attention toward earnings season.

Monday, October 17, 2016

Political controversy and interest rate speculation left U.S. equities slightly lower at the end of the week with the Nasdaq, Dow Jones and S&P 500 all losing ground. Oil and gold were both relatively flat for the period. The 10-year U.S. Treasury yield finished up at approximately 1.8%.

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